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Travel Inventory Consolidation - The Backbone of Business Success
Unleash the power of Travel Inventory Consolidation. Centrally manage and distribute your contracted inventory with real-time availability and prices for hotels, flights, cars, activities, etc.
What is Travel Inventory Consolidation? How Does It Work & Why Does It Matter?
An Inventory System is a complete travel software solution or management framework that allows travel companies to efficiently manage and track their inventory of travel products and services.
Travel agencies can utilize Travel Inventory Management Solutions to provide consumers with precise and up-to-date information about product availability, price, and special offers. Real-time data allows customers to make more informed decisions while reducing the need for manual verifications and extensive communication with suppliers.
Travel Inventory Management Solutions provide a transparent base for tracking, managing, and selling an array of travel products and services. These systems are vital for maintaining an up-to-date record of available offerings, from hotel rooms and airline seats to car rentals and tour packages.
It functions as a centralized system that provides real-time visibility into available inventory, simplifies bookings and reservations, and streamlines the whole inventory management process. The Inventory System plays an integral part in ensuring efficient operations, maximizing revenue, and delivering excellent customer service within the travel industry.
By choosing the right inventory system and implementing it efficiently agencies can position themselves for success. Remember that an appropriate inventory system is more than just an operational tool; it is a strategic asset that can drive your agency to success.
Inventory management procedures involve developing a static and dynamic content database, maintaining content like design and descriptions, and packaging travel products dynamically.
The inventory management module inside a travel agency software system must be integrated with other solutions like as pricing modules, booking engines, and accounting tools to exchange data and increase operational efficiency.
Effective inventory systems enable travel agencies to:
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Increase revenue by enhancing price and availability
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Reduce the risk of overbooking and underselling
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Provide customers with real-time information
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Streamline operations and reduce manual errors
The power of the Travel Inventory System
An Inventory System is a software solution or management platform that allows travel businesses and organizations to effectively manage their range of travel products and services. It provides real-time visibility into available inventory, streamlines the booking and reservation procedures, and optimizes inventory management efficiency.
The Flight Inventory Management System is vital in driving operational efficiency, revenue maximization, and delivering exceptional customer service within the travel industry.
Trawex introducing a top-tier Travel Agency Inventory System that lets you resolve travel-related challenges and offers travelers additional benefits.
With this innovative tool, you can easily avoid over-selling, facilitate specific accommodation and transport options for your clients, offer helpful extra add-ons, and enhance your up-selling game.
Simply put, Trawex's new Travel Agency Inventory Systems feature allows your travel business to have it all.
Trawex's inventory consolidation can assist businesses in streamlining their travel management operations, reducing complexity, and getting more visibility into their trip expenses. This can result in cost savings, increased compliance, and better travel experiences.
Trawex offers travel inventory consolidation services by aggregating and consolidating travel-related content from multiple sources and displaying it on a single platform. This could involve flight bookings, hotel reservations, car rentals, transfers, cruises, activities, tours, and more.
Travel inventory consolidation services emerged to integrate content from various sources, including GDSs, NDCs (New Distribution Capability), LCCs, hotels, cars, transfers, cruises, activities, tours, and other related content API providers.
By combining this content into one platform, it is easier for customers to access a wide range of services and compare prices and options.
Trawex’s Travel Agency Inventory Systems offers a powerful inventory database and management solution to travel agencies and tour operators. This sophisticated tool is the backbone of online travel technology, covering a diverse collection of travel products, including flights, cruises, activities, and more. It provides real-time data management, search, and booking capabilities, and is essential in connecting travel agencies with their consumers.
It empowers travel agencies with effective control over their inventory of travel products and services. It provides real-time information about product availability, automates inventory updates, and prevents the risk of overbooking or double bookings.
This simplified operation reduces manual workload and enhances overall inventory management efficiency.
By effectively managing inventory and optimizing accessibility, Trawex assists travel agencies in maximizing their revenue potential. It allows agencies to distribute their product across a range of channels, expanding their market reach and offering new prospects for greater sales. Furthermore, dynamic pricing capabilities allow agencies to adjust rates based on demand, hence enhancing revenue potential.
Benefits of Single API Inventory Consolidation
APIs in the travel sector combine the inventories of numerous suppliers (such as airlines, hotels, and car rental companies) onto a single platform, allowing agencies to provide their consumers with a broad selection of travel options.
By leveraging a single API with a large inventory, OTAs can avoid developing and integrating multiple APIs for each provider with whom they want to interact.
Instead, businesses can utilize a single API to combine products from numerous vendors, offering their clients with an array of options.
