Hospitality Management
Article | August 28, 2023
Contents
1. Introduction
2. Enhancing Operations of Travel Businesses
2.1 Constant Assistance
2.2 Increased Efficiency
2.3 Travel Spend Reduction
2.4 Advice and Insights
2.5 Travel Policy Compliance
2.6 Greater Knowledge and Visibility
3. Leveraging Business Functions with Services of Agencies
3.1 Travel Management
3.2 Passenger Assistance
3.3 Consulting
3.4 Marketing and Internal Communication
3.5 Technology
3.6 Leisure Services
4. Conclusion
1. Introduction
Travel management agencies empower business travel with in-depth analysis, reporting and constant assistance. They improve efficiency in business operations and reduce travel spending through a subscription or one-off payment for their services. With their profound knowledge and vast network of service providers, they offer more discounts and offerings to the travel company’s clients. This feature enhances the visibility and customer reach of the company. They also ensure travel policy compliance, consulting, and other services for better results.
2. Enhancing Operations of Travel Businesses
2.1 Constant Assistance
It becomes challenging to manage multiple providers simultaneously, so travel management agencies fill the communication gaps and prevent confusion during travel planning. They reach out various customer support teams and keep track of all communications as an all-in-one solution for global business travel. Some TMCs also assist in day and night shifts to assist with last-minute travel booking and urgent changes in the travel plan.
2.2 Increased Efficiency
Travel management agencies help to streamline the booking process. The travel agents would design a comprehensive travel program with travel arrangements as per the requirement of the clients. In addition, they would handle the logistics of making travel arrangements for multiple clients simultaneously.
2.3 Travel Spend Reduction
Travel management agencies may charge for a subscription or one-off payment via business travel credit cards for their services. But it leads to significant investment savings, cutting costs over an extended period. They have a vast network of travel service providers offering unique discounts for multiple services. The TMC officials have sound knowledge of reservation availability during particular periods and the destinations at the cheapest fares; that takes care of complex, repetitive and time-consuming travel processes of businesses. Such services make it easy to plan trips, make changes to reservations, and get reimbursed for travel costs.
2.4 Advice and Insights
TMC professionals understand the working of the travel industry at its core. As a result, they provide valuable advice on spending the company’s money for greater productivity. In addition, they are experts with in-depth knowledge of new destinations, the best routes for intra-city travel, and general compliance with policies of national and international trips. Moreover, travel management agencies can help to ensure that travelers are fully prepared and equipped for their journey by providing expert guidance and advice on travel requirements, health and safety protocols, and other important considerations.
2.5 Travel Policy Compliance
Compliance with travel rules, regulations and policies is vital for travel expense management. It ensures transparency and safeguards the privacy of travel companies or individuals. The travel management agencies adopt a travel policy to ensure efficiency in executing travel business processes.
2.6 Greater Knowledge and Visibility
Unclear travel processes cause malpractices and conflicts between travel companies and their clients. Travel management agencies minimize these risks through transparent travel processes. They provide real-time reports of reservations and bookings. They help manage travel within strict budgets, offering travel trend analyses for better decisions. In addition, they manage travel itineraries and assist businesses in every process.
3. Leveraging Business Functions with Services of Agencies
3.1 Travel Management
Travel management is the base of organizing and handling travel business, reservation of transport tickets, searches for accommodations, car rental, etc. Still, new technologies have transformed the traditional methods of travel operations. In addition, it undertakes price comparisons or strategies for more deals and discounts.
3.2 Passenger Assistance
As global travel continues to increase in frequency and complexity, travelers are often faced with a myriad of unforeseen problems and issues that can potentially derail their plans. Such issues may include repatriation due to illness, accident, or emergency, lost luggage or documents, flight cancellations, and many others. In order to effectively manage and resolve these issues, it is essential to rely on the expertise and resources of travel management agencies. These agencies specialize in providing comprehensive travel solutions and support services to individuals and organizations alike.
