Keeping up with the latest travel software development trends can make the difference between a successful business and one that struggles to keep up.
According to a recent report by Technavio, the online travel agency IT market share is projected to increase by $1.73 billion by 2026, growing at a CAGR of 15.2% from 2021 to 2026.
With such a rapid pace of growth, it's clear that travel agencies that adopt the latest software tools will be at an advantage over their competitors.
To help you make that transformation, we'll take a closer look at online travel agency software in 2023, and explore the different types of software available, the key features they offer, and how to choose the best software solution for your travel agency.
So buckle up, and let's dive into the world of travel software!
Overview of software for travel agencies
The online travel industry has changed significantly between 2020–2023 following the pandemic, with a growing demand for online and contactless services.
The pandemic played a vital role in accelerating the shift toward digital solutions, and travel agencies readily adapted to the new normal. With travel restrictions in place, many people have turned to online travel agencies and software to plan their trips and make online bookings.
A travel agency management software is a suite of tools designed to assist travel agencies in managing their operations and providing customer services. These software solutions range from simple booking and reservation management to comprehensive customer relationship management (CRM) platforms that integrate with other business functions like accounting and reporting.
With that said, the current state of online travel agencies and software is characterized by intense competition and a push toward more personalized customer experiences.
So, how is it all becoming possible, and what can you do to stay ahead of your competitors amidst all progress?
By consolidating the right software features!
Features of software for travel agency
Following the increase in demand and growth in the digital travel industry, the drive to stand out among the competition is becoming intense.
Online travel agencies offer more sophisticated tools and features to attract and retain customers, including customized recommendations, real-time pricing, and itinerary management. To keep your travel business in the lead, here are some must-have features for your travel agency software:
1. Real-time booking portal
A real-time booking portal is the #1 priority feature for every type of travel software, as it allows customers to make reservations and bookings directly through the agency's website or mobile app. The portal provides customers with up-to-date availability and pricing information, allowing them to quickly and easily book flights, hotels, car rentals, and other travel-related services.
A real-time booking portal also provides travel agents with real-time information on available inventory, helping them to manage bookings more efficiently and reduce errors.
2. Diverse languages & currency options
Travel agency platform needs to offer diverse language and currency options to cater to a global customer base. This feature is essential for travel agencies that operate in multiple countries or serve customers who speak different languages.
Travel agencies can improve the user experience and increase customer satisfaction by providing customers with language and currency options. Additionally, a diverse language and currency offering can help travel agencies expand into new markets and attract a more diverse customer base.
3. Guest review management
Guest review management is an important feature for travel agencies, allowing them to monitor and respond to customer feedback.
This feature enables travel agencies to collect customer reviews and ratings on their services and use this feedback to improve their offerings. By monitoring and responding to guest reviews, travel agencies can improve their reputation, increase customer loyalty, and attract new customers.
4. Online payment processing
Online payment processing is a critical feature of every software for travel agency, as it allows customers to securely and conveniently pay for their bookings and reservations online. It eliminates the need for customers to provide credit card information over the phone or in person, which can reduce errors and increase security.
This feature also enables travel agencies to process payments more quickly and efficiently, reducing administrative costs and improving cash flow.
5. Automated emails and updates
Automated emails and updates are another must-have features, as they help keep customers informed and engaged throughout the booking process and also play a pivotal role in marketing.
Travel agencies can use automated emails to send customers booking confirmations, itinerary updates, and other important information.
This feature helps to reduce customer support calls and emails, as customers can easily access the information they need online. Automated emails also help to improve the customer experience and increase customer satisfaction.
6. Channel management system
A channel management system is a feature that enables travel agencies to manage their inventory and bookings across multiple channels, including their website, mobile application, and third-party tourism apps.
In today's era, travel agencies need to increase their reach and exposure, as they can list their offerings on multiple platforms and websites. Hence, a channel management system can help travel agencies manage their inventory more efficiently, reducing overbooking and improving the customer experience.
7. Third-party integrations
The travel and hospitality industry functions like one big, connected web. Third-party travel API integrations are essential for online travel agencies, as they allow websites and apps to connect with other software systems and services.
For example, a travel agency may need to integrate its software with hotel reservation tools or an airline booking system. This feature enables travel agencies to streamline operations, reduce errors, and improve efficiency by bringing all options in one place.
8. Cloud-based platform
A cloud-based platform is the epitome of modern travel software. It provides travel agencies with secure, reliable, and scalable hosting for their software and data.