This approach not only reduces development costs but also accelerates time to market, since OTAs can immediately offer broader options to their consumers without having to go through the time-consuming process of connecting several travel APIs.
Furthermore, a single API with a large inventory can assist OTAs optimize their consumers' user experiences. By offering a comprehensive range of travel options on a single platform, clients can easily compare prices and options across different suppliers, making it easier for them to find the best deals.
What Travel Inventory Automation Brings to Your Table
We ensure that our business travel management solutions are customized to the teams both on the service providers’ and clients’ sides and fit into their ecosystems effectively:
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Centralized Inventory Database
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Real-time Product Updates
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Product Accessible Reporting
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Easy Control of Inventory Availability
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Hassle-free Inventory Search and Booking
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Product Multi-currency Support
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Unlimited Configurations of Special Offers
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Product Self-management for Suppliers
Who uses the inventory system within the Travel Industry?
The Inventory System is commonly used by travel agencies, tour operators, and other sales channels in the travel industry. It acts as a central hub for managing and distributing travel products to customers.
How Does the Inventory System Help with Content Management and Distribution?
The Inventory System offers content management features that enable travel companies to update product information, images, and pricing in real-time. It also makes it easier to distribute this information across several web platforms to reach a wider audience.
The Automated inventory management seamlessly incorporates static content (such as fixed pricing and product descriptions) and dynamic content (real-time availability and pricing updates). It guarantees that travel agencies can provide current and accurate details to consumers while also managing long-term product details.
What role does the Inventory System Play in the Search and Booking Processes?
The automated inventory management enables the search and booking features, allowing consumers to easily find and book travel products. It provides real-time availability and pricing information, resulting in a seamless and quick booking process.
How Do Travel Agents Benefit From Using The Inventory System?
Travel agents benefit from the Inventory System by getting access to a comprehensive inventory of travel products, efficient management tools, and the ability to provide customers with real-time booking options. This leads to greater customer service and more sales possibilities.
What Inventory type does the Inventory System manage?
The Inventory System controls various inventory types, including airline seats, hotel rooms, tour packages, cruise cabins, and more. It meets the diverse needs of the travel industry by managing a wide array of products.
How Does the Inventory System Integrate with Booking Engines?
The Tour Operator Inventory Management System works efficiently with booking engines, allowing users to search for and book travel products directly through a travel agency’s website or platform. It guarantees that real-time pricing and availability are shown during the booking process.
What is the importance of real-time inventory management in the travel industry?
Real-time Tour Operator Inventory Management Systems are essential in the travel business as they allow agencies to provide accurate information to consumers, reduce the risk of overbooking, and adapt quickly to changing market conditions. It increases both client satisfaction and business efficiency.
Here are a few ways travel inventory consolidation can help:
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Simplify Contract Management: When a business works with numerous suppliers, it can be necessary to negotiate and manage various contracts, each with its own set of terms and conditions. By consolidating inventory, companies can work with one tool and negotiate one contract that covers numerous suppliers, streamlined contract management.
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Reduce payment complexity: Companies can work with suppliers in multiple countries and currencies without facing challenges related to currency exchange rates, transaction fees, and payment processing times. By combining inventory, companies can organize their payment processing to suppliers, minimizing payment complexity.
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Enhance data management: Dealing with different suppliers involves managing data from several sources and formats. By consolidating inventory, businesses get access to a single source of standard and consistent travel data, making it easier to evaluate and report on travel spending and trends.
How to choose an Inventory Solution for your Travel Business
There are three main sources of inventory you can sell online:
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Own/Directly Contracted Inventory
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Third-party XML API Integration
What is directly contracted inventory?
In this approach, the agent can choose a travel agency system with a Central Reservation System (CRS) that enables them to load inventory for different businesses such as hotels, activities, and cars, into the CRS along with net rates and availability. They can then add their own markups and/or commissions to the net rates, allowing them control over the price displayed on the website when someone searches using the booking engine.
They can additionally set business regulations, policies, promotions, and differential pricing based on season, customer class, etc. as well as stop sell and blackout dates(for hotels).
If they utilize a Hotel Extranet, they can enable hotels to log into the CRS and update their inventory, saving the travel agency time and effort.
What are the advantages of direct contracts?
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It is cost-effective and easy to set up, providing you with greater control over the rates and commissions compared to third-party inventory.
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It’s also easier to manage and update directly contracted inventory due to the limited size. You can quickly add or edit information like images and descriptions to increase your look-to-book ratio, which would be extremely difficult with third-party inventory. This flexibility and ease also make it easier for you to target clients in your local region.
