Types of travel management software solutions
With the rise of business travel, there’s a need to simplify the travel management process. This was when the need for an all-in-one travel management solution for organizing business travel arose. Digital travel management software platforms help to manage travel budgeting, policy, and reporting, so travel agencies, corporations, and travelers can be sure that everything is always running as it should.
The market size of travel management software is projected to reach up to 20.1 billion USD by 2032, according to Market Research Future. Hence, tour agencies, corporations, and travel businesses must assess their organizations’ travel needs, define what features will be helpful, and research the best providers before choosing the best software.
Travel and tour management software can be as simple as a small CRM development or as complex as product management (such as flights, hotels, and car rentals), trip building, customer data management, payments tracking, travel expense management, travel policy compliance, and much more, all in one place.
Benefits of Using Travel Management Software
Implementing a digital travel management solution offers a wide range of benefits for travel and hospitality industry companies and employees. Here are some of the key benefits we gathered at Milies:
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Significantly Reduced Costs
The conventional approach to travel management requires a significant amount of human labor to collect trip data, reserve hotels and flights, evaluate travel KPIs, and oversee several travel schedules. Online travel software automates most of these processes, which allows company owners and the finance department to reduce costs incurred on the workforce.
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Simplified Booking and Trip Management
Digital trip management software allows travelers to make their own bookings and manage their trips. When travelers use this software to plan their vacations, they get a bunch of options to choose from. This means they can customize their itineraries to fit their own personal style.
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Instant Access at Any Time
In online travel software, all the data is stored in a cloud server. From any location and at any time, travel agents can access travel documents, upload them, modify their itineraries, and even submit expenses using any device. On the other hand, travel managers can instantly approve expenses or itineraries and track employees from anywhere.
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Adherence to Guidelines and Compliance
Online travel management software helps with policy compliance whenever tour agents want to book a trip. They can see if the hotels or flights comply with the travel policy or not. Even if they handle an out-of-policy booking, the request is forwarded right away to the approver, who has the authority to accept or reject it.
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Flexibility and Time Savings
By opting for online booking tools, travel managers can get all flight and accommodation options on a single platform. They can modify itineraries, manage business travel expenses, and re-book or cancel trips. In addition, travel analytics and reporting tools can be easily tracked, and reports can be created to analyze and optimize travel expenses.
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Transparency and Reporting
A digital travel management tool enables companies to record and manage all travel data centrally. This gives travelers and management access to all the necessary information. In addition, travel costs and expenses can be easily tracked, and reports can be created to analyze and optimize travel expenses.
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Notably Reduced Errors
Human work usually leads to significant data-entry mistakes, while the financial success of your travel business can be greatly impacted by even a minor error. Online trip management software reduces errors, automates activities, and even includes an Optical Character Recognition (OCR) feature that can scan paper invoices and receipts for you to save time and effort when entering data.
Top 12 Types of Travel Management Software
There is no one-type software solution that can fit all travel businesses. Below we’re specifying the most popular types of travel management software solutions, so you can easily decide which software fits your needs most.
Hotel Booking Systems
Hotels, resorts, accommodation providers, and tour agencies rely heavily on their hotel booking systems. They assist with bookings and cancellations, determining the availability of rooms, and even evaluating the preferences of visitors. So, if you're in the hospitality business, you definitely need one.
The key features of booking management systems are:
- Room availability and inventory management
- Reservation handling
- Cancellations and modifications
- Payment and billing integration
Tracking bookings, checking room status, and managing customer information can be easily handled through a central booking management dashboard. You may integrate online payments with the financial systems of your property using a variety of channels. This way, you can track payments, send out invoices, and keep your financial records in order.
Plus, advanced online booking systems can collect information about guests, like their past stays, preferences, and special requests. This helps you offer personalized experiences to returning customers.
Flight Reservation Systems
Think of Flight Reservation Systems (FRS) as the wizards behind the curtain when it comes to booking flights. FRS is used by airlines, travel agents, and online travel agents (OTAs) to handle reservations, check flight availability, and issue tickets. Most of them are connected to Global Distribution Systems (GDS), which are like giant databases that collect data from loads of airlines and make it easy for people to book flights.
