Showing posts with label Technology. Show all posts
Showing posts with label Technology. Show all posts
"Customer Relationship Management (CRM) is a system for managing a company’s interactions with current and future customers." - Wiki definition. Most of us know what exactly a CRM is. Then why did I repeat it? To emphasize on the word in bold - customers.

As a Travel Business stakeholder, your primary concern is having a universal set of happy & satisfied customers and multiplying that set manifolds over a short period of time. A good CRM system is the first step in that direction.

For Travel businesses, it is a very pertinent question - "When does a company need a CRM"? Very often the question is on the validity of the following hierarchy-
  1. Leads 
  2. Customers and 
  3. CRM System
Which of these should come first? Traditional wisdom would suggest the sequence as outlined above but, traditional businesses are finding it hard to grow fast these days. It is becoming increasingly tough when faced with competition from multiple sales channels. 

For any organisation, a CRM system should always come first. Any lead that you miss without a CRM, is more than just a single customer that you missed; It translates into a habit and results in un-recorded losses. 

Complexity doesn't mean profitability

Often when business stakeholders say "Spreadsheets are good enough for us", they fail to account for this -
Spreadsheets are fine only till your business has reached a certain threshold.
When a Travel Business is being setup and has just started to grow, it is the perfect time to try out multiple CRM alternatives. When the business volumes start going up, it becomes increasingly difficult to change your business processes. Your commitment to client engagement starts from day one. 

If you have relied on spreadsheets till now, it's time you start measuring -
  • Number of leads generated per month
  • Paying Clients/Leads ratio
  • Growth of leads month-on-month
The numbers don't lie. If the numbers are stable and growth hard to come by, then you have missed out on converting more leads into paying customers. Spreadsheets have cost you dearly.

Cost is a very important consideration for growing Travel Businesses. Thankfully, technology has grown faster and is now more affordable. Gone are the days of complex software installations and associated high maintenance costs. With cloud technology, we now have software being offered as a Service (SaaS model). For starters, the software is hosted on the cloud and all you need as a buyer is internet connectivity. What is in it for your business?
  • Plug & Play - zero installation time
  • Lower setup & maintenance costs
  • Automatic updates

Bottom Line
"Spreadsheets are not tools for client engagement". Depending solely on spreadsheets does more harm than any good over a period of time. Travel Businesses should look at CRMs as an important investment in client engagement.
Becoming a market leader requires selling more of your inventory without the added burden of costs. Right Technology is the key here.

Hit the sweetspot

For any Travel Business, be it a traditional or a start-up, it is imperative to identify their strengths. In these days of "best deals", when everything is available online, Travel Companies are facing the squeeze from their suppliers as well as customers. As a business owner, you aim to sell more month-on-month but how? 

Know your Business
Identify your key targets over the next 3-5 years. Software requirements are different for Tour Operators and Destination Management Companies form those of Travel Agents. It becomes more complex if your business is a hybrid. 
  • Destination Management Company(DMC)/Inbound Tour Operator(ITO) 
    Traditional sales channels, if not saturated, are yielding limited growth opportunities. Following pointers should help you decide the best software for your business:
            Q1.   Do you have your own proprietary inventory contracts?

              Q2.   Do you need to serve a network of agents/clients from your office? 
                Q3.   Do you want to sell more via different channels?

          Following are the answers to the questions above :
          1. A Contract Management System (CMS) that gives you the following
            • Digitized Contracts
            • Up-to-date room rates
            • Ready for direct distribution
          2. Back-office automation system to do the following:
            • Instant Quotations/sales for all requests
            • Serve more requests with the same staff numbers
            • Create packages faster than ever before
          3. You need to harness the power of XMLs
            • Use proprietary XMLs to sell more 
        • Travel Agency
          Traditional sales channels, if not saturated, are yielding limited growth opportunities. Following pointers should help you decide the best software for your business:
                  Q1. Are spreadsheets failing to manage your reservations as volumes go up?

                 Q2. Is your inventory management good enough?

                 Q3. Can you create quick offers/deals & market them fast?

