{"id":4614,"date":"2019-10-11T17:42:16","date_gmt":"2019-10-11T16:42:16","guid":{"rendered":"https:\/\/www.traveltek.com\/franklin\/?p=1741"},"modified":"2019-10-11T17:42:16","modified_gmt":"2019-10-11T16:42:16","slug":"investing-for-the-future","status":"publish","type":"post","link":"https:\/\/www.traveltek.com\/blog\/investing-for-the-future\/","title":{"rendered":"Investing for the Future"},"content":{"rendered":"

Traveltek chief executive Mal Barritt is new to the company but hardly new to travel.\u00a0 He stepped in to take over from founder Kenny Picken at Traveltek\u2019s East Kilbride headquarters in August 1 this year, but he has spent 26 years in the industry.<\/p>\n

He says \u201cI was at My Travel when it merged with Thomas Cook. I set up my own cruise-selling business which I ran for eight years, then ran luxury tour operator Destinology and the ITC Group.\u201d<\/p>\n

Barrit acknowledges: \u201cI\u2019ve never run a technology business before. It is a fresh challenge for me.\u201d However, he sees this as a positive: \u201cI can look at it from the perspective of a customer. That is a different way of looking at it. This job couples my passions for travel and technology.\u201d<\/p>\n

He believes the ability \u201cto look through the lens of a customer\u201d is one of the reasons Traveltek recruited him, saying: \u201cI had been a customer of Traveltek twice in the past. I also ran two very tech-savvy travel businesses, Destinology and ITC, where we put together a technology platform and understood how to support it. We ran Destinology as a technology business which just happened to sell luxury holidays.\u201d<\/p>\n

Traveltek attracted private equity firm YFM to invest \u00a35.3 million in 2016. Barritt says: \u201cWe\u2019re three years into the cycle with the investors and have put together a new three-year plan.<\/p>\n

\u201cThis is a year of transition. We\u2019ve pumped in a significant amount of money – \u00a3250,000 on infrastructure improvements for customers as we migrate to a cloud-based infrastructure, and \u00a3500,000 on front-end and back-end resources. We\u2019re bringing in new resources, making multiple investments in people and infrastructure.\u201d<\/p>\n

At the same time, Barritt explains: \u201cWe decided to pull back expansion to focus on the UK and Europe, North America and Australasia, and on protecting the interests of existing customers, on providing better services to them. We closed our offices in Dubai and Singapore.\u201d<\/p>\n

However, the company retains a strong presence outside of the UK. \u201cOne of the largest clients is in the Netherlands – a new customer which operates across Europe,\u201d he says.<\/p>\n

Investing in core platform <\/strong><\/h4>\n

Barritt\u2019s aim is to \u201csimplify the business model and standardise what we offer.\u201d<\/p>\n

The Traveltek business has three parts: \u201cFirst, on API (Application Programming Interface) all of our content is integrated from over 200 suppliers and enabled on an API, based on the supplier a client wants to work with.<\/p>\n

\u201cSecond, our core operating platform iSell \u2013 a sealed booking system offering search and book and customer management and evolving into a product – management system.<\/p>\n

\u201cThird, website journeys \u2013 we facilitate booking journeys for businesses.\u201d<\/p>\n

The investments the company is making also fall into three categories. Barritt says: \u201cFirst, we\u2019re reinvesting in our core platform, iSell, to provide best-in-class functionality.<\/p>\n

\u201cSecond, we\u2019re developing a standardised booking path for customers, building standardised journeys. We are trying to simplify what we do so we just hand over the booking journey to the client. Creating bespoke journeys is more difficult to support.<\/p>\n

\u201cThird, we\u2019re developing a new tours preposition for next year, which we are looking to launch at World Travel Market in November. It\u2019s for tour operators curating their own product, and, in time, we\u2019ll add cruise to it.\u201d<\/p>\n

Challenging times bring opportunity<\/strong><\/h4>\n

Barritt identifies a number of challenged facing the business, but with Brexit thankfully not one of them.<\/p>\n