3.3 Consulting
Consulting services require taking care of different aspects based on the information of interest for the traveler, like traditions of the destination country, recommendations, cultural references, mannerisms, etc. Furthermore, their efforts are geared towards minimizing costs, maintaining control, and offering up-to-date guidance on travel policy.
3.4 Marketing and Internal Communication
As a travel management agency gains expertise, it becomes proficient in furnishing robust assistance in the formulation of travel policies for businesses, along with facilitating efficient communication among employees. The process of policy preparation entails regulations pertaining to business travel expenses and management, which the agency is adept at handling.
3.5 Technology
Utilizing the most up-to-date and advanced technology is crucial for any travel company in today's world. This allows travel companies to request and compare travel services such as booking tickets, finding suitable accommodations, managing billing, and providing emergency services in a more efficient and effective manner. With the latest business travel software, the companies can leverage automation and artificial intelligence to streamline their operations and offer personalized services to their customers. For instance, chatbots can assist customers with their travel plans, provide recommendations, and handle queries in real-time.
3.6 Leisure Services
Travel management companies also offer direct discounts or revised policies for travel and leisure activities in exceptional cases for the company’s employees and relatives. They provide value-adding services meeting the current expectations and needs of the companies through a comprehensive management of corporate travel.
4. Conclusion
Travel management agencies help travel companies in every aspect of their business, from travel management, passenger assistance, consulting, marketing and internal communication, and technology to leisure services. They provide constant help, increased efficiency, valuable insights and business advice. In addition, with profound years of experience, knowledge and a solid network, they give enhanced visibility to travel businesses. They reduce travel spend and ensure travel policy compliance between travel companies and their clients, encouraging customer loyalty and trust.
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Hospitality Management
Article | July 4, 2023
Airports are embracing data and technology to improve the experience for both passengers and vendors. Such ‘smart airports’ where internet-connected devices control functions like thermostats and security using cloud-based technologies to enhance the consumer experience, are quickly becoming commonplace.
The Emergence of Smart Airports
Smart Airports were made to solve control and management problems that airports are having more and more of because of the number of people and goods that go through them. Because of this, experts from all over the world are focusing on smart airports, which use the latest developments in telecommunications, infrastructure, robotics, and the Internet of Things (IoT).
Advantages of Smart Airports
Real-time data improves operational efficiency.
Cost reduction, productivity improvement, and operational perfection.
Demand optimization through passenger flow control and entry automation.
Improved passenger handling, flight control, check-in, etc.
Biometric monitoring systems, advanced cyber security, and reliable operations and maintenance improve surveillance and security.
Better ground and health surveillance (cleaning frequencies, availability of amenities, etc.).
The Revenue Angle
A smart airport uses Wi-Fi access points as sensors to track passengers’ location and record their dwell times. With this data, the airport could place signs and ads where they would be seen. While landing travelers previously made few purchases, this airport placed signs for products they may want to buy before leaving where they would be seen. The result was increased sales for retailers and landside revenue for the airport operator. (Source: Deloitte Study)
Traveler’s & Airport Operations Experience
A traveler constantly interacts with technology systems and stakeholders during his journey through the airport. The smart airport systems influence the traveler’s safety, convenience, and overall experience at the airport. Operations like bag tracking, indoor navigation, in-store beacons, geo-fencing, queue analyzer, biometric screening, Wi-Fi passenger tracking, and building management systems are powered by IoT implementations that make an airport smart.
Creating a Smart Airport: The Checklist
A well-structured planning process can assist airport leaders in navigating all of the options and gaining confidence in achieving the airport's business objectives. The checklist includes the following steps:
Selecting an IoT solution that aligns with your business goals
Determine the organizational and technical abilities required to implement the solution
Craft a road map to address gaps between the required abilities and existing abilities
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Hospitality Management
Article | June 29, 2023
Most people associate the term "blockchain" with cryptocurrencies such as Bitcoin, Dogecoin, or Ethereum. Blockchain is the technology behind cryptocurrencies, but it is also a technology in its own right that has many uses.
Blockchain is an immutable ledger that tracks transactions and assets, like cash and patents. All parties have access to the same data simultaneously, eliminating intermediaries and making it a cost-effective way to track assets. It could, for example, track a flight delay and automatically refund a customer’s money.
A German blockchain start-up Etherisc launched an insurance product, FlightDelay, which uses blockchain to automatically issue policies and execute payouts for flight delays and cancellations on around 80 airlines. Customers can buy policies with cryptocurrency and receive claims in cryptocurrency.
Flight delays are where blockchain-based insurance can make a difference in the travel insurance domain. Data on delays and cancellations is readily accessible, and all assist in automatic payments. This way, companies that offer flight insurance can avoid higher claims-processing costs and save on data protection costs because blockchain is secure.
U.S. Insurance Regulations Prevent Blockchain-based Travel Insurance
In the U.S, there is a need for state-by-state approval for changes in regulations. Blockchain’s appearance in the U.S. insurance industry may take another ten or fifteen years. However, the potential of blockchain-based insurance products is huge. Insurance companies can sell them at much lower costs compared to traditional insurance products.
Blockchain Can Change the Travel Insurance Business
Interestingly, the U.S. already has an insurance product similar to FlightDelay but none of them have the blockchain component. Called ‘parametric insurance’, an auto payout is done when some parameter is violated. Using blockchain technology to offer this insurance could save money and enable insurers to pass on some of the savings to the customers. Insurance industry experts think blockchain will definitely make a mark in the travel insurance domain and can change the way travel insurance businesses operate at large.
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Commercial Travel
Article | May 31, 2022
A holiday abroad is an exciting experience, a chance to be in a new place where you can enjoy the sights and food, and have that much-needed break you need. Whether you are off to visit family or friends or plan to embark on an adventure as a tourist, holidays are the best way to leave work behind for a while and do something nice for yourself. With all the hard work you have been doing, you deserve a break.
Going on a trip also takes careful preparation to ensure that everything goes according to plan. If you start preparing in advance, you can cover all the details and relax while away, knowing everything is in place. It is also best to get travel insurance. With it, you provide yourself with coverage against certain travel risks like cancellations, missing luggage, and medical expenses, should you require them while away from home. Of course, it is always best to be safe than sorry, and details like this reduce stress and keep you prepared for anything on your holiday.
Below are some travel preparation tips for a stress-free and enjoyable holiday.
Try to travel light
Travelers find it challenging to pack for a trip. We tend to take extras along with us, fearing that something could come up and we might need certain items. However, it is always better to pack light, as long as you have the essentials with you. Avoid over-packing and stick to the necessities for a less stressful vacation. If you are flying to your destination, have your travel documents organized and in your possession at all times. Find out what the weather is like where you are going and choose suitable clothing to pack.
Be prepared for anything
You never know what can happen during a holiday trip. You may encounter a few snags such as delays, a change of weather conditions, closed roads, etc. So, prepare for unexpected situations and know what to do if they happen. Furthermore, arriving hours earlier than your flight at the airport keeps you relaxed, which you should be since it is your holiday. If security lines are long and time is of the essence, being there early helps you take it easy rather than rush to reach your flight on time.
Book your flight as early as possible
Ensure that you get to leave on your preferred dates by booking your flight as early as possible. There have been a few changes in many airline companies where people can quickly make cancellations and other changes. Additionally, there is now limited seating in planes. This means that they fill up the seats faster. Apart from booking your flight in advance, it would also help to book hotel accommodations and other planned activities early on.
A holiday is even more enjoyable when you have planned everything out. Make the necessary preparations so when you get to your destination, all that's left to do is relax and enjoy your vacation.
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