Improving the working capital and cash flow is critical for Online Travel Agencies (OTA). This can be achieved by preventing and detecting fraud, reducing costs, managing risks, and improving control measures for audits, reports and regulatory compliance.
Its decentralized and unstructured processes across Europe led to low productivity and high cost of operations. Low levels of process automation and limited focus on continuous improvement severely hampered the transformation of its Finance and Accounting (F&A) operations.
WNS leveraged TravControl, the finance and risk management pillar of WNS TRAVOGUE (WNS’ suite of services and solutions for the travel and hospitality industry). We consolidated operations across the client’s UK, Ireland and central Europe locations to our delivery center in India – co-creating a centralized model encompassing procure-to-pay, order-to-cash and record-to-report services. We ensured efficient seasonality through a customized resource forecasting tool, based on the bookings in client system.
By implementing process standardization, we eliminated waste and optimized our operations. For instance, we increased the rate of auto-match in our Accounts Payable (AP) system for hotel payments through agile projects. We also standardized our accounts receivable statements to ensure more effective collections and a reduction in customer queries. Additionally, we implemented effective issue resolution procedures for SAP and successfully cleared out open items.
WNS also initiated digitization initiatives such as robotic process automation and BOT for a seamless interface of AP invoices with the mainframe and macro-based automation for accurate monthly tax calculation, payroll reconciliation and supplier payments.
WNS is a leading Business Process Management partner to more than 400+ global businesses, including 100+ Travel & Hospitality companies. Our clients in the travel and hospitality industry trust WNS TRAVOGUE for designing and executing their data and digital led business transformation journeys.
Built on more than two decades of experience working with clients from Airlines, Hospitality, OTA and TMC segments, the WNS TRAVOGUE suite of offerings brings together the best of industry expertise, data-to-insights prowess and digital innovation.
Across the value chain, we enable our clients to deliver delightful customer experiences with TravXP, drive operational excellence with TravOps, accelerate revenue growth with TravRev, devise accounting and risk management strategies for financial control with TravControl, achieve inclusive and sustainable growth with TravGreen and outperform the competition with growth-led strategies powered by TravConsult.
To know more about WNS TRAVOGUE, read here.
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Online Travel Agencies (OTA)
09 March 2023