What are White Labels?
In the case of white label API integration, your portal includes the supplier's booking engine, which you can rebrand to appear like your own. Several online travel companies utilize white labels to allow a successful brand to offer a service without having to invest in the technology and infrastructure themselves. However, when a consumer uses a white label booking engine, they redirect to the supplier's website, where they pay directly to the supplier, and it then pays you a commission.
Who's it for?
This solution is suited for small/medium-sized travel agents with limited budgets who wish to sell a diverse selection of third-party inventory at an affordable price.
Advantages of White label Solutions
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You can become a full-service online travel agency and sell global inventory economically.
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It is easy to integrate
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You don’t need a technical team to deal with technical issues
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No server maintenance is required.
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Quick time to market.
What are APIs?
APIs let you incorporate third-party GDS/Wholesaler inventory into your booking engine on your website. So when a customer makes a booking using your booking engine, they won’t be redirected to another site to do so. To incorporate the API of a third-party supplier, such as Amadeus, Sabre, Hotelbeds, or GTA, you need to sign an API contract with them and pay a security deposit. The deposit can vary from supplier to supplier and could rely on the number of bookings you make.
Who is it for?
This is great for large/mid-sized travel companies with a significant budget and a desire to reach a large audience.
Advantages of having an API-integrated portal
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You can include markups and margins for your customers.
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You will receive payments directly from customers.
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Provides highly dynamic information returned from the XML pages
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Less content maintenance allows you to focus on your core activities, such as marketing and boosting conversion rates of targeted traffic
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Whether you want a booking engine to sell your inventory or wish to sell third-party inventory using a white label or via XML API, Trawex can do it all very easily for you.
Here are the key elements of travel inventory systems:
Inventory Database: This is the heart of the system, storing all inventory details. It includes details on the price, availability, and attributes of each inventory product.
Pricing and Yield Management: Based on demand, competition, and other factors, you can use dynamic pricing to optimize inventory allocation.
Key Components of the Inventory System:
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Product Database: Travel agencies utilize an Inventory System to maintain a product database that contains extensive details on the agency's travel products and services. This could include flights, hotels, car rentals, tour packages, activities, and other travel-related offerings. The database offers essential details such as pricing, accessibility, restrictions, and exclusive deals.
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Availability Management: Availability management is an important aspect of the Inventory System. It enables travel agents to update and track the availability of numerous travel products in real-time. This guarantees that clients obtain accurate information about the accessibility of flights, hotel rooms, and other services, allowing for seamless booking and lowering the risk of overbooking.
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Booking and Reservation Management: The Inventory System allows travel businesses to manage bookings and reservations more efficiently. It enables agents to check accessibility, make bookings, amend reservations, and send confirmations in real-time. This component also contains features for managing cancellations, refunds, and rescheduling, delivering a seamless client experience throughout the booking process.
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Connectivity to suppliers: Connecting with hotels, airlines, and other suppliers allows real-time inventory updates and instant confirmation of bookings with suppliers.
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Reporting and Analysis: This feature provides details about inventory performance, sales patterns, and forecasting.
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Pricing and Contract Management: The Inventory System includes capabilities for managing pricing and contracts with suppliers. It enables agencies to negotiate contracts, manage negotiated rates, and set price policies based on seasonality, promotions, and dynamic pricing strategies. This component enables accurate pricing and streamlines revenue management.
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Integration with Distribution Channels: The Inventory System works with a range of distribution channels, including online travel agencies (OTAs), global distribution systems (GDS), and direct booking platforms. This interface enables agencies to distribute their offering across various platforms, resulting in more exposure and sales potential.
Types of Inventory Systems Used by Travel Agencies
Travel agencies rely on a range of inventory systems to efficiently manage and distribute their inventory. These are the top systems they use:
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Global Distribution Systems (GDS) aggregate inventories from several sources. Major players like Amadeus, Sabre, and Travelport offer wide inventory access and real-time data, though they can be expensive and may not include all suppliers.
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Central Reservation Systems (CRS) are utilized by individual suppliers to manage their inventory. These systems enable consistent pricing and accessibility across distribution channels frequently integrated with GDS and channel managers.
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Channel Managers play a crucial role in providing inventory across multiple sales channels simultaneously. They provide travel agencies with larger inventory access and real-time updates.
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Property Management Systems (PMS) are mainly used in hotel operations, such as room inventory and guest management. They frequently collaborate with GDS and channel managers to ensure real-time availability.
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Online travel booking engines enable clients to book directly and usually interface with GDS, CRS, or directly with suppliers.
