7 minute read
Businesses, particularly small enterprises, are constantly seeking ways to streamline their operations and enhance efficiency. While Microsoft Excel has long been a trusted tool for data management and analysis, it’s important to recognise both its strengths and limitations as a comprehensive solution for Travel businesses.
The Benefits of Microsoft Excel
Microsoft Excel is renowned for its user-friendly interface, making it an excellent choice for data entry and organisation. You can easily create and manage spreadsheets for various aspects of your business, from cash flow tracking to financial statements.
Many professionals are already familiar with the Microsoft Office suite, making Excel a go-to choice for those comfortable with its features and functions. This familiarity can help reduce the learning curve and increase productivity.
Excel offers several data analysis tools that can help you gain insights from your data. You can create charts, graphs, and pivot tables to visualise and interpret information, assisting in informed decision-making.
The Limits of Microsoft Excel
While Excel is great for managing data on a small scale, it doesn’t offer the scalability and advanced features that dedicated software solutions provide. As your business grows, you may find Excel less suitable for handling larger datasets.
Excel relies heavily on manual data entry and manipulation, which can be time-consuming and prone to errors. This manual labour can hinder efficiency, especially when dealing with complex financial statements or extensive data analysis.
Microsoft Excel operates as a standalone spreadsheet software, meaning it doesn’t integrate with other business software offerings. This can result in data silos and additional work to transfer data between systems.
While Excel is proficient in basic data analysis, it may not meet the needs of businesses requiring more advanced data insights or reporting tools.
With positive signs