Travel Technology - Solutions for Sustainable Business Growth

 

 

A leading travel technology company, offering travel web portal development, travel mobile app development & API integration services worldwide

 

Trawex Technologies has more than 10 years of travel industry experience, complemented with regularly tested processes and focused towards quality in implementing and managing travel technology services. 

Our Travel Management System is a web application offering the most comprehensive solution to streamline business processes for high-volume travel software.

Based on that premise, Trawex is one of the leading pure-play travel technology companies with a focused approach towards providing travel technology services in the areas of IT.

Travel Web Development & Maintenance, APIs, Web Application Development, android app development, XML integration and also providing services to travel agents, tour operators, and online travel agents.

Trawex provides Strategic Outsourcing Services and Product Engineering services on Mainframe technologies, .NET Technologies and Open Source Technologies (JAVA, J2ME, LINUX, etc.) to travel technology companies.

With access to a highly experienced, extremely efficient global talent pool base, Trawex is able to offer expanded capability, flexibility, and tremendous cost savings to its clients.

With this core team, Trawex offers consulting solutions to the travel technology domain in order to enhance productivity and ROI from their IT investments.

Customers have to just simply type where they want to go and their desired travel dates and our travel search engine's compare accommodation prices for you.

Our travel agency software provides a complete office automation solution. Leaders in travel technology solutions, Trawex has the latest travel management solution to help with your growing needs.

Travel technology can be defined as the interaction between technical devices, such as computers, and individuals who use their technical skills and knowledge to obtain information about traveling.

Such information can help individuals organize their physical movement between locations, arrange accommodation for their journey, and plan entertainment activities in the desired destination.

In the course of the 19th and 20th centuries, a series of significant technological innovations facilitated the travel of increasing numbers of people. Technological progress steadily accelerated the traffic on land, by sea, and in the air.

The inventions of new transportation technologies, such as the steam engine and the jet plane, are often considered landmarks in the evolution and democratization of transportation systems.

However, the far-reaching transformation of travel that has taken place over the last 20 years is undeniably linked to unprecedented ways of disseminating travel-related information.

Following the birth of the World Wide Web in the late 1980s, communication channels were increasingly digitized and information exchange between remote locations was considerably simplified across the world.

The ascendancy of information and communication technology (ICT) has revolutionized how traveling is planned, experienced, and reflected.

An ICT system can be understood as a set of technologies used to enable the digital exchange of symbolic meanings between individuals through the Web.

The usually visible components of ICT systems inherent in present-day travel technologies are desktop computers, laptops, tablet PCs, mobile smartphones, fiber-optic cables, and hot spot routers.

Instant messages, video conferences, social networking sites, and other Web 2.0 applications require ICT systems.

The digital revolution had profound implications for all major players in the travel and hospitality industries.

Since the 1990s, ICT systems have widely been used in these two interrelated sectors to optimize the communication between travel service suppliers, travel agencies, and travelers.

Thanks to ICT systems, travelers can access travel-related information before, during, and following a trip.

The rising impact of ICT systems on traveling became apparent in the installation of electronic equipment in touristic sites, hotels, travel agencies, train stations, and indeed private households.

ICT systems are increasingly considered providers of information on which travel consumer decisions depend.

Millions of independently-minded travelers strategically use ICT systems to access information on the move and to proactively arrange their trips beyond mass tourism routes.

For example, the customary paper map has generally been replaced by GPS to explore an obscure area. These substantial changes in travel behavior realigned the roles of the major players in the travel and hospitality industries.

Managers of airline enterprises, owners of hotels, travel agents, car rental staff, and bus drivers all needed to adjust their daily routines to the new technology.

The growing trends that have evolved in travel since the introduction of ICT systems are discussed in the following sections.

Overall, five major trends can be identified, all of which unfolded in the past two decades.

First, direct sales and direct bookings of travel services reemerged due to increased digital communication in the travel and hospitality industries, which undermined the traditional role of travel agencies as the mediator between travel service suppliers and consumers.

Second, travel blogging proliferated among contemporary travelers. Third, using digital tour guides become a further popular travel practice, which altered the experience of touristic sites.

Fourth, increasing numbers of travelers engage in online hospitality exchange networks, such as Couch Surfing.

Finally, system trust primarily based on expert reviews and rankings surpassed the personal trust between consumers and suppliers of travel services.

