Pros,and,Cons,Travel,Mid,Offic technology Pros and Cons of Travel Mid Office System

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New business models,competition in global markets and dynamic behavior of travellers has led toshift in the focus of travel agencies to change the way they do their business.The more the booking procedures have become simpler the more critical it is forthe travel agency to have sound mid office or back office system whichoptimizes the processes of their business and also improves the efficiency andeffectiveness of the resources at work. Profitability driven travel intermediariesneed to focus on revenue generating activities rather than on time consumingadministrative work which is followed after the sale. The main role oftravel mid office is to receive the booking from various sales channels such aB2B, B2C, B2B2B, B2B2C, front/back office and manage them to deliver the finaldocument to the customer. It helps in reducing the complexity of work which isinvolved in information management and coordination between various functions.  The Travel technology companies today aredesigning advanced travel mid office system for travel intermediaries wherethey can manage everything from the reservation to invoicing, payment andreconciliatory accounting activities, which is a cost efficient solution that significantlyimproves their travel business. Using it, the travel agents will spend lesstime on doing administrative task manually they can now focus on better ways ofserving customers. What makes midofficeunique and important for the travel intermediaries, can be understood with thefollowing features of the system? ·        Booking Management from Multiple Sales Channels- The bookings which comes from various saleschannels are processed centrally at one place.·        Full Automation of Front and Back Office- It combines the front and back office withthe booking interface and GDS. ·        Real-Time Booking and Pricing – The travel agents get the access to the realtime prices through this interface. ·        Customer Relationship Management Tool- The travel intermediaries can manage theircurrent and future clients through this tool. ·        Handling Complex Markups and Commission- Through midoffice the users can manage thecomplex sales commission and advance markups for multiple sales channels. ·        Connectivity to Inventories- The midoffice is directly connected to GDS orthird party suppliers from where it fetches the real time inventory ofairlines, hotels, insurance etc.·        Reporting- The midoffice system is capable of generating various types of report asper the need of the user. Travel midoffice is easiest way to work smoothly on everyday travel operations.But just like a coin Midoffice system also has two facets. Therefore in orderto understand the implications of the system we need to closely look at thepros and cons of it. Pros-1.      With theuse to a good midoffice system the employees are relieved from everyday mundaneadministrative tasks which are time consuming and they can concentrate on moresignificant business tasks. 2.      Usage ofthe midoffice system had made it possible to properly allocate resources i.e. afew employees to perform the tasks of many.3.      Automationof midoffice systems has made it possible to reduce storage space, allowedseveral employees to access the same data at the same time.4.      Requirementof staff members is minimized which directly affect business revenuepositively.5.      Thetravel agents can manage the complex rules of markups and sales commission.6.      Multiplebranches of travel companies can be managed at one place through the system.7.      Thesystem also enables the travel agencies to manage their subagents andsuppliers. Cons-1.      The majorproblem which are faced by travel agencies is the midoffice system is highlypriced thus it can be an expensive investment. 2.      In orderto make deploy the system the staff has to be trained thus time and cost areinvolved in training. Midoffice system alsocomes with maintenance cost which is again a problem for small travel agencies. Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-parent:"";mso-padding-alt:0in 5.4pt 0in 5.4pt;mso-para-margin-top:0in;mso-para-margin-right:0in;mso-para-margin-bottom:10.0pt;mso-para-margin-left:0in;line-height:115%;mso-pagination:widow-orphan;font-size:11.0pt;font-family:"Calibri","sans-serif";mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin;}