Travel solution providers drive SMEs with adoption of cloud

A rise in global travel and adoption of cloud solutions will drive growth in the SME (small and medium enterprise) travel technology market, points out a research paper published by Frost & Sullivan’s Digital Transformation team. The global travel market is flourishing. Growth is driven by several factors, including airport expansion in tier-I and II cities, high demand in emerging economies, government infrastructure development, a rise in disposable income, and adoption of cloud technology by enterprises for travel solutions and analytics.

Developments and trends driving growth in the global travel technology market have come on the back of focus on customer experience and pricing transparency by travel solution providers; building price and convenience orientated integrated solutions concentration on SME markets; providing packed solutions to ensure high cohesion with expense and invoice management solutions; and travel solution market’s evolution into a technologically equipped and sophisticated sector. A major challenge has been the lack of awareness about solutions and how to they can be leveraged. Successful travel solutions providers will be those that offer multiple try-before-youbuy, customisable, all-in-one solutions that integrate with internal finance teams, while providing a uniform experience across all platforms. “Global SMEs are looking toward travel solutions that provide new sources of revenue and act as a business enabler by streamlining their budget and aiding new growth opportunities,” said Gowtham Bandi, Senior Consulting Analyst, Digital Transformation (ICT) Practice, Frost & Sullivan. “Cloud travel solutions enable a platform for the enterprise to grow while trying new solutions at minimum cost.”