On August 12, 2024, GP Solutions announced that they will be participating in a conference entitled ‘Digital Transformation 2025’ and arranged by Travel Technology Initiative (TTI), a membership organization based in London.
The event will take place on September 25 at Holiday Inn Regent’s Park in London. The conference promises to be a landmark gathering for industry leaders and travel tech enthusiasts eager to explore the prospects of digital transformation. The agenda will include several presentations from travel tech experts, who are going to share their insights backed up by real-life case studies.
Those who wish to know more about the event may find additional info on the Eventbrite page. To make the event accessible from anywhere in the world, the organizers offer a choice between two options — attendees may visit the event in person or watch its online streaming.
GP Solutions, a provider of booking travel software, acts in the capacity of the sponsor of this event. Maria Bondarenko, the company’s VP of Product, will be a keynote speaker and share her insights on Practical Ways to Improve Business Efficiency (for DMCs and Tour Operators).
Below are key highlights from Maria’s upcoming presentation.
“Against all the tech advances happening in the world, one may say that Destination Management Companies (DMCs) and Tour Operators are even forced to embrace trends to compete in an era where technology is rapidly evolving. The tech-savvy approach to doing business ensures the consistent level of efficiency and enhanced performance, minimizing time from the initial engagement with a customer to a paid invoice and itinerary description in their email boxes.
Digital transformation refers to the integration of digital technologies into the everyday life of the business. It is an evolutionary shift in strategic thinking and business culture. Businesses embrace technology in engagements with people and data to redefine processes and bring more value for all stakeholders.
Digital changes manifest themselves in different ways. For some, it is the elimination of the need for the guest to wait on the phone to book their tour, or for the receptionist to find guest information in handwritten notes. For others, it is rooted in a reliable travel booking system where bookings and changes can be made with a single click. Some see its potential in digital marketing and promotion when adverts can be targeted at specific customers based on their location and relevant demographics.
Below are the examples of the key techs underlying these processes.
Big Data Analytics
Involves the collection, processing, and analysis of large data sets to uncover insights that can drive strategic decisions. For DMCs and Tour Operators, this means being able to create new travel packages and offer personalized travel products, predict customer preferences, and optimize pricing strategies. Embracing the big data potential, a company can stay competitive and responsive to market demands, since it studies its existing and potential customers and understand them better. Moreover, data analytics can help identify operational inefficiencies and areas for improvement, leading to cost savings and better resource allocation.
Automation
Streamlines repetitive tasks, saves time, and reduces errors. By automating processes such as booking confirmations, payment processing, and itinerary management, travel companies can reduce human errors and at the same time free up valuable human resources to focus on more complex tasks that require personal attention. Automation not only enhances productivity but also ensures consistency and accuracy in service delivery.
Customer Relationship Management (CRM)
Essential for enhancing client interactions and building loyalty. These systems enable businesses to manage customer information, track interactions, and provide personalized service. Industry stakeholders will be enabled to understand their customers’ needs and preferences better, leading to more effective marketing campaigns and improved customer retention. Stronger relationships with clients will allow them to drive repeat business and positive word-of-mouth referrals.
Cloud Computing
Offers greater flexibility, scalability, and accessibility. For travel businesses, this means being able to access data and applications from anywhere, at any time, which is particularly useful for a geographically dispersed workforce. Cloud solutions also provide robust security measures and disaster recovery options, ensuring business continuity in case of unforeseen events. By adopting cloud technology, companies reduce IT infrastructure costs and improve operational agility.
AI and Machine Learning
In travel, it enables businesses to optimize operations and enhance customer experiences. For instance, AI can be used to predict travel trends, automate customer service through chatbots, and personalize marketing efforts based on individual preferences. By implementing ML algorithms, companies can analyze vast amounts of data to identify patterns and make informed decisions. This not only improves efficiency but also leads to higher customer satisfaction.
In general, digital transformation is the ultimate destination for tour operators and DMCs and the sooner they jump on this wagon, the more chances they have to beat the competitors. The industry must transform to remain relevant and competitive and make more informed business decisions from the data that exists”.