                Following are the answers to these questions:
          1. You need a Reservation Management System
            • Bookings & reservation details available at a click
            • Online access from anywhere
            • Track payments without errors of omission and commission.
          2. Get an online Inventory Management System
            • Online management of multiple supplier contracts (rates, rules & clauses)
            • Manage your allotments and avoid overbooking
            • Track your best sellers for smart contracting
          3. You would need a Quick Package Builder that:
            • Pushes the packages created on your website
            • Allows you to market the same to your partners & clients

        Convert more leads into paying customers
        Regardless of whatever Business you are in, it pays to invest in a tool that helps you convert more leads into paying clients. You need a Customer Relationship Management(CRM) system that helps you attain the following:
            • Auto lead generation from e-mails, your website & social media
            • Track followups and staff efficiency
            • Smart reports to improve your business processes

        Getting your technology requirements correct is the first step towards future growth. Businesses often tend to believe that the current setup is working great and spreadsheets are good enough for their business. But, one should pay attention to this:

        Spreadsheets work great only till the time a business breaks a certain threshold.

        Up next:
        CRM v/s Spreadsheets 

        In our previous post "How to choose the RIGHT software for your Travel Business", we outlined the main differences between Software-as-a-Service and the more traditional desktop based software distribution model. Going forward in this post, we try to answer an oft-repeated question -

        "What is my RoI (Return on Investment) on this Software for my Travel Business" ?


        Number of itineraries made manually / per employee / per day = 5
        Monthly Average cost of an employee = USD 600

        Number of itineraries made by a software / per employee / per day = 20
        Monthly Average cost of an Software = USD 1000


        For a company with 4 employees who work for 25 days in a month. A steady state condition is achieved in 2 Quarters post-software implementation

        Case 1:
        Excel or Pen & paperSpecialized Software for Business

        Number of leads reverted to in a day = 5x4 = 20

        Number of leads reverted to in a day = 20x4= 80

        Number of leads served in a month = 20 x 25 = 500

        Number of leads served in a month = 20 x 25 x 4 = 2000

        Growth in Leads served month-on-month with software implementation = (2000-500)/500= 300%!!

        Case 2:
        Excel or Pen & paperSpecialized Software for Business

        Leads conversion = 15%

        Leads conversion rate = 20%

        Number of holiday packages sold = 15% x 500 = 75

        Number of holiday packages sold = 20% x 2000 = 400

        Growth in holiday packages sold month-on-month with software implementation = (400-75)/75= 433%!!

        For a year based on assumptions, 
        Software cost = USD 12000 (costs less than 2 extra employees)
        Revenue growth achieved > 4X

        Added advantage
        For the initial quarters, when 1 employee serves 20 leads a day with Software, you get three spare employees to focus on Contracting/Sourcing and marketing.

        The RoI is hugely positive for a successful software implementation as elucidated by calculations above. The initial investment in terms of money and time get justified by increase in revenue and staff productivity.

        Just getting a software is not a sure-shot way of succeeding. The above figures are subject to following conditions:
        • Software implementation must have complete support of existing employees 
        • Contracting/sourcing should be done more efficiently
        • Analytics data and reports are taken seriously for creating sales strategy
        • Patience is the key to long term and self-sustaining results.

        The days of manual quotations and spreadsheet-based inventory management for Travel Businesses (Tour Operators / Agents / DMCs) are numbered.  Travel Businesses that are aware of these issues stopping their growth are now focused on automating their business processes as fast as possible. With so many software options available in the market, it is a real problem to choose the right one for your business. Here is a quick guideline that can help you in choosing the right product and the right vendor for your business -

        SaaS v/s Desktop-based Travel Software

        1. Know what you want:  Get the big picture right. Invest in software and technology that supports your business growth and helps you cut costs.

        2. Accessibility: 24x7 easy access to your inventory from anywhere around the world is a major pre-requisite.

        3. Functionality: Is it easy to use yet, powerful enough to handle large volumes of transactions?

        4. Costs: Cost to benefit ratio should be done carefully before going for any software implementation.

        5. Updates: Are the updates regular to ensure smooth functioning of the system? The update process shouldn't be a drag on your existing business and instead, be a support for expansion and growth.

        6. Scalability: System should be supportive when your business scales up. Staff training should be easy and not unnecessarily time consuming. 

        When Travel is your core business, it is advisable to seek out the best software solution to supplement your business. A good software implementation is an important investment. It goes a long way in helping you expand your business, grow revenues and expand geographically. Businesses that are growing fast today just cannot afford to stay away from technology and still expect to survive the coming years with consistent growth.The time is right and your decision now will decide the future direction of your organization.

