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North Asia travel agents see business automation as key to surviving tougher times: Abacus survey

Reducing costs by automating business process has emerged as a leading strategy for surviving tougher times among North Asia travel agents. Abacus International surveyed more than 40 leading travel agents from China, Hong Kong, Korea and Taiwan markets at the recent Abacus Regional Conference, North Asia, and found that 30 per cent of the companies surveyed saw automation as a key to survive the financial crisis. Of the 42 North Asian travel agents surveyed, 40 per cent indicated the current financial crisis would have low impact on their businesses, 38 per cent indicated a moderate impact and 21 per cent were expecting a high impact of greater than a 30 per cent reduction in revenue.

“Having gone through past crisis of varying magnitude from health scares to economic issues and coming out of them for the better, experience has taught North Asia’s travel agents that a strong business technology infrastructure can boost productivity and Return on Investment (RoI). These travel agents have realised that the value of having solid business process automation such as Abacus PowerConnect will both reduce unnecessary costs essential during these tough times while ensuring that revenue from all sources is thoroughly tapped,” said Robert Bailey, President and CEO, Abacus International.

A TravelDaily News report said that increased automation of business processes was the most popular strategy identified, with the largest proportion of the travel agencies interviewed indicating that it is the key long-term measure their companies are embracing and it is also the number one area that they would like global distribution companies such as Abacus to help them tide through the financial crisis. The second most popular strategy for surviving the global economic slowdown are forming joint marketing campaigns with suppliers, and business consolidation with overseas partners. Forming strategic partnerships was also ranked high in the short and long-term measures that these travel agencies would like to undertake.

“Travel agencies from these relatively mature markets know the real benefits of forming strategic partnerships. They have expressed keen interest in forming alliances with overseas travel agencies and suppliers to strengthen the dynamics of their inbound and outbound business and this is where Abacus’ network in 25 markets can play a central role,” said Bailey.

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