The first is \u201caround how we deliver customer service.\u201d He says: \u201cWe were lacking some tools and resources. We deployed research and support teams and tolls and are introducing service desks.\u201d<\/p>\n

\u201cA second area we were under-resourced in was in front and back-end teams. We were concerned we weren\u2019t paying enough so we\u2019ve increased salaries.\u00a0 We also needed more people in certain areas so we have 15 people starting – a workforce increase of 15%.\u201d<\/p>\n

The company employs 80 people in East Kilbride and about 115 in total.<\/p>\n

Barritt insists: \u201cWe\u2019re a company that is growing and we continue to invest. Glasgow and Edinburgh are renowned for their tech innovation and we see travel technology growing in Scotland.\u201d<\/p>\n

On Brexit, Barritt says: \u201cI have no concerns.\u00a0 It\u2019s been going on for three years. We are not just reliant on the UK market, We\u2019re present in the US and Australia and when times become more challenging in the UK there are always opportunities, Businesses look to automate more processes. That is an opportunity.\u201d<\/p>\n

Data is also a \u201cbig opportunity\u201d, he says, arguing: \u201cTraveltek is one of the largest distributors of cruise product in the UK.\u00a0 We have access to significant amounts of cruise-related data and we will look to harness that, to offer insights on the industry and the cruise market.<\/p>\n

\u201cA lot of our customers are cruise specialists and about 25%-30% of UK cruise bookings go through our platform \u2013 that is high street agents, tour operators, and online travel agency bookings.\u201d<\/p>\n

He adds: \u201cWe have a real range of clients from high-touch, bespoke tailor-made tour operators to simple flight and hotel retailers. IF we have a gap, it\u2019s in the escorted touring market, which is what the new product will address.\u201d<\/p>\n

Barritt argues: \u201cMy approach to the business is to get the right people in to get the right product. We\u2019re looking to bring in different skills.<\/p>\n

\u201cThe people investment side of the business is important. It\u2019s all about the people.\u201d<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Traveltek chief executive Mal Barritt is new to the company but hardly new to travel.\u00a0 He stepped in to take over from founder Kenny Picken at Traveltek\u2019s East Kilbride headquarters in August 1 this year, but he has spent 26 years in the industry. He says \u201cI was at My Travel when it merged with […]<\/p>\n","protected":false},"author":1,"featured_media":2392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-4614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company"],"acf":[],"yoast_head":"\nInvesting for the Future - Traveltek<\/title>\n<meta name=\"description\" content=\"As the Industry leaders in Cruise and Travel Agent Technology Traveltek are always sharing news from global team members.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.traveltek.com\/blog\/investing-for-the-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investing for the Future\" \/>\n<meta property=\"og:description\" content=\"As the Industry leaders in Cruise and Travel Agent Technology Traveltek are always sharing news from global team members.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.traveltek.com\/blog\/investing-for-the-future\/\" \/>\n<meta property=\"og:site_name\" content=\"Traveltek\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Traveltek\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-11T16:42:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.traveltek.com\/wp-content\/uploads\/2019\/10\/future.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.traveltek.com\\\/blog\\\/investing-for-the-future\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.traveltek.com\\\/blog\\\/investing-for-the-future\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/www.traveltek.com\\\/#\\\/schema\\\/person\\\/53efae36b6bd23371d95dbd3d85aad1b\"},\"headline\":\"Investing for the Future\",\"datePublished\":\"2019-10-11T16:42:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.traveltek.com\\\/blog\\\/investing-for-the-future\\\/\"},\"wordCount\":911,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.traveltek.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.traveltek.com\\\/blog\\\/investing-for-the-future\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.traveltek.com\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/future.jpg\",\"articleSection\":[\"Company\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.traveltek.com\\\/blog\\\/investing-for-the-future\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.traveltek.com\\\/blog\\\/investing-for-the-future\\\/\",\"url\":\"https:\\\/\\\/www.traveltek.com\\\/blog\\\/investing-for-the-future\\\/\",\"name\":\"Investing for the Future - 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