This week, WiT chatted with Maxim Sevastianov, CEO of Traveknowledgy – a “post-booking process automation and fare optimisation” startup. It’s a bit of mouthful, but read on to find out how this travel technology company is out to boost the profitability of TMCs and OTAs.

Describe the business, core products and services in one paragraph 

Traveknowledgy is a travel technology company that automates the complex post-booking processes for TMCs and OTAs.

Our modules enable travel businesses to create and manage workflows seamlessly, automating processes including all aspects of ticketing and tracking, quality control, airline inventory, reservation monitoring, payment and client communication. Whatever the process, we have the solution that automates it.

Traveknowledgy works with OTAs and TMCs across the world to transform post-booking processes into profit. Our GDS-agnostic automation solution enables you to create and manage practically any post-booking process in the GDS environment. Our revenue-boosting modules can also increase margins on existing reservations meaning that automated processes and operational costs are kept under control.

Traveknowledgy wants to eliminate the need for manual involvement in the post-booking processes through our intuitive web interface, which supports all major GDSs. Users simply draw their workflow, apply the settings and activate the process. This means that TMCs and OTAs are in complete control of their workflows and can free up valuable staff to focus on their core business of selling to travelers and improving profits.

Who are your key customers? 

Our key customers are TMCs and OTAs.

Who are your key partners?

We provide a GDS-agnostic process automation solution and have partnered with Sabre, Amadeus and Travelport.

What business are you most likely to be compared to?

We have very few direct competitors around the world. We have developed an intuitive and scalable system that takes away the pain points of the post-booking processes. Our focus is about automation and improving the profitability of TMCs and OTAs.

What problem are you trying to solve for your customers?

We provide one single access point, making it simple for TMCs and OTAs to automate their processes. Our modules provide them with complete control which means that they are able to manage their workflows without the need for external help and support. We solve complex manual process problems, reduce errors and minimize operational costs.

What problem are you trying to solve for your partners?

Our strategic partners develop integral projects and solutions for their customers at a much bigger level. We are a great fit for them because of our scalable technology which can be used by travel businesses of any size.   

What financial support did you have to launch the business?

We have grown organically with no external financial support.

Who validated the idea first – investors or customers?

As a former travel agent, I am very aware of the processes they go through. The post-booking process is labour intensive, complex and costly to the business. We created Traveknowledgy with a group of highly skilled developers to provide the solution.

What is the revenue model and strategy for profitability?

Users pay for the automation modules. The fare optimization module, which enables significant savings by monitoring fare changes and automatically reserves tickets at lower rates, give us options to share revenues with TMCs and OTAs.

What is the market opportunity? How scalable is this business? 

With fierce competition on a global scale, travel companies are rethinking the way they manage their operations. Automation is key to their success as travellers expect a more personal experience with their chosen provider. This means that they need to free up their staff, improve areas of the business and increase profitability. There is a lot of potential behind our technology. We have spent many years in the development phase creating a scalable intuitive system that can be used by businesses around the world. Our challenge now is to maintain a sustained growth over time. And to maintain that and achieve more global visibility.

Competitive analysis – strengths, weaknesses, opportunities and threats 

Strengths:

• Web based multi GDS System
• Skilled developers
• Scalable intuitive system
• Very few direct competitors with such an advanced technology.
• A simple system that solves complex problems.
• Increase profitability for TMCs and OTAs

Weaknesses

• Our service is often dependent on GDSs and their web services

Opportunities

• There are no geographical limits for our automated systems… They can be used by any travel business.
• Our scalable solution provides exciting opportunites on a global scale.

Threats

• GDSs develop automation systems too, however ours is scalable and we work with multiple products.
• The industry is continuously changing and adapting which means that we always need to improve our systems and anticipate market demands.

Who are the team members and advisors?

I am the CEO and I work with a team of talented developers.

Why do you think you are the best people to make this vision happen?

I have been involved in the travel business for many years. As a former travel agent with a strong technical background, I have the right skills combined with an in-depth knowledge of industry processes. That’s how Traveknowledgy began… through an understanding of the issues and a desire to provide a solution that works. I am passionate about automation and enjoy seeing Traveknowledgy working for agents and OTAs to improve their profitability. I am driven by developing systems that the corporate GDSs cannot do.