4 Proofs that ERP is A Game Changer in the Travel Industry

 

We all know how an ERP can boost the company’s performance, and could even triple it if used right. An ERP automates various business operations, streamlines day-to-day processes, optimizes sales and customer engagement, manages HR, creates numerous reports, and provides travel agents, hoteliers and tour operators with the resources necessary to manage their businesses. Let’s now take a deeper look at each of these main functions.

 

  1. Business Operations Integration:

The primary function of ERP is the integration of multiple business processes into a centralized application. This eliminates duplicated and excessive data, and provides quick access to multiple operational data, which makes it easier to analyze data, generate various detailed reports, and accurately measure detailed KPIs organization wide.

 

Mainly, applying the system to the entire industry will make everybody in the market updated with the latest market and industry information. Moreover, it automates the communication among suppliers, whether between a travel agent, hotel, a restaurant, or any other providers involved in the service delivery chain. This function eliminates lead time between replies/ confirmations.

 

  1. Sales and Customer Interaction:

An ERP collects a large amount of information and display them on a single dashboard, making it easier to access customer information – names, addresses, previous interactions, locations, social media profiles – in minutes, which increases customer engagement and retention. All of this information is then used to cross sell and eventually reaching maximum profit.

 

Taking this to the industry level, businesses will have the maximum info available about the customer in hand, up to his likes, dislikes, past experiences, travel choices, and every little detail that could benefit giving the customer exactly what he needs quickly, effectively, and efficiently.

 

  1. Human Resources Management:

If you’re still living in the ages where HR just hires/fires employees, then it’s time to keep up. The human capital is a business’s most valuable asset. When it comes to ERP & HR, the capabilities are limitless. ERP allows companies to create work schedules, handle payroll information and ensure there is enough staff for different tasks. Also, it collects a wide range of employee information, from staff turnover to average tenure, team velocities and performance, KPI reports, and much more information that can never be acquired manually. HR staff then use these data to forecast labor demand and acquire new staff.

ERP, in our theory, will help businesses measure their performance against the entire market, thus revealing their weakness points for them to resolve the issues causing it, and emphasize their strength points, and helps them maintain it. It could also, give accurate real time data about the latest market trends, market share map, and many other critical info.

 

  1. Reporting, Reporting, and Reporting Again:

ERP provides businesses with accurate reports on almost any key metric possible. From sales averages to cost averages, to conversion rates, companies get to have access to an unbelievable range of data at their fingertips. They can even segment data to discover trends among lucrative demographics, such as frequent flyers. All this information allows travel companies to manage cash flow, create marketing campaigns and cut costs across their organizations.

 

Taking the reporting features available up to the industry level, and we’ve got an unstoppable machine of data generation. The possibilities and capabilities in this field in particular are genuinely limitless. Everybody will have access to ANY possible data combination required to have any reports or statistics they might need.

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