 

Domestic and International Scenario

 

The global business travel market is expected to grow steadily, with India as one of the fastest-growing segments. To truly recognize the benefits of business travel, corporates need to look at their travel management program holistically, considering many factors.

These factors include employee safety and satisfaction, cost control, policy compliance, and a transparent system. Post an era of uncertainty, business travel spends have finally reached pre-recession levels.

The two year period of 2017-2018 emerged as the strongest for business travel since 2010, driven by a boost in the global economy and a digitally inclined millennial workforce.

In India, the business travel spends stood at USD 37 billion in 2017, and are expected to grow further as companies expand their businesses in an increasingly connected world.

Almost 60% of Indians between 19-34 years of age consider business travel an indicator of professional growth as well as a status symbol.

Thus, to achieve further growth, organizations need to adopt a comprehensive travel program that aims to integrate and fulfill the needs of all the stakeholders involved. 

With a tech-savvy and youthful workforce, organizations need to be well equipped to address the needs of their employees while maintaining their business objectives.

Ranging from TMCs, third party vendors, and corporates to employees, each stakeholder has an important role to play towards creating integrated and simplified policies and processes.

This can be achieved through a comprehensive travel program that aims to fulfill the needs of all the stakeholders involved. The four pillars of corporate travel management serve as a strong underlying foundation for developing such a program.

Companies and their travel partners must collaborate to develop tools, policies, and processes suited to the needs of the Indian millennial business travelers such as self-booking tools, etc.

These policies and processes need to be continuously re-evaluated to incorporate emerging technologies and evolving employee needs.

Hence, a successful interplay of these pillars is key to fruitfully manage a corporate’s travel management program in the long run.

 

Changing World Dynamics

 

Classifying the world’s major business travel markets into segments reveals an impending shift in the dynamics of the global travel market. The Stalwarts constitute close to half of the global business travel spending market and comprise many of the world’s major economies.

India, China and Indonesia (ICI), which were once considered emerging markets, now form their segment and continue to grow at an extremely rapid pace.

It is estimated that by gaining USD 164 billion in annual spend by 2022, the ICI segment will pick up ground on the Stalwarts over the next five years. This segment is projected to be the largest in the world by 2035.

South Asia is expected to be the fastest-growing world region over the next ten by years, with average annual direct T&T GDP growth of 6.9% forecast, driven principally by strong growth in India (7.1%).

In China, long term annual average growth of 6.7% is predicted. North-East Asia overall is forecast to grow by an annual average of 5.6% per year, just ahead of South East Asia (5.5%).

The next tier of sub-regions, with growth in the (3-5%), Sub-Saharan Africa (4.4%), the Middle East (4.2%), Central Asia (4.2%), North Africa (3.6%), the Caribbean (3.6%), Latin America (3.2%) and Oceania (3.0%). Slower, yet robust growth is expected in North America (2.6%) and Europe (2.4%).

 

Indian Travel Market

 

The total market for business travel in India has grown from USD 26 billion in 2014 to USD 37 billion in 2017; with a projected annual growth rate of 11.5% and a projected spend of up to USD 46 billion in 2019.

In the previous year, annual growths in yearly development of business travel spend for India has been the most noteworthy among the best 15 business travel advertises all around.

Consequently, India surpassed South Korea to reach 7th position in the top 15 business travel markets (by spend) globally and is projected to be in the top 5 by 2022.

It is forecasted to be one of the fastest-growing markets over the next five years, growing at a rate of 12.5% over the forecasted period.

India is also witnessing a rise in MICE (meetings, incentives, conventions and exhibitions) tourism and has moved up to occupy the 31st position in 2017 from 35th rank in 2014 globally.

The current size of the MICE sector in India is estimated to be USD 1.5 billion (0.5% of the global MICE market) and has been growing at a rate of 15–20% annually.

A MICE traveler, on average, spends 150% more than an inbound leisure traveler during a four-day stay thus presenting a large opportunity that can be tapped into. The Government of India (GoI) aims to capture up to 2% of the global MICE market share by 2025.

Business travel in India is witnessing unprecedented growth due to a stable economy, growing number of SMEs (small and medium enterprises), growth of regional low-cost carriers and a policy push for the travel and tourism sector.

The GoI has also initiated various measures, including the regional air connectivity scheme UDAN, to bolster the overall travel sector.

Moreover, the Indian airline industry is growing at a fast rate as demand for travel is being bolstered by favorable government policies, growing affluence, increased trade, and maturing transportation infrastructure.

