There is still a month left before we enter 2023, but the warnings of incoming economic downturns are already coming in thick and fast. According to KPMG’s latest CEO survey, 86% of top executives believe there will be an economic recession in the next 12 months. This is indicated by the tightening of monetary policy in 54 countries, rising interest rates and inflation for these past few months – not to mention the Russia Ukraine war and COVID-19 pandemic still ongoing.

As the Travel & Aviation industry is returning back to its pre-pandemic levels, revenue and profit maximisation opportunities in the industry are on the rise. The International Air Transport Association (IATA) projects industry-wide revenue this year could result in a 54.5% increase from last year and fulfil 93.3% of the 2019 level, the last full year before Covid. Meanwhile, costs will be 44% lower year over year. According to a recent report from McKinsey & Co, the aviation industry has a massive opportunity in the years ahead with a projected value of $440.6 billion by 2030.

Making the right decision in terms of pricing is crucial for any airline, especially when these decisions lead to maximisation of incoming revenue. To determine air fares and pricing, airlines need to be constantly updated with the nuances of current market demand, competitor strategy, passenger behaviour and all other related factors.
On top of these various factors to look out for, distribution and management of these fares also has various limitations due to complex workflows, dynamic airline-specific conditions, fares rules and other external factors.

Digital transformation continues to be a vital undertaking for airlines during this recovery period. According to the International Air Transport Association (IATA), total industry losses between 2020 and 2022 are expected to reach $201 billion. As a result, technology developments are continuously leveraged not only to optimise operations, but also to drive revenue and long-term growth.

When you are thinking about outsourcing your business, you might have heard the term onshore and offshore while doing your research. You may wonder, what’s the difference between the two and how will this affect your company?

Over the last two decades, outsourcing has revolutionised the way enterprises approach a range of functions from document scanning, and human resources to IT services. Today, Business Process Outsourcing (BPO) is utilised not only as a simple cost-cutting mechanism but also as a strategic initiative to improve quality of business processes whilst optimising the bottom line of a company.

Travels can sometimes be– unpredictable. Flight schedules may change unexpectedly with irregular operations with the airlines or unforeseen personal events. These events may lead to tickets being left unused.

Now you might be wondering how outsourcing helps your business or is my company big enough to outsource certain functions or business processes? To simply put, outsourcing is the process of using trusted third-party service providers to manage specific business functions. At one time, outsourcing services were limited to large, multinational corporations. Today, businesses of all sizes can realise the benefits of outsourcing. In many cases, the best way to grow your business and manage your business operations more efficiently is to delegate specific tasks to an outside vendor.

Payment processes between airlines and travel agents haven’t changed much since the introduction of the BSP and ARC payment settlement plans. Whilst the current system allows

In the global economy, business service outsourcing (BSO) is a multibillion-dollar industry, with India and the Philippines as major players servicing the global market needs. Being the largest of the island world wide business