Key features of flight reservation systems:
- Flight inventory and availability management
- Booking and reservation management
- Pricing and fare rules
- Ticketing
- Global distribution system (GDS) integration
These systems can generate electronic tickets (e-tickets), supporting various payment methods and integrating with secure payment gateways.
Advanced FRS platforms offer check-in functionality, allowing passengers to check in online, select seats, and print boarding passes or download mobile passes.
Car Rental Solutions
Car rental software solutions are used by car rental agencies, travel agencies, and corporate travel managers to manage the whole car rental process, from start to finish.
Key features of car rental solutions:
- Fleet management
- Reservation, booking, and availability management
- Pricing and rate management
- Customer relationship management (CRM)
- Damage and incident tracking
- Insurance and legal compliance
Car rental solutions can be integrated with GPS and telematics systems to track the car's location, fuel consumption, and performance. Car rental solutions also support dynamic pricing based on factors like seasonality, vehicle demand, and rental duration. They manage security deposits, late return fees, fuel charges, and other additional costs.
Many platforms include car rental mobile app solutions, allowing customers to book cars, manage reservations, and even unlock cars without needing a physical key.
Itinerary and Trip Planning Tools
Travel itinerary management tools (or Corporate travel management systems) are digital travel assistants. They help travelers keep all their trip details, like flights, hotels, car rentals, and activities, organized in one place. It's like having a personal trip planner!
Key features of itinerary and trip planning tools:
- Centralized itinerary management
- Real-time updates and offline access
- Collaborative planning and group trip management
- Activity and destination recommendations
- Expense tracking
- Integration with travel apps and services
Itinerary and trip planning tools automatically create a comprehensive trip plan, sending reminders and notifications. They also offer group trip management features, including shared calendars and synchronized plans.
Customer Relationship Management (CRM) for Travel Agencies
CRM for Travel Agencies is like a digital toolbox that agencies use to manage their clientele. It serves as an ideal place to keep track of all the crucial information on clients, such as their travel history and preferences, making it easier to manage relationships and provide better service.
Key features of CRMs for travel agencies:
- Client profile management
- Booking and inquiry tracking
- Automated marketing campaigns
- Customizable dashboards and reports
- Task and workflow automation
Travel agency CRM solutions are a digital filing cabinet for all your customer information. They help you keep track of contact details, travel history, and preferences. With this tool, travel agents can manage and track client inquiries, bookings, and follow-ups, so you never miss a beat.
Travel Risk Management and Compliance
Travel risk management solutions are designed to safeguard the well-being of travelers while ensuring organizations adhere to relevant legal and corporate travel policies.
Key features of travel risk management and compliance tools:
- Real-time travel alerts
- Risk assessment and itinerary monitoring
- Traveler tracking and location reporting
- Policy enforcement and compliance monitoring
Travel risk management and compliance tools keep an eye on global events, like political instability or natural disasters, and let travelers know if there's trouble brewing.
Some advanced tools even offer 24/7 emergency assistance, including medical help, evacuation, and local support if things go south.
AI-Powered Travel Solutions
AI-powered travel solutions enhance the intelligence and customization of travel management by utilizing machine learning and artificial intelligence. This means everything from making travel plans to receiving personalized advice is becoming easier and more efficient.
Key features of AI-powered travel solutions:
- Personalized travel recommendations
- Dynamic pricing and predictive analytics
- Automated customer support
- Smart itinerary management
- Fraud detection and risk management
AI uses predictive analytics to help businesses and travelers make smarter choices based on data. This leads to a better travel experience with greater efficiency and lower costs.
Visa Management Software
Visa management software streamlines the whole visa application process by assisting agencies and passengers in monitoring applications, supporting documentation, and approvals.
Key features of visa management software:
- Application tracking
- Document submission and management
- Compliance alerts
- Multi-country visa processing
- Integration with travel itineraries
Visa management software solutions are essential for both individual travelers and agencies handling multiple clients, reducing manual effort and minimizing the risk of errors. It also serves as a reminder, sending notifications about important deadlines, document renewals, and regulatory changes.
Cargo Management Solutions
Cargo management solutions keep cargo moving smoothly in the travel and transportation industries. They help streamline logistics, track shipments, and manage the whole process efficiently.