Global departures for business objects are relied upon to increment by about 5.4% from more than 157 million out of 2017 to reach ~166 million out of 2018. Increased connectivity through low-cost carriers has also helped in increasing the number of people traveling for business.

With business travel now being considered as an important aspect of the overall growth of any corporate/business, the average spending of a corporation for its travel needs has increased significantly over the past decade.

For most organizations, travel and expense spending is now the second largest operational expense after payroll. Small-and-medium-sized companies have also begun to realize the importance of corporate travel for the growth of their business.

Out of the total business travel market in India, ~$7 billion11 comes from flights and hotels of corporate SMEs.

 

From Automation and Digitalization of Travel and Hospitality industries

 

With the ascendancy of the web in the late 1990s, the communication between the major players in the travel and hospitality industries, such as travel agents, hoteliers, airline managers, transportation employees, and travelers was steadily digitalized.

New online services mushroomed in both sectors. Prospective holidaymakers could soon access reliable information from home and purchase travel services online.

The expansion of online travel publications exemplified the rising effect of the web. Many tourists sought-to discover unique sites far away from the well-trodden routes of package tours.

Since the 1990s, the digitalization of communication has significantly modified how information can be obtained, stored and distributed. ICT systems were integral to different changes in traveling.

Enterprises established in the travel and hospitality market needed to quickly adapt to technological advancements in software, hardware, and network systems, which required considerable adjustments to new work routines.

However, the ubiquitous introduction of ICT systems also provided may travelers with an opportunity to communicate a common passion for traveling on a noncommercial basis.

Trawex is a world-class travel technology company dedicated to the global travel industry. We give the technology which keeps the travel part moving-from starting the pursuit of making a booking, from evaluating to ticketing, from overseeing reservations to overseeing check-in and flight forms.

Our desire is to encourage the whole travel venture from door-to-door and in the process improve the moving experience for a huge number of individuals consistently.

 

Travel Technology Solutions for Agencies & Tour Operators. Talk to Expert Today!

 

Trawex does this by joining up and connecting key players in the travel industry: travel agencies, corporations, airlines, airports, hotels, and more. We give those companies the tools to manage their own business more effectively.

Trawex Technologies helps companies to manage a wide range of travel products—flights, hotels, and activities to offer packages, quotes, itineraries, launch marketing initiatives, process payments, and track the financial health of the organization. We have experience in integrating many Travel XML suppliers to our OTA platform.

We are providing online travel solutions and booking engines for travel agents. We integrate considerable real-time domain knowledge supported by strict quality control processes to convey business technology solutions across various technological stacks.

One of the major advantages of E-commerce is its faster processing method. E-commerce portal development offers an opportunity for the buyers to purchase and sells products and services online as opposed to going to the shops and choosing.

We offer the most advanced travel agent software solutions for travel businesses in all areas and spreadsheets. While using our providers and services in your company, you can considerably boost your sales and extend your customer's database and sub-agent network within a short period.

The integration of our technological solutions in your organization is conducted within a few weeks and more importantly doesn’t demand an increase in staff members or physical expansion of your organization. Introduction to the e-commerce market has never been so simple and fast.

 

Trawex provides Travel Agency management software,travel agency crm software,travel agency booking software globally
 

Trawex, the leading travel technology company offers an online booking system for a travel agent who allows booking flights, hotels, car rentals, holiday packages, and other products international.

Our online travel booking solutions aren’t meant only for online sales of travel products, but also for work inside your company. We provide both web-based solutions for cloud sales and client-based solutions for use by your staff and call center.

No matter if you have an internet portal or need a new one, Trawex has a solution for you for all budgets and sizes. We help travel agents to organize, automate and concentrate the working of their travel business with advanced technology so that they can control their travel business with ease.

Trawex implements sales automation, quotation sharing, payment scheduler, supplier management, invoicing and taxation. Also, Trawex helps to generate business by developing and promoting the website and improving its organization's reputation.

We offer travel booking software that helps travel agencies maximize their online bookings while reducing their administrative costs. With our software, you can sell your travel products via multiple channels (B2C, B2B, and B2B2C) and efficiently control your operations through our advanced back-office automation module.

Our Booking Engines can be easily integrated with any third-party supplier(s) of your choice as well as your direct reduced inventory. Today most travelers have no problem booking their hotels themselves. It’s so easy and convenient!