A cloud-based platform allows travel agencies to access their software and data from anywhere, anytime, on any device, making managing their operations and providing customer services easier. Additionally, a cloud-based platform can help travel agencies reduce IT costs and improve travel agency management, security, and data backup capabilities.
Types of travel agency software
With all the basic features explained, it's also important to understand that different types of travel software operate differently. Your travel business might need them as a standalone platform, a single solution with combined features, or different software that works at different times/places.
Whichever it may be, here are the 4 most commonly required types of software for travel agent:
1. Booking & reservation system software
Booking and reservation systems are designed to help travel agencies manage and automate their booking and reservation processes. This software typically includes features such as:
real-time availability and pricing information
online booking and reservation portals
reporting and analytics,
and third-party integrations.
By providing these features, booking and reservation software helps travel agencies manage their check-in, registrations, and customer inquiries more efficiently with a higher turnover.
2. CRM software
As the name suggests, travel CRM (Customer Relationship Management) software is designed to help travel agencies manage their relationships with customers. This software typically includes features such as:
and reporting and analytics.
By providing these features, all-in-one CRM travel software helps travel agencies improve their customer service, increase customer loyalty, and identify growth opportunities.
3. Reporting & analytics software
Reporting and analytics travel software are designed to help travel agencies track and analyze their performance. This software typically includes features such as:
and predictive analytics.
By providing these features, Reporting and analytics software helps travel agencies make data-driven decisions, improve efficiency, and increase revenue.
4. Travel accounting software
Most travel agency softwaresupport in-built accounting features. However, dedicated travel accounting software is designed to help travel agencies manage their financial operations more thoroughly. This software typically includes features such as:
accounts payable and receivable
and financial reporting.
By providing these features, accounting software helps travel agencies manage their finances more efficiently with advanced features that cover all transactions made via customers, partners, and inside the agency.
5. A one-for-all solution
Each type of travel software has its own unique features and benefits. By combining these software types, travel agencies can supercharge their operations, improve efficiency, and provide better customer service.
For example, travel agency software, CRM, reporting and analytics, and accounting software can all be integrated to provide a seamless booking and customer service experience.
When a customer makes a booking through the system, their information is automatically added to the CRM, allowing business travel agents to provide personalized and efficient service. Reporting & analytics can track bookings and reservations, monitor customer satisfaction, and identify growth opportunities. While accounting features can be used to manage financial operations and reduce unnecessary labor costs and human errors.
In addition to these software types, specialized software solutions are designed for specific travel industry niches.
For example, software solutions are designed for tour operators, destination hotel and property management systems, and travel wholesalers. These specialized software solutions typically include features tailored to each niche's specific needs.
Best software for travel agency
Choosing the best one is often very difficult with all sorts of tourism industry niches and even more software types.
The best travel software for your business will ultimately depend on the specific needs and goals of the business. Yet, there are some popular options out there, like:
Trams Back Office
While all these platforms have their pros and cons, you can never be sure how well they can fit your travel business niche and needs unless you try them all. That itself sounds taxing.
But a better, easier, and more tailored solution will always be waiting for you!
Custom travel software development
If your travel business needs an extremely focused solution equipped with the most advanced features that perfectly fit your day-to-day operations, you must opt for custom travel software.
Here are some reasons why custom software is the best option for travel businesses:
Customized to meet business needs – One of the biggest advantages of custom travel agency software is that it can be customized to meet the specific needs of a business. Travel agencies can work with software developers to design software that fits their unique business requirements, workflows, and processes.
Enhanced customer experience – Travel agencies can incorporate features like personalized travel itineraries, real-time updates, and 24/7 customer support to improve the overall customer experience. This can increase customer loyalty, repeat business, and positive reviews.
Scalability and flexibility – As a travel business grows, its software can be expanded and adapted to meet changing needs. This allows travel businesses to avoid the costs of purchasing new software or upgrading existing software.
Competitive advantage – By offering unique features and functionalities, travel agencies can differentiate themselves from competitors and attract new customers. This can lead to increased revenue and market share.
Better data security – when you work with a leading custom software developing company, your platforms are designed to protect sensitive customer and business data with strong data security measures. This can include features like encryption, multi-factor authentication, and regular software updates to address vulnerabilities and protect against cyber threats.