Benefits of Effective Inventory Systems for Travel Businesses
Implementing an excellent Mobile Inventory Management System can greatly enhance a travel agency's operations and bottom line. Here are the main benefits:
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Improved Efficiency in Operations: Automated inventory management reduces manual work, minimizes errors, and automates booking processes, so staff can focus on customer service and important tasks rather than doing administrative work.
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Better Customer Service: Real-time inventory updates and precise details lead to increased customer satisfaction and loyalty.
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Maximized Revenue: Dynamic pricing and inventory allocation tools assist travel agencies in optimizing their pricing strategies and ensuring they are providing the right product to the right consumer at the right price.
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Reduced risk of overbooking: Advanced planning and real-time updates reduce the risk of overbooking, which can result in costly compensations.
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Stronger Supplier Relationships: Efficient inventory management and accurate reporting can boost supplier relationships, potentially increasing rates and allotments.
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Better Data-Driven Decisions: Comprehensive reporting and analytics solutions provide insights that help companies make strategic decisions about product offerings, marketing tactics, and overall business direction.
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Efficient Inventory Management: A travel agency inventory system helps travel agencies manage their travel products and services inventories more efficiently. It gives you real-time visibility into availability, automates inventory modifications, and avoids the risk of overbooking or duplicate booking. This simplifies processes, minimizes repetitive tasks, and increases inventory management efficiency.
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Accurate and Real-Time Details: An Inventory System allows travel agencies to provide consumers with accurate and up-to-date information on product availability, price, and special offers. Real-time data enables customers to make more informed decisions while decreasing the need for manual verification or back-and-forth communication with suppliers.
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Increased Revenue Opportunities: By effectively managing inventory and optimizing availability, the Inventory System helps travel agencies maximize revenue. It enables agencies to offer their product through various distribution channels, resulting in increased market reach and sales potential. Furthermore, features like dynamic pricing allow agencies to adjust rates based on demand, hence enhancing revenue potential.
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Streamlined Operations and Cost Savings: By automating inventory management procedures, the Inventory System optimizes efficiency and reduces manual effort. This not only increases efficiency but also lowers operational costs. Agencies can better allocate resources, increase staff efficiency, and reduce inventory management errors and discrepancies.
Ready to transform your Travel Business?
Discover how Travel Inventory Consolidation is reshaping the travel industry. Explore the profound impact it has on travel agencies and businesses, from efficiency gains to increased customer experiences.
If you want to automate and streamline your inventory management procedures using our Mobile Inventory Management System, please contact us now to discuss your needs and how we can help you achieve your goals.
What We Offer
Trawex platform currently empowers 1000+ customers across 4 continents, 10000+ bookings a day, 1000000+ travel searches a day, across 200+ Suppliers, 600,000+ Hotels, 1000+ Airlines, 200,000+ Activities, 30,000+ Cruise Itineraries and much more for your brand.
Inventory Consolidation
Instant integrations with more than 100 suppliers that are integrated on demand.
Travel APIs
A complete set of travel APIs that empower our clients to develop custom travel solutions.
Custom Modules
A production-ready library of Modules that can be used as is or customized as per your requirement.
Faster Time to Market
Integrate suppliers in matter of few days. Over 100 suppliers maintained.
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Travel Portal
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Travel APIs
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White Label
Travel Websites -
B2C / B2B
Booking Engines -
Itinerary Planner
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BackOffice Solutions
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How We Engage
We Help Your Own Developers
- Third Party API Integrations
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- Comprehensive travel inventory management system
Customized Hosted Solution
- Third Party API Integrations
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- Offer your Customers Unparalleled Content
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Off The Shelf
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Grow Your Business with a Powerful Online Engagement Platform and Experienced Travel Partner
You won't be going on the engagement journey alone. We're there as a partner to help, support and advise to ensure your ultimate success.
- Online travel booking engine
- Multiple sales channels - B2B, B2B2B, B2B2C
- Centralised mid-office
- Ability to connect multiple GDS, LCC, and third party APIs
- Complete Reservation Management
- Travel Agent Management
- Transactional Accounting
- Accounting System Integration
- Comprehensive system to manage rates, discounts and allocation
- Payment Gateway Integration
- Multiple Supplier APIs
- Add direct contracts
- Redistribution API
- Configure credit limit and deposits
- Multilingual travel websites
- Add offline travel bookings
- Distribute white labels
- Dynamic fare caching
- Commissions and markup control
- Advanced Reports
- Manage multiple branches
- Sub Agents can create and manage multiple branches and users
- Optional cross selling platform
- SMS gateway
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