There are price aggregators that give you the best price on the market in seconds, even tools that predict prices using historical data.

There are even Chabot’s that do that for you. So for many people, human agents lose their appeal because they often use the same websites a client can comfortably use.

This isn’t ideal. When you’re using a specialized travel booking software, you get access to the back office and can connect your bookings to the accounting service, receive reports, create invoices, and much more.

 

Role of Travel Management Companies (TMC)

 

Business travel often involves unplanned travel including last minute air tickets, hotel bookings. Without the services of a TMC; these can be difficult to pull together without prior warning.

Frequent modification/ cancellation of flights can add to the already enormous travel costs of a company. The corporate travel management companies can streamline a corporate’s travel by deploying user-friendly integrated solutions like digitized approval workflows and reporting system.

They assist in optimizing planning, approval and booking processes. Free modifications for flights and hotels, reduced cancellation charges, complimentary in-flight meals and seat selection, are some of the other benefits that a TMC partner offers corporate houses.

They are also helping corporates in shifting their traditionally offline processes like travel policies, approval matrices, expense management, etc. online.

This shift to digital process will increase visibility into travel spends and trends, enabling comprehensive MIS reporting.

The business travel management market in India is highly fragmented. ~10 of this market is controlled by global TMCs which primarily serve large corporates.

Thomas Cook, FCM Travel Solutions, American Express Global, Carlson Wagonlit Travel, BCD Travel are some of the key large TMCs operating in the Indian market.

 

Travel agency

 

A travel agency is the species of the genus tourism management. In the organization of tourism, the role of the private sector is conspicuously crucial. In most countries which are in any many manners concerned with the tourist industry, the private sector plays a very important role.

The private area's job isn't connected just in selling the travel industry item however frequently likewise in creating it like numerous people, organizations and companies are engaged with advancing, creating and financing the travel industry.

The travel agency office is one such association in the private part which plays a key and vital job in the whole procedure of creating and advancing the travel industry. It is the travel agent’s job which packages and processes all the various attractions of the country and presents them to the tourists.

 

Characteristics of tourism marketing by Travel Technology Company

 

Tourism is an Intangible, Non-Material Product:

 

No tangible product is bought or sold. Services, facilities, installations are given for a specified time in exchange for money. A room in a hotel, a houseboat, skiing services, and sightseeing tours is carried out to customers or advice or information offered to him by the local tourist authorities.

 

Production and Consumption are interrelated:

 

Production can only take place when the customer is present. Most services can only be personal and to no other person can it be exchanged or transferred. The tourist service can be truly unreliable and hazardous as the client can't see, review, look at or evaluate traveler benefits before choosing to utilize them.

 

A Wide Range of Services Constitute the Tourism Marketing Product:

 

This cannot be provided by a single enterprise. Each component of the tourist service requires a high degree of excellence, perfection, and specialization and its total is a part of the final product.

Normally, the requirement for collaboration and coordination is of central significance in the travel industry promoting.

 

Highly Unstable Nature of the Tourism Demand:

 

Different factors–seasonal, economic, and political, etc. influence tourist demand. Seasonally places strain on the transport system and hotel divisions. So not only is employment affected but also returns from investments.

In these days of escalating violence, political unrest cause fluctuation in tourism growth and even damages it for a longer period.

 

The dominant role of Intermediaries:

 

As in most industries where manufacturers control distribution, promotion, and pricing, in tourism the manufacturers are sales intermediaries like tour operators, travel agents, airline operators, hotel brokers who play the most important role and enjoy superior marketing strength.

Distinctive pricing to suit varying degrees of visitors for various services, bundle arrangements evaluating approaches and advanced techniques to be received by vacationer endeavors is chosen fundamentally by travel sales delegates.

 

Diverse Motivation:

 

Prompt people to take assorted destinations and there is just no solid explanation behind specific choices. The subjective and objective reasons, expectations and desires influence tourist’s choice for holiday destination, type of accommodation and vacation activities which are heterogeneous.

 

The range of services includes:

 

• XML API integration

• Architecture roadmap consulting

• Ecommerce solutions strategy planning

• Travel website development

• Legacy Mainframe to Web Integration

• Integration & interfacing of applications

• Application development & maintenance

• Application testing services

• Production support

• Infrastructure management

• Business continuity services

• Solutions for non-core processes - enhancements, testing, maintenance and support