Key features of cargo management solutions:
- Real-time cargo tracking
- Automated documentation
- Route and load optimization
- Inventory and warehouse management
These solutions are a lifesaver for airlines, shipping companies, and other logistics providers that deal with complicated cargo operations. They help streamline everything, from ensuring timely and cost-effective deliveries to sending out real-time alerts for delays, damage, or other problems. This means they can quickly respond to any issues that arise.
Travel Accounting Software
Smart travel accounting software eliminates the need for doing all the heavy lifting by automating processes like invoicing, payments, expense tracking, and reconciliation. This results in fewer errors, more time for other activities, and a clear picture of your travel expenses.
Key features of travel accounting software:
- Automated invoicing and payments
- Expense tracking and categorization
- Integration with travel and expense systems
By automating invoicing and payment processes, smart travel accounting software simplifies financial workflows for both travel agencies and companies managing employee travel.
Global Distribution Systems (GDS)
Global distribution systems (GDS) are massive travel databases that collect information about flights, hotels, and car rentals from all over the world, making it easy for travel agencies to find and book these services for their clients. Think of them as middlemen between the travel providers and the agents.
Key features of global distribution systems (GDS):
- Centralized travel inventory
- Booking and reservation management
- Real-time pricing and availability
- Integration with travel agencies
- Multi-channel distribution
GDS solutions are essential for agencies handling high volumes of bookings and needing quick access to a broad range of travel services.
Mobile Travel Management Apps
Mobile travel management apps are like personal travel assistants right in the pocket. They help to keep track of bookings and itineraries, and even get updates on the fly.
Key features of mobile travel management apps:
- Booking and itinerary management
- Real-time notifications
- Expense and receipt tracking
- Integrated maps and directions
With additional features like offline access to itineraries, expense tracking, and integrated maps, these mobile travel management apps enhance convenience and ensure a smooth travel experience.
Future Trends in Travel Management Software
Travel management software appears to have a promising future. It's like a whole new universe of opportunities with all the new technology coming out. It will revolutionize everything from AI-driven automation to highly customized reservation experiences. Businesses that stay on top of these developments will succeed. The future of travel management is going to be crazy, so fasten your seatbelt!
We at Milies have gathered our own predictions of the future trends in tourism management software, which you can find below:
- AI and Automation: In the future, AI will provide tailor-made and personalized travel options for clients based on historical data. Additionally, chatbots driven by AI will be used for booking and customer service.
- Blockchain in Ticketing: Blockchain travel solutions will enhance secure and transparent ticketing, reduce fraud, and improve the refund process.
- Personalization: The future travel platforms will likely see more personalized recommendations based on travelers' past behavior, loyalty, and preferences, improving customer satisfaction and brand loyalty.
- Blockchain for Rental Agreements: Blockchain technology will be integrated to create secure and transparent rental agreements, reducing the potential for disputes.
- Virtual reality (VR) technologies: Travel agents will include VR videos showcasing products and services in the itinerary via travel management software. It’ll go even further with a combination of virtual and augmented reality. Before making a reservation, customers will have the opportunity to take business class flights or immersive hotel tours.
Travel Software Solutions FAQ
Q: How long does it take to develop a custom travel software solution?
A: A bespoke travel software solution's development timeframe is dependent upon the project's complexity, team size, and resource availability. At Milies, we collaborate closely with our clients to comprehend their requirements and offer an approximate timeframe, all the while keeping them informed as the project progresses.
Q: How secure are the solutions provided by travel technology companies?
A: Travel technology companies prioritize data security and employ industry-standard security measures to protect customer data, payment information, and other sensitive data. At Milies, we employ encryption protocols, firewalls, secure APIs, and compliance with data protection regulations.
Q: What type of support do you provide after the project is completed?
A: We offer ongoing support and maintenance services to ensure the continued success of your project. Our support team is available to address any issues or concerns you may have and help as needed.
Q: Do you work with startups?
A: Yes, we work with startups and companies of various sizes, from start-ups to large corporations. We provide specialized solutions to meet each client's particular requirements and objectives.
Q: Do you have real case studies in travel software development?
A: Yes, we have detailed case studies and reviews from our travel and hospitality industry clients. The details can be found at:
- API integration and AI-assistant development for trip planner software (Client: Travelshift)
- Tour agency software and travel platform development(Client: Oppa Travel)
- Hiking app development(Client: HIKEArmenia)
Senior Business Development Manager, Milies
24.10.2024
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Business, Technologies
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