The web-based technologies that give travellers access to the vast quantity of information about their desired destinations, and various kinds of booking tools, are evolving quicker than ever. As the travel technology industry is becoming more traveller-centric, the expectations of today’s travellers are growing continuously too. In today’s scenario ‘One Fits All’ trend have changed completely as the young people, especially the Millennials, prefer personalised travel experience instead of joining a group. Apart from this, the mobile technologies, and digital payments allow the travel experience to be more flexible and spontaneous.
So looking at the tremendous growth opportunity of this segment followed by the huge scope of technology innovations, Whereabouts brings its readers in depth information about the latest industry trends, and new technology innovations in development pipeline by one of the leading travel technology provider – the InterGlobe Technology Quotient. To know more about the future plans of ITQ read what the duo President & CEO Anil Parashar and Chief Operating officer Sandeep Dwivedi have to say.
We have denoted 2020 as the year of innovations and our curiosity levels are peeked at the upcoming advancements and modernizations. It is indeed too early to reveal the plans and loose the essence of anticipation. Yet, to give a brief overview, we will be treading deeper in the realm of personalization and customization, both for our customers and the end-consumers, and further bringing our expertise in bettering digital experience for travellers through our community of travel agents.
Anil Parashar, President & CEO, ITQ.
How do you look at the growth opportunities in 2020 for travel industry (aviation sector) as a whole, and specific to the travel technology providers like you?
Upcoming year promises vast opportunities of evolution, growth and advancement, especially with Artificial Intelligence (AI) and machine learning on the rise. Millennial and Gen-Z travellers are exuberantly looking out for digital experiences, in turn opening avenues for airlines and travel agents to expand their portfolio of offerings and generate more revenue.
Speaking of travel technology, we are expecting deeper technology driven interface, both for agents and end consumers. Industry has previously been taking baby steps in this direction and the pace will certainly accelerate with increasing demand from travellers who enjoy planning and transacting from the comfort of their home and desire results tailor-made to their specific requirements.
Naturally, this demand has opened avenues for technologically advanced products and services, something that our industry is already in the process of innovating. Year 2020, therefore, is most likely to reveal those gems hidden until now.
Have you noticed any impact of the government policies in the growth (positive or negative) of this sector?
Yes, there have been quite a few remarkable initiatives by the Government of India this year including provisions for expansion, especially with new airports in the pipeline further justified by government’s investment of Rs.300 crore in airport infrastructure till November 2019. Notably, there had been some key investments in and sanctions for schemes such as Swadesh Darshan Scheme. All these initiatives are expected to accelerate air traffic and accommodate the spike in demand, subsequently.
How technology is redefining the travel industry? Could you elaborate on the new trends for the Indian market?
New innovations are like everyday news these days; and scenario is no different in our industry. AI and machine learning are two key technologies being fiercely deployed in aviation industry at large, and enabling veterans and new entrants to offer services and products tailor made to the traveller’s needs.
With small and big data readily available to major businesses in the industry, feeding machines with bytes and bytes of data and empowering them to make intelligent decisions is trending modus operandi. More so with consumers’ increasing affinity towards digital experiences.
Any ambitious plans for ITQ to be implemented in the year 2020?
We have denoted 2020 as the year of innovations and our curiosity levels are peeked at the upcoming advancements and modernizations. It is indeed too early to reveal the plans and loose the essence of anticipation. Yet, to give a brief overview, we will be treading deeper in the realm of personalization and customization, both for our customers and the end-consumers, and further bringing our expertise in bettering digital experience for travellers through our community of travel agents.
Always staying a step ahead of the game is the imperative solution to deal with modern changes. In fact, Travelport is already on the edge of this era of innovation with a range of its own technological explorations for the industry including Blockchain technology.
Sandeep Dwivedi, COO, ITQ
To start with, how ITQ is catering to the Indian travel agencies? Would you like to throw some light on the latest products of ITQ?
Our goal has always been to act in all manners of possibility as a partner and consultant to our travel agents. In doing so, we extend our ability to revolutionize our customers and provide solutions tailored to their requirements. The same reflects in the products we offer; emerging from a deep study of our customer’s pain points, frequent discussions with travel agents, and studying the overall need of the end-consumer- the traveller. Whether it is digitizing the experience for travellers through our travel agents using our product Adhvan or integrating financial interface with GDS through ITQ Financial or easing post-booking journey through VR3, integration to customisation, we are on top of the game; available to innovate and provide solutions with just
a call.
How has been the growth of ITQ in the year 2019? What were the achievements that you would like to share with our readers?
Being a part of an industry whose passenger traffic is growing at a double digit CAGR of 12.72% year-on-year (IBEF) from 2006-18 has its own perks. Naturally, some of it has reflected in ITQ’s growth in 2019 as well; and further enhanced by our ever expanding market share, exclusive partnerships like Air India for instance, and various recognitions and accolades from institutions such as VETA and Tamil Nadu Tourism. But truly it is the initiative, like the one where we encouraged travel agents to transcribe DPNA Special Service Request code while booking travel for the specially-abled travellers who need in-flight care and attention and make travel easier for them are what I personally consider a significant achievement.
Could you highlight the latest technology trends in the Indian travel industry?
From a broader perspective, much is quite the same as the last couple of years. Machine learning, AI and big data are still leading the race, only more voraciously and innovatively. As compared to a smaller portion earlier, a larger chunk is now moving towards personalization courtesy, millennial and Gen-Z’s growing inclination towards digital experiences and personalized options; for which a majority of these two generations don’t mind if airlines use their private information to provide personalized offers. Always staying a step ahead of the game is the imperative solution to deal with modern changes. In fact, Travelport is already on the edge of this era of innovation with a range of its own technological explorations for the industry including Blockchain technology.
How millennials are using travel technology tools? You may elaborate on the role of mobile/cell phone technology?
Comfort, ease-of-operations and minimum investment of time appear to be the driving force behind majority of millennial choices; and results are mind-blowing. With AI technology in the arena, travel veterans are able to reduce booking time by 90%. Impressive reduction in time is also witnessed through use of travel technology tools. Perhaps, that is the reason why millennials’ extensively use voice assistant and online check-in. They stand second to Gen-Z when it comes to using mobile for booking travel and deploying post-booking functionalities. No qualms, therefore, remain when reports state that millennial prefer digital experiences and are quite comfortable with airlines using their private information to provide personalized offers.
Could be counted as a reason why almost 4 in every 10 travel brands are inclined to invest in AI in 2020. Millennial preference for comfort is quite evident in a recent report by Travelport where 84% of the surveyed millennial count it a crucial factor whether airlines offer a good digital experience or not. It goes without doubt that millennial and Gen-Z’s inclinations towards technology is going to reel in multi-faceted innovations in the market in this new decade.
InterGlobe Technology Quotient
A strategic business unit of InterGlobe Enterprises – ITQ is a large Indian conglomerate holding leadership positions in Aviation, Hospitality and Travel related services. Established in 1989 and headquartered in Gurugram, InterGlobe through its various businesses employs more than 22,000 professionals globally.
ITQ is an official distributor of Travelport in 6 markets across Asia Pacific region including India, Sri Lanka. Headquartered in Gurgaon, the company provides cutting edge travel technology solutions with unmatched inventory options to its customers helping them increase their productivity and business efficiency. With an extended network nearly 400 cities having 19 dedicated offices and 14 REPs, InterGlobe Technology Quotient reaches out to over 36,000 agency terminals, with two nationalised service centres and 16 training centres having state-of-the-art infrastructure and facilities matching international standards.
