ERP stands for Enterprise Resource Management. Every facet of the data required to run an enterprise needs to communicate with each other for the smooth functioning of the same. The islands of your data do not talk to each other for you to have a prim result by the end of it.
It takes brunts of manual labor to piece everything together. They don’t share data which affects efficiency. Your travel platform needs to know which seats on a plane are booked to show the availability right. The airline company needs to know which seats were chosen by the fresh customer, and so on.
ERP brings the solution to this by being the integrative software that brings these islands together. It centralizes all the information in an organization. The information becomes connected end to end.
Here are 5 ways a cloud Travel ERP can help travel agencies:
1. Integration of Processes
For years now the business world has been relying on the enterprise system (as they call it) and recently the travel industry has started adopting it too.
The interrelationships between the retailers, wholesalers and the rest of the service providers are a complex web with the global provision and accession through the internet has raised customer expectations that have brought the travel industry to its knees working for the ultimate travel experience.
In the beginning there is a disturbed architecture where there are different software applications for all kinds of processes. From inventory to bookings to payrolls to accounting, every process requires a software.
With a cloud-based ERP it’s easy access to all the required information as it brings all these processes on one platform that can be accessed from anywhere anytime. Consider it a self updating of information. It provides a single view of your business and makes it easy to analyze data such as hotel occupancy, rates, booking ratios, sales etc.
2. Customer engagement and ERP as a sales tool
The enterprise system works to engage customers more and also generate leads. With the centralized operational workflow the accession to customer information becomes easy for faster choices and check out. It helps form an equitable loyal customer base which makes interaction and query solving a much easier task.
A central system for attending to all the queries regarding whichever process makes it easier for the customer to approach the service provider with more faith and reliability. Customers are able to browse and book travel products with live rates which boosts sales.
ERP wasn’t used as a sales tool before but modern travel ERPs have a sales and marketing module which helps them review customer activity. It becomes easy to keep patterns and interests into notice and reach the customers easily with pre-made packages that might be of interest to them.
3. Payments and Billing
A cloud based travel ERP system optimizes the transnational flow, product information and operational data through various locations, workflows and forms. It is like a bringing together of operations. In travel, the upkeep of information despite the geographies can be very difficult. A brunt of isolated data is put together to be presented as a standardized, optimized process. But then could we trust our money with the enterprise system?
A centralized billing super-system is constructed which undergoes well-kept security where the customer’s information is encrypted so that it is never to be leaked. This requires no multiple billing gateways. All the bills are paid through one gateway.
Modern Travel ERPs provide companies with secure billing frameworks for the collection of the payments. The personal payment details are always safeguarded. This provides more visibility and control over the activities taking place in the business. Hosting on large cloud networks like AWS, Azure or Google ensures reliability and security of sensitive data.
The reaping benefits of an enterprise system is the knowledge that it offers. The customer base, the destination marketing, the big data etc. give reporting information that help the future travel giants to grow. They provide the travel companies with reports on any key metric. There is a large amount of data on the fingertips of the companies to make further decisions with.
Sales averages, conversion rates, etc. allows them in estimation or forecast. It helps to plan and control their business according to the lucrative demographics of the current trends. It helps the travel companies to manage the cash flow, create campaigns and manage profits along with cost cutting.
5. Human Resource Management
The management of human capital is one the most unignorable giveaways of enterprise systems. It helps manage the organization’s employee structure, job roles, employee information, staff turnover, average tenure etc. The company can focus better on the employee training schemes with a digital review of previous practices and key information. The distinction between jobs, positions, and tasks becomes clearer.
Security roles can be centrally defined and accountability enhanced. Every employee’s information is easily available at hand and the handling of payroll information becomes easier. It lets the travel companies then use this data to forecast their labour demand and the hiring of new staff. A cloud based Travel ERP is a magnificent resource in managing human capital.
A Travel ERP serves its best functions to travel companies of all sizes and nature as the most comprehensive software optimization deal on the market. It being fairly new to the online travel industry is a cost-effective deal and results in profiting inter operability.