Breaking the Chains of Traditional Accounting: How Cloud Software Transforms Travel Businesses

Technology has made a lot of things better, and it is not just for the consumers in the market but for the travel agencies, and businesses too. It is important to note that the travel industry is a highly complex and constantly evolving market, with multiple players eagerly seeking customer attention. Things like internet-based travel search truly transformed the world, and cloud computing software in the travel industry is now taking things to the next level. One of the most common trends in the travel industry is using flexible, reliable and scalable support services for one’s online presence. This is what makes cloud software special as compared to traditional accounting systems. It ensures the travel industry has access to an easily scalable infrastructure, which can be used to meet their requirements. The good news is that it prevents the need for enormous infrastructure investment and the additional cost. Thanks to the mobility offered by the cloud, you can now access websites, shared applications, and booking tools from any location worldwide and at any time of the day- as long as you are connected to the internet.

Therefore, travel companies must be innovative and agile to remain competitive with the ever-changing demands of the customers. As technology has disrupted traditional business models and upended established players, the importance of digital transformation has become increasingly clear. Migrating to the cloud is an essential aspect of digital transformation. It not only allows a decrease in cost and a boost in efficiency but also provides opportunities to offer innovative services to customers. Today, we will share how technology is transforming the travel industry and the benefits it offers.

How does it help with Security and privacy?

Travel companies can leverage managed services offered by cloud providers to enhance their systems’ overall security and operational resilience. Transitioning to managed services also reduces undifferentiated hardware and operating system update management.

How does it help with increased profitability?

Cloud solutions help reduce manual back-end tasks like data entry and accounting. Technology helps optimize operations, increasing the capacity of the agents and operators by a significant percentage. As a result, travel companies can easily meet the demands of their global clients and improve their profitability. It has been noted that some travel companies have reported more than a 200% increase in their revenues by implementing cloud-based technology within two years.

Transformational results

By migrating some of the digital assets to the cloud, businesses can achieve transformational results. With this, they can easily scale and innovate faster, modernize the infrastructure and get better insights from the data to restructure their existing organizational models. It overall helps in delivering better customer experiences.

Cost optimization

Switching to cloud-based services is making travel companies more cost-efficient. Overall it helps unlock a lot of savings which can be utilized in other essential core areas.

Modernization

Modernizing the technology can be daunting, especially when dealing with outdated systems. Through modernization, travel companies can address the risk of the old legacy systems and achieve benefits associated with cloud architectures.

Innovation

Customization, artificial intelligence and excellent customer experience- all these initiatives require modern technology and strong data management capabilities. With recent developments, travel companies are able to innovate and adapt to the ongoing changes in the business environment.

Customization

With cloud solutions, travel companies are able to offer more personalized services through their online platform. Without having to sell their overall services actively, they can easily upsell and improve revenue by providing additional options to their customers. It helps them customize their clients’ requirements automatically, saving the company’s time and enabling them to feel included in the process.

Less maintenance

Cloud technology has helped companies eliminate the need for onsite technical infrastructure and the cost of maintaining it. The providers automatically update the software and provide ongoing technical support. It also includes data backup, security and ensuring data preservation even during a blackout or in the event of uncertainties.

Data-driven strategies

An automated travel system stores all essential information in the centralized database. The data can easily be accessed with the click of a button, and the data-driven insights enable travel companies to implement more profitable strategies easily and confidently.

Remote Access

Now more than ever, the travel business is not important, but it is the need of the hour for travel companies. The Cloud-based solutions empower companies and their staff to access their services, products, platforms and customers from anywhere worldwide.

If you are looking for leading accounting software for the travel industry, look no further than FACTS. It is a robust cloud accounting software for OTAs, DMCs, and IATA agents of all sizes. We provide the solution with a unique pricing model and it focuses on addressing the incapabilities of traditional systems. The cloud adoption frameworks from the technology providers drive alignment between technical and business stakeholders. It helps the organization plan the migration efforts in the most optimal manner. Also, travel and hospitality businesses can also meet with our experts to address the gap. Working with our professionals can help leverage both the technology and domain experience and can further help streamline your transition to the cloud. We have a dedicated pool of professionals who can be onboarded faster due to their domain experience.

Why FACTS?

• Complete and seamless integration of the cloud accounting software for OTAs, DMCs, and IATA Agents to suit their business needs.
• Affordable cost and flexible pricing models.
• No obligations-flexible working agreements.
• Excellent reporting functionally in an easy-to-understand format.
• Price protection- Grab the best deals.

As more and more companies compete in the global market, they are compelled to service their clientele with the right level of digital transformation.

Cloud-based technology has penetrated nearly every industry, and the travel industry is no exception. The travel industry is evolving faster, and it is essential for travel companies to step forward for better returns and outcomes.