        Follow us for regular updates,snippets and what's new in Travel Technology .

        Are you prepared for it?

        You own a Travel Business and now you intend to go online. You aspire to create something as good as and have already started your work towards it.  Before you go ahead, Let's first break down's business in numbers. in numbers
        • 500,000 room nights booked everyday 
        • 300,000+ properties are available
        • USD 1 Billion+ spent every year on Google ads alone!
        • 5000+ employees around the world.
        These stats prove just one thing: is the undisputed leader in Internet Hotel Booking. It spends a lot and as a result, sells more than anybody else. Owned by Priceline, it competes with its parent company, Kayak, Expedia, and many others. 

        So what do you need to do before you go online?
        Your answers to the following pointers should give you a fair idea of how prepared are you for the long haul ahead-
        • Know your core business. Technology or Travel?
          • Spending years on building a technology backend when alternatives exist isn't always the right thing to do
          • Get specialists to do your technology work.

        • Know your market to sell more!
          • Do you have an online market for your products ?
          • If yes, then create products that cater to your market specific needs

        • Do you have the best rates?
          • Be prepared to spend time and money on contracting 
          • Get the right technology to optimize your contracting

        • XMLs do not always give you the best rates
          • XMLs involve multiple layers meaning higher rates for you
          • You cannot negotiate rates with the hotels/suppliers
        Creating a successful Travel Business becomes a breeze with right partners. Technology is the core when it comes to setting up an online portal. Right technology platform should make you worry-free without burning a hole in your pockets. Once you have decided upon the answers to the questions above, the next step is to select the right technology partner for your long term plan. 

        Follow us to know more about how you can create a successful online Travel Business!
        Did you add a Booking Engine to your website last year, last month or sometime back?

        You are surprised that your sales haven't grown as fast as you expected? If yes, then you are not alone!

        Want to know why your sales didn't increase?
        • Your Booking Engine came with inventory at inflated prices.
          • It did NOT have your proprietary inventory.

        • Booking was too slow.
          • Customers won't wait even for a minute for inventory to load.

        • Your DMC Business needs a complete inventory management system not a booking engine alone.
          • Best Inventory at best prices is your asset. Grow it with technology

        •  You still miss a large section of your leads 
          • You need a CRM to convert more leads.
          • Your staff cannot handle too many leads without tech support

        Increase Your Sales

        Do you wish to move beyond a symbolic Booking engine and use technology to increase your sales and margins?

        Get in Touch

        Connect now to know more!

        Skype: moxiter.sales
        Call now: +971 56 631 1082
        Complete Automation that makes selling holidays a breeze
        A successful Travel Business requires complete business & sales automation to stay ahead of the competition. Moxiter CRM provides complete automation for your Travel Business processes. It does that without forcing you to buy expensive plugins. (which you are forced to do especially when your existing CRM solution is found wanting)

        All your queries via web/e-mail/calls become automatic leads. Leads that you can follow up and maintain a log of timelines and current status. A snapshot below:

        CRM features for your travel business:
        • Contact Management Database
        • Workflow automation
        • Lead Capture Tools (Email and Web)- Completely Automated
        • Sales LifeCycle Management
        • Sales Automation
        • Task Assignment
        • Reporting
        Get only the reports that matter to your business. get rid of the junk data! 
        • Business Reporting
          • Number of Leads, Leads Conversion
          • Sales by clients/dates/destinations etc
          • Number of customers traveling in a single day etc.
        • Financial Reporting
          • Sales Reports (Net sales, Margins/Markups etc)
          • Net Amount due/payable
        Tell us your requirement and we get it done instantly!

        Moxiter CRM is a powerful tool for businesses that are still dependent on Excel. You can continue to use excel as a calculator but it can never be a database. Time for a change perhaps?

        Getting new technology for your Travel  Business is now super easy!

        25% off

        on migrating from your old software.

        Free Trial Period.
        Guaranteed smooth Transition.
        5 excuses Travel Businesses give for No/Failed IT:

        "We don't need an IT system now!"
        62% avg. growth in lead conversions in the Q1 reported by our clients.
        Do you want to miss out ?
        "My existing system works just fine"
        Are you 100% satisfied? Are your custom requests serviced on time ?

        "My old IT system didn't work"
        Try out our reliable IT solution trusted by 100+ businesses across the globe.