How to choose the best travel agency software
Choosing the right travel agency software whether from the wide variety of options available in the market or a custom development company, can be daunting.
However, selecting the best possible outcome is crucial to the success of your travel business. To help you make an informed decision, here are some factors to consider when choosing the best travel software vendor:
1. Business requirements and budget
The first step in choosing the best software is determining your business requirements and budget. Identify the specific features and functionalities that your travel business requires and prioritize them based on their importance.
Consider the size of your business and the number of users accessing the software. Also, determine the budget you can allocate for the software and the ongoing maintenance costs. Your budget and business operations must align with the premade or custom software to keep your business running the long race!
2. UI/ UX compatibility
The software's user interface and user experience are crucial factors to consider. The software should be user-friendly and easy to navigate. It should have a clean and intuitive design allowing users to quickly and easily access the needed features. The software should also be responsive and accessible from different devices, including desktops, laptops, tablets, and mobile devices.
You can analyze the UX of a pre-made solution through a trial or go through your vendor's portfolio if you're opting for customized software.
3. Customer support and training
Choosing a software vendor that provides excellent customer support and training is essential. Regardless of your options, make sure that the vendor provides multiple customer support channels, including email, phone, and live chat.
Also, ensure that the vendor offers comprehensive training resources to your staff, including online tutorials, user manuals, and webinars.
4. Security and data privacy
The software should have robust security features, including encryption, firewalls, and access controls, to protect sensitive customer and business data. It should also comply with relevant data privacy laws and regulations, such as the General Data Protection Regulation (GDPR). Always work with a trusted company to ensure your data is safe and remains so!
5. Reputation and reviews
Do your research and read reviews of the software before making a decision. Look for software vendors with a positive reputation in the industry and check their customer reviews on third-party review sites. Also, ask for references from the vendor and contact their customers to get first-hand feedback on the software.
Try the COAX way to redefine your travel agency system!
In conclusion, choosing the right travel software can significantly impact your business success, and it should be tailored to your specific needs, provide essential features, and be user-friendly.
COAX Software is the vetted team of experts that can help you redefine your travel agency platforms. We understand the importance of delivering a personalized approach to meet your unique business needs. Our proven track record of success, technical expertise, and transparent communication make us the ideal choice for your travel business software needs.
Whether you need a booking and reservation system, a CRM, reporting and analytics software, accounting software, or a full-scale one-stop solution, we have the skills and experience to deliver quality at competitive prices.
Let's take your business to the next level!
Contact us today to learn more about how we can help you redefine your online travel agency and grow your business with our custom software
What is travel agency software?
Travel agency software is a specialized tool designed to streamline and enhance the operations of travel agencies and tour operators. Software for travel agency serves as a central hub for managing various aspects of the travel booking and planning process, making it easier for agencies to provide exceptional service to their clients.
What software do travel agents use?
Travel agents use a variety of software depending on their specific needs. However, some of the most commonly used software in the travel industry include booking and reservation system software, CRM software, reporting and analytics software, travel accounting software, and channel management system software.
Which software is best for travel agency in USA?
There is no one-size-fits-all answer to this question, as the best software for travel services will depend on the business's specific needs. However, some of the leading travel software today took the custom-built approach to stay ahead of the competition. It's essential to decide on price, features, user-friendliness, and scale. To make the right choice find out also about the best travel and booking APIs: types and providers.
Why is project management software for travel agents needed?
Project management software is essential for travel agents as it helps them simultaneously manage multiple daily tasks and projects. This software can aid in scheduling, prioritizing, and tracking projects, as well as improving communication and collaboration within the team. With project management software, travel agents can also monitor progress and ensure that tasks are completed on time, leading to increased efficiency and better customer service.
How much do travel agency software programs cost?
The cost of travel agency software programs can vary significantly depending on various factors such as the features, functionality, scalability, and the specific needs of the agency. Without specifying a particular budget range, it's challenging to provide an exact figure.
Typically, travel agency software can range from a few hundred dollars for basic solutions to several thousand dollars for more comprehensive, feature-rich options. Factors that influence the cost include whether you opt for a cloud-based subscription model or a one-time purchase, the size of your agency, and any customizations or integrations you may require.
Ultimately, the cost of travel agency software should be evaluated in conjunction with the potential benefits it can bring to your business, such as streamlined operations, improved customer service, and increased sales. It's essential to research different software providers, request quotes, and consider your agency's unique requirements to determine the most suitable option within your budget.