More start-up tech companies will enter the business travel sector in 2023 with innovative solutions for automating pockets of the business travel industry predicts TripStax (www.tripstax.com). However, TMCs should not rush to adopt new tech merely to solve human resourcing challenges, TripStax warns, as hasty decisions could lead to another level of chaos in terms of integration from multiple vendors.
The disruptive tech provider which launched its ground-breaking integrated stack of business travel applications, driven by data processing powerhouse ‘The Core’ in March this year, also believes the gap between offline and online points of sale will continue to narrow. This will lead to a snowball effect whereby travel agencies and TMCs start to manage their businesses and use of tech very differently by the end of the year.
TripStax also believes that 2023 will be the year when:
- the business travel industry sees major progress with NDC with the emergence of a normalised commercial model.
- pocket innovators and tech start-ups will continue to struggle with the amount of connections they need to build with other established providers to make their proposition meaningful to TMCs and corporates.
- some tech start-ups that launched in the last couple of years will be acquired because they have underestimated the cost and complexity of developing their product into a commercially viable solution
Jack Ramsey, CEO, TripStax commented: “There will inevitably be continued investment from lightly-funded tech start-ups in 2023 who are trying to do something different and unique around business travel data, whether that’s to enhance the business traveller experience, help TMCs grow revenue, or meet demand for sustainable travel solutions. As an industry, we need to be mindful that bringing automation to specific areas of business travel won’t necessarily be the panacea for solving the ongoing staff shortages among TMCs and suppliers. In fact, the urge to fill the talent gap with tech, without truly understanding how best to apply that tech, could lead to a whole new level of complex integration requirements, which could be even more burdensome for TMCs on multiple levels.
“It’s vital that TMCs harness new tech in the right way for the longevity of their business, without being overly reactive and desperately trying to fix the staff issue by using tech to put a sticking plaster on the problem. The last thing our industry needs is to create an even more complex tech landscape, or a situation whereby in a year or two, TMCs are unpacking the tech they adopted because it hasn’t made any difference to their customer service levels,” said Ramsey.
For further media information: Vanessa Aves, TripStax PR Consultant, email: [email protected], tel: +44 (0) 7721 413358
TripStax (www.tripstax.com) is a fully connected modular stack of proprietary business travel applications, powered by The Core, a profound central data processing architecture that consumes, enriches and manages all business traveller booking, profile and invoice data across the entire TripStax eco-system. TripStax is built on a ground-breaking, cost reducing commercial model for its customers. The TripStax vision is to redefine the technology landscape and economics for small to mid-size travel management companies (TMCs) globally by giving them access to premium, proven and affordable technology solutions. TripStax is owned by TripStax Technologies Ltd, which was founded in 2021; however, the technology underpinning The Core and ecosystem of modules has a 25-year pedigree of development, innovation and investment.
TripStax applications in more detail:
- Profiles – a master or intermediary traveller and company profiling solution with integrations to a plethora of third-party profile and HR systems. This application is used not only to fulfil travel requirements but also as the user’s gateway across the stack.
- Portal – a TMC and corporate client portal offering a single access point to travel information, TripStax tech and also 3rd party tech or content providers relevant to the customer and user.
- Analytics – a comprehensive suite of analytics tools, enabling users to interact with travel data from the most aggregated to the most detailed level. AI technology and natural language interaction capabilities support behavioural and financial analytics in real time.
- Approve – a global approval system enabling businesses to automate granular approval processes, irrelevant of booking channels.
- Docs – a document production system automating the creation and delivery of various travel related documents such as travel options, itineraries, e-ticket receipts etc.
- Track – an end-to-end duty of care solution developed to ensure travellers can be located and communicated with at all times during a trip. Also included within Track are industry leading information providers enabling businesses and travellers to understand localised travel requirements and risk levels when making travel decisions.
- Mobile – a traveller companion designed to support travellers during their trip.
- Content – a set of APIs enabling the consumption of GDS and non-GDS airline content, including NDC and LCC direct connections and aggregators.
- Agent POS – Solutions built to complement the core GDS systems, including quality control processing, auto-ticketing, access to non GDS content, integration of profiles etc.