TAKING STOCK
SIX TRAVEL TECHNOLOGISTS OFFER THEIR THOUGHTS ON INNOVATION, INVESTMENT AND PARTNERSHIPS IN THE TIME OF THE PANDEMIC
Q. IS INVESTMENT NECESSARY FOR INNOVATION, OR CAN FIRMS BE INNOVATIVE EVEN IF THEY DON’T HAVE MILLIONS TO INVEST IN TECHNOLOGY? Jon: There’s no doubt innovation needs investment but it doesn’t have to be millions. There are many initiatives that a tour operator has to consider and these can often be consolidated to ensure maximum return on investment. George: In our view the vast majority of companies in the travel space don’t have budgets at their disposal for major innovation right now. But the upside is that companies can launch beautifully designed B2C engines which target niche audiences – packages, elders, facilities, LGBTQ, youth budget travel, pet lovers and so on – at a fraction of the cost needed 10 years ago. Manuel: It depends on the innovation. Process innovation is often not very investment- heavy, but rather a case of applying existing technology in smart and/or creative ways. This leaves a lot of room for travel
brands to innovate with limited budgets. Cressida: Investment in technology will be needed to innovate, but this should be considered a good overhead. By utilising RPA (robotic process automation) technology to do low-level tasks like document scanning and data inputting, the human cost can be invested in more-complex tasks of strategic thinking and growth. Investments can be modest to start with and don’t need to cost millions and it will be cheaper than increasing headcount. Simon: Yes, investment is part of the innovative mix but as important as cash is the appetite for busines change and having adequate resource in the
business to make that change. We’ve seen some simple technology changes, such as implementing a CRM (customer relationship management) system alongside an existing reservations SODWIRUP GHOLYHU ELJ EXVLQHVV EHQHfiWV with relatively low levels of investment. Andy: I don’t believe spend-level – the buck – has to directly correlate to innovation impact – the bang – by any means. Tech development can be painfully complicated, but it can also be wonderfully freeing and empowering when a simple, well-formed idea is easily communicated with a clear implementa- tion strategy. A good developer can DFKLHYH VRPHWKLQJ VLJQLfiFDQW LQ D VKRUW amount of time, but you do need to be bold and to clear their path.
Q. WHAT ARE THE SORT OF TECHNOLOGIES THAT HAVE EMERGED IN THE PANDEMIC AS ESSENTIAL IF TRAVEL FIRMS ARE TO SURVIVE AND THRIVE IN THE FUTURE? Simon: Self- service tools are increasingly
important but not everyone wants to do it
8 — SEPTEMBER 2021 —
TRAVOLUTION.CO.UK
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