The travel and tourism industry had grown tremendously over the last decade, becoming one of the fastest-growing economic sectors in 2019. Moreover, the technological revolution made travel easy and affordable for everyone. However, it could not withstand a global pandemic that brought the travel industry to a standstill, causing massive job losses and revenue shortfalls. In 2020, the novel coronavirus took its toll on the global economy, with travel and hospitality industries amongst the most affected ones.
Now that the situation has started to improve, with several vaccination programs underway, it’s an opportune time for travel companies to get their businesses back on track. Investing in ERP development for post-COVID-19 recovery seems to be the right way to go about it. Besides, it’s the right time to ditch traditional on-premise systems and adopt a cloud-based business model.
Here, you’ll learn how travel companies can benefit from custom ERP development for post-COVID-19 recovery. Furthermore, it delineates crucial parameters to future-proof your travel business to sustain the volatile market conditions in a post-pandemic world.
The year 2020 has been full of uncertainties and hardships for people working in different fields. While the whole world bore the brunt of a pandemic, the travel industry too, incurred heavy losses that would take years to recuperate. Nevertheless, now is the time for travel companies to prepare themselves for the post-pandemic world as the competition is going to rise in the coming months. That being said, custom ERP software development will provide many benefits to travel companies to overturn the impact of COVID-19.
Many domestic travel agencies have already realized the importance of ERP development for post-COVID-19 recovery and are taking steps to implement ERP in their daily operations. Those who are skeptical about this investment should read further to explore the benefits of ERP for the travel industry.
Manually handling your finances could be a tedious and time-consuming task, not to mention the possibility of errors. An ERP system, on the other hand, streamlines complex accounting tasks and accelerates financial management processes.
At the same time, it generates weekly/monthly financial reports for travel companies to oversee their expenses and formulate future strategies. By keeping close tabs on their financial transactions, travel companies can control their expenses and spend wisely to drive profitable returns.
Providing detailed itineraries for travel bookings is imperative to enhance customer satisfaction. However, with an increasing number of travel bookings, manually creating these itineraries could be a back-breaking task. Custom ERP software development can ease this job by curating the best travel experiences and including them in an itinerary, following a standardized format. Travel agents can always review these itineraries to make some last-minute adjustments before sharing them with customers.
When it comes to sales, marketing, and lead management, ERP-based customer relationship management systems are there to address your needs. Custom CRM software development is a tried-and-tested way to augment your sales efforts, improve marketing strategies, and build long-term customer relationships. Besides, it provides advanced lead management features such as customer segmentation, lead tracking, lead nurturing, and automated email follow-ups.
Custom ERP application development accelerates billing and invoicing services by providing dozens of invoice templates for travel companies. They can choose the most suitable template and customize it as per their needs to bill their customers.
Moreover, with an intuitive interface, it is super easy to generate custom invoice templates. The invoicing module in an ERP system can automatically generate invoices based on the travel experiences selected by the customer.
One of the main advantages of ERP is that it significantly reduces the overall operational costs for any business. Travel companies can leverage ERP features to streamline their daily operations and reduce complexities by enabling automation at every step. Since the processes involve less human effort and reduced manual strain, it ultimately reduces overhead costs and drives profitable returns.
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All prominent travel-based companies are already using advanced ERP systems to efficiently manage their day-to-day operations. The reason that most travel startups and small-to-medium travel companies refrain from investing in ERP is the preconceived notion that ERP is expensive. While some ERP solutions could go over budget for SMEs, there are open-source alternatives to almost every ERP use case. Open-source ERP platforms like Odoo and ERPNext don’t require an additional license fee. Therefore, it significantly reduces the overall development costs and yields more productivity. Above all, the benefits you get post ERP implementation are totally worth the investment as it would further boost your ROI.
We are a seasoned ERP development company that provides 360-degree enterprise web development solutions for cross-industry business use cases. Our development team has years of industry experience in developing and implementing custom ERP solutions to solve complex business problems. We use open-source software platforms like Odoo, OFBiz, ERPNext, and Opentaps to develop industry-specific ERP solutions from the ground up. Our custom ERP-based mobile and web application development services enable businesses to streamline their complex processes and enhance productivity. For more information, visit erpsolutions.oodles.io or drop us an email at [email protected] for further assistance.