Digital-Transformation-In-Hotel-Tourism
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Digital transformation trends are now abundantly visible in different industries like healthcare, banking, media, and entertainment.
However, the industry which seems to have been disrupted the most, or better say has been literally turned on its head, is the hospitality and tourism industry.
With the advent of technological superhighway and the juggernaut of opportunities releasing the brakes on it, it’s imperative for businesses to hop on the disruptive bandwagon to stay relevant and neck-to-neck competitive.
But technology’s expanding footprint over the travel industry isn’t merely confined to planning a leisure trip with a few taps of the finger on your smartphone or tablet. Digitalization goes a long way in making travel more affordable, accessible and convenient than it has ever been. For example, online travel portals allow you to compare and book hotels and airline tickets at prices that match your budget, so as to avoid burning a hole in one’s pocket.
With the advent of newer and more innovative technologies, the complete landscape of the travel industry is undergoing a sea of change. The latest to join the bandwagon of pre-existing technologies is the self-service checkout, which allows a more customer-centric experience by passing on complete control of planning the trip to the traveller himself.
Investing in Technology
In the digital age, we have become a generation of DIY travellers who plan, book and manage our travel aided by online travel marketplaces. The days of brick and mortar travel agencies are long gone.
While digital transformation has driven most run-of-the-mill travel agents and tour operators to the brink of extinction, those who have managed to survive the tide have had to adapt by going digital.
In order to serve its customers in a more seamless way, Thomas Cook has recently stepped up its digital innovation by introducing virtual reality experiences across select stores. Digital transformation, in fact, has overwhelmed the entire travel ecosystem, triggering a formidable rise in competition, as travel brands need to measure up to customers rising expectations.
It’s imperative to move from Think Digital to Being Digital.
Making Digital Transformation Work for Everyone
The word Digital has different meanings for different organizations. They choose, plan, and execute initiatives while keeping with their individual interpretations of BEING DIGITAL. The objectives are plain simple; to improve revenues and increase productivity.
That said, this isn’t entirely what we mean by Digital.
Digital Transformation isn’t just about creating new revenue streams and maximizing ROIs while limiting the manual labor a business puts in. It also entails meteoric shifts with respect to organizational culture and its core values for a tactical operational and efficiency boost.
To match with the speed of digital evolution, businesses are required to continuously invest, stay agile and relentlessly focus. They must adopt agile strategies and translate them into rewarding successes to deliver excellence across value chains.
Invest. Innovate. Upskill – A Three-Pronged Approach to Being Digital
To recapitulate, businesses must:
#1 Invest in digital assets
#2 Connect the assets together for seamless multi-channel experience
#3 Drive consistent innovations through the apparatus
This three-dimensioned focus can significantly increase the amount of innovation, reduce the cost of operations, and improve the productivity to a greater extent. The businesses should also not lose sight of the larger benefit of adoption of digital skillsets by the manpower.
Until recently, most of the organizations were investing significant shares of their investments in building digital assets and neglecting them thereon at their own peril.
Note that proper utilization of digital assets by interlinking them with other systems is an important organization driver that promotes operational excellence, optimizes the flow of communication, and eliminates efficiency gaps. Further, it multiplies productivity by encouraging the use of these digital assets across various internal and external stakeholders.
The ease, speed, and consistency of communication help businesses in gaining deeper insights into behaviors and trends. Working in collaboration to leverage the success borders develops a better sense of direction to take the business forward to new heights.
Right strategy is great, but never enough. It’s the right execution that matters.