Glossary
- Agentic AI in Travel
- Automated Travel System
- Business Travel Management
- Business Travel Operations
- Central Reservation System
- Demand-based Pricing
- DMC Software
- Dynamic Packaging
- Foreign Independent Travel (FIT)
- Global Distribution System (GDS)
- Inbound Tour Operator
- Inventory System in Travel
- Outbound Tour Operator
- Tour Management Software
- Travel Accounting Software
- Travel Agency Mid Office
- Travel CRM
- Travel Data Integration
- Travel ERP
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Agentic AI in Travel
Agentic AI in travel describes AI systems that complete a task from start to finish, acting on a traveler’s or agent’s behalf: drafting and adjusting an itinerary, following up with a supplier for confirmation, flagging a reconciliation mismatch, without waiting for a person to direct each step.
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Automated Travel System
An automated travel system (ATS) is a platform that automates the tasks and processes involved in running a travel business, from booking flights, hotels, and car rentals to the back-office work of expense management, approvals, and supplier reconciliation.
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Business Travel Management
Business Travel Management refers to the process of efficiently planning, organizing, and managing all aspects of business travel on behalf of an organization and its employees.
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Business Travel Operations
Business Travel Operations refers to the processes, activities, and logistical functions involved in managing and facilitating business travel for employees within an organization.
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Central Reservation System
A Central Reservation System (CRS) is a computerized platform that enables travel agencies to manage, control, and distribute their inventory of travel-related products and services.
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Demand-based Pricing
Demand-based pricing is a strategy that allows travel agencies to adjust prices dynamically based on demand levels to create a competitive advantage and to optimize revenue.
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DMC Software
DMC software is designed specifically for the travel industry. It is used by destination management companies which are organizations that specialize in providing local knowledge, logistical support, and other travel-related services to visitors in a particular destination.
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Dynamic Packaging
Dynamic Packaging is a term used in the travel industry to describe a method of creating and selling customized travel packages to customers.
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Foreign Independent Travel (FIT)
Foreign Independent Travel, commonly abbreviated as FIT, refers to travel arrangements built for an individual traveler or a small, private group.
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Global Distribution System (GDS)
A Global Distribution System (GDS) is a network that connects travel agencies to real-time inventory and fares from airlines, hotels, car rental companies, and other suppliers, all through one search and booking interface.
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Inbound Tour Operator
An inbound tour operator is a specialized travel company or agency that focuses on organizing and managing travel arrangements for visitors coming into a specific destination.
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Inventory System in Travel
An Inventory System in Travel refers to a comprehensive software solution or management framework that enables travel agencies and companies to effectively manage and track their inventory of travel products and services.
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Outbound Tour Operator
Outbound tour operators are types of travel companies that specialize in organizing and managing travel arrangements for individuals or groups interested in exploring international destinations.
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Tour Management Software
Tour management software is a platform that helps tour operators run day-to-day operations, including bookings, itineraries, guide and supplier coordination, and customer data, from one system.
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Travel Accounting Software
Travel accounting software is a financial management system built specifically for travel agencies, tour operators, and DMCs. It handles the same core functions as any accounting platform.
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Travel Agency Mid Office
A Mid-Office software provides a set of tools and applications designed to help travel agencies manage their business operations efficiently.
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Travel CRM
A travel CRM (Customer Relationship Management) is a software built to hold every traveler’s profile, booking history, preferences, and communication log in one record, tied directly to the bookings that record belongs to.
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Travel Data Integration
Travel data integration is the process of connecting different systems, data sources, and platforms used by a travel business, such as GDS feeds, supplier APIs, booking engines, and accounting software, so that information flows automatically between them.
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Travel ERP
A travel ERP (Enterprise Resource Planning system) is software that unifies the core functions of a travel business: bookings, supplier management, operations, finance, and reporting into one connected platform.