ERP for Travel Industry: Introduction, Benefits and Best ERP Software
ERP for Travel Industry: Introduction, Benefits and Best ERP Software
These days, the tourism and hospitality industry is one of the most powerful industries. It has become the catalyst of the local economy of many countries, the sector with a high rate of the capital, a payback, and profitability of the investment, tourism forms rose domestic product, activates balance of foreign trade, build extra openings and this offer population with the employment. As tourism and hospitality industry processes at a rapid pace.
No doubt that the competition in this sector is also very high. When it comes progress in the travel industry, here customer services of the highest level, accurate information about the customers and all the provided services are compulsory for travel companies.
Here, Enterprise Resource Planning or ERP comes as a perfect solution. It meets all the demands of a modern travel company. It allows companies to provide exceptional customer services, maintaining cooperation between the departments, securing the accomplishment of the daily work and bringing structured data in real-time. The system also supports agencies in cutting the operational cost down and enhancing the company’s efficiency.
The Travel ERP Solution
ERP system tackles the issues of a distributed architecture by offering a travel business with an integrated suite of applications for the front office, mid-office and back-office business processes. It holds the ability to eliminate silos of isolated data and business activities with a common data model and standardized process in different processes.
What about the cost?
A lot of people in the travel industry assume an ERP system as a monolithic, unwieldy, software solution perfect for global companies. But the fact is that in the last few years, ERP has developed rapidly which results in smaller, nimbler systems targeted at specific industries. These systems are focused at small to mid-sized companies, both in terms of a range of functionality as well as an investment cost.
Features and Functions of ERP in the Tourism Industry
ERP system is an excellent tool for administrative information and control. It can be widely used to maintain every level of tourism and hospitality industry- human resource, management of finance, service, maintenance, stocking, projects, investment, risk, decision-making, payoff analysing, region planning, and much more.
Benefits of ERP in the Tourism Industry
In the present environment of active competition, a travel company needs to use every advantage and tool to stay on the top position. The ERP system is one of those advantages. This is being tailor-made to the needs of the tourism sectors; it allows saving labour hours of the company and also its money. ERP solutions can be at an advantage thank to the following benefits:
- Integrated Information: ERP System is quite powerful in reducing the need for buying and maintaining multiple software systems, allowing all the departments in the industry to perform different functions simultaneously. This software also provides data reduplication- duplicate copies of data are eliminated, reducing storage overheads and enhancing the data accuracy and also provides quick access to valuable operational information like hotel occupancy rates, booking ratios, operating profits as well as total sales.
- Reporting: ERP provides accurate reports on all major metrics. From sales averages to conversions rates, travel agencies at access to a wide range of data at their fingertips. It also allows us to segment data to discover trends among lucrative demographics, like frequent flyers. These data enable tour agencies to manage cash flow, create marketing campaigns and cut costs across their organizations.
- Customer Engagement: ERP solutions are read for customer engagement. It displays an abundance of information on a single dashboard, making it a perfect way to access customer information like names, addresses, previous interactions and more. With the help of ERP software, companies solve queries and problems of people effectively and that boosts customer engagement and loyalty.
- Effective Sales: Earlier, ERP was not considered as sales too. But most modern ERP solutions have sales and marketing modules that provide a holistic view of customers’ activities. Travel companies now use these programs to upsell and cross-sell services- flights, hotel, rooms, and travel packages- to the customer that provides them with an additional source of income.
- Human Resource Management: ERP works amazingly in the human resource management segment; it allows companies to manage employee’s information in real-time. It also helps companies to create work schedules, handle payroll information and make sure that there is enough staff for a particular task. The software collects hue information related to employees, from staff turnover to average tenure. The HR team uses this data to forecast labour demand and acquire new employees. Overall, ERO is a powerful resource to get support in managing human capital.
- Payments and Billing: Approx all companies look for a solution from which they can manage their cash flow efficiency. ERP allows them to do this. Travel ERP is an all-in-one payment and billing super-system. With its support, the accounting team controls revenue, pays suppliers and invoice customers as well as clients. Additionally, modern ERP systems are amazing for travel companies with a secure framework for collecting payments also. Even this ERP system creates a sensitive bill as encrypted, safeguarding customer’s payment details.
- Effective Management: For those who are looking for a solution to enhance their process, the ERP system eradicates labour-intensive manual processes, makes data collecting more efficiently and accurately. ERP software makes controls of contracts with hotels to discuss optimal conditions, of vouchers for reservations and invoices.
ERP is the most comprehensive piece of software for sales, reporting, management, human resources in the market; it does multiple tasks for travel companies of all sizes.
Best ERP for Agencies and Hospitality Industry
Now, you are aware of the benefits of ERP solutions. It’s time to find one of the best travel agency tools for your travel agency. We have listed here top ERP solutions for the Travel industry;
Oracle Net Suite ERP
One of the popular ERP solutions for the hospitality industry, Oracle NetSuites ERP works to streamline the process. It provides main features like Accounting, Asset Management, Audit trail and more. The ERP system can be easily used by Start-ups, SMEs, Agencies, and Enterprises.
Crest ERP is a cloud-based enterprise resource planning solution designed specifically for the hospitality industry. It mainly provides fundamental modules such as budgeting, document management, CRM and more.
If you are looking for an all-rounder solution to grow your business, try Check front. It is designed to provide easy solutions for your booking needs. It also provides detailed insights on all your reservations to support you make smarter business decisions.
Otrams is another power travel planning software; it empowers your travel business with Qtech Software travel management system. It features some amazing features like online travel booking, engine, back-office software travel reservation management, and travel inventory management with various API integrations.
Tally.ERP 9 is a popular ERP software for travel agencies and the hospitality industry. It brings multiple features and functionality. One major disadvantage of this software is that it is available just on Windows platforms and does provide mobile support.
Toogo Tour Software
One-stop solution for travel companies, Toogo is a SaaS solution. It takes care of all activities such as quotations, trip building, finances, sales & marketing, logistics, bookings and more. This travel software is able to efficiently manage all your complexity in one place.
Travelopro ERP is a perfect solution for travel companies, business travel agencies, leisure travel agencies, single-site travel agencies and more. It integrates bookings made inside third-party import features. This way, you can process orders and paper works. This application offers a greater experience, created all plus products interconnected.
In the era of spontaneous results, people want their services provider to give accurate, fast, and flexible offers. Therefore, using a perfect ERP for a travel agency can boost your business efficiency and attract new customers. Furthermore, it also helps your business to address a variety of customer bases arising nowadays. Choose from the best ERP solutions listed above and take benefits.