        "New Technology is expensive"
        Pay only for features that you need on a monthly subscription model.
        FREE Trial available.

        "I would need a huge IT team to manage & operate"
        Cloud based & fully Automated system. We take care of IT while you grow your Business.

        We would like to give you a reason to get rid of your old IT system that simply, does NOT work for your business.
        LEARN MORE
        Starting Today25% off all purchases of Technology on for Travel Businesses, who believe that their old systems are junk. This without-exception sale applies to everything we offer in terms of technology for travel businesses.
        Business intelligence that works!

        Daily/Monthly/Annual reports & much more at single click.
        A successful Travel Business depends heavily on efficient & accurate business reporting. But, reporting is different for Businesses that are small v/s large enterprises. Only at Moxiter, we understand this difference of business requirements!

        You have access to custom-designed reports that suit your business.
        A sample report is attached below:

        Get only the reports that matter to your business. get rid of the junk data! 
        • Business Reporting
          • Number of Leads
          • Leads Conversion
          • Sales by clients/dates/destinations etc
          • Number of customers traveling in a single day
          • Turnaround Time
        • Financial Reporting
          • Sales Reports (Net sales, Margins/Markups etc)
          • Net Amount due/payable & much more..
        Tell us your requirement and we get it done instantly!
        Know More

        Moxiter 2.0 is LIVE now!

        Next-gen Travel Technology

        Dear partners
        Moxiter 2.0 is live now! An advanced version of our award-winning software that gives more power to you and makes your business even more simpler.

        New features :
        1. Advanced XML compare
        2. Automated Lead generation
        3. Automated Task assignment
        4. Advanced reporting
        5. New improved Accounting module with automated invoicing
        Ease of use & no learning curve
        The system is still super easy to use and you need not train your staff for weeks before starting to use the system.
        Plug & Play
        It cuts down the delivery time to a matter of days!

        Secure & Reliable
        With deployment over secure servers we guarantee to reduce your costs and
        Don't wait. Get your best technology today!
        Know More

        7 Reasons:

        Why businesses around the world are opting for Software-as-a-Service (SaaS)?

        Traditionally, Businesses went for development and maintenance of IT infrastructure very aggressively that involved phenomenally high expenditure. But, of late, things have changed. As a growing business now you can access the same software on-demant via the internet from just about anywhere. All this at drastically reduced costs. This is what makes the SaaS model.

        The SaaS model has flourished in recent years because of the many benefits it offers to businesses of all sizes and types. Here’s what’s driving customers to take advantage of SaaS solutions:

        1. Cut Costs - Right from planning to usage after deployment, a firm can make huge savings. You get a free trial for 30 days to help you decide whether you want to use the software or not. Also, the pay-as-you-go model saves you huge cost commitments at the very beginning and you can save every month! You can save as much as 70% of your software costs by migrating to SaaS.

        2. Cut Deployment Time - SaaS is usually plug and play with one time configuration. When you need newer capabilities with a smaller IT staff, SaaS is the way to go forward. You end up saving on time and cutting down costs that go a long way in scaling up your business.

        3. Core capabilities - Focus on your core capabilities and leave the rest to the experts. Technology development should be an add on to your skills and resources. Let it not be a drag on your business. Employee Productivity and efficiency grows up faster and your business in turn, gets a positive outlook.

        4. Complete Mobility - Access your offices and work from anywhere, anytime with complete guarantee of security. Your traveling should not hurt your business. Legacy software installations just cannot provide that function. In a modern world, where businesses are not restricted by time or by location, SaaS gives you complete mobility option.

        5. Get Easier upgrades - The costs as well as the responsibility of updating the software is now on the SaaS provider. You do need to pay a single penny for the updates that are crucial to any Business.

        6. No Downtime - With SaaS, your software problems are resolved much faster! The software is standardized and the responsibility lies with the vendor. this results in unmatched quality and 100% reliability.

        7. Seamless Integration SaaS vendors can scale indefinitely to meet customer demand. Also, there is an option to link with you existing systems and productivity suites. To meet your distinct needs, you get an option for customization on demand.
        As a business, this is your chance to get ahead of the technology curve. Software that is secure, accessible from anywhere around the world and something that doesn't cost a bomb is already here! Legacy systems will never be able to match up to the growing business needs. Precisely why, the world is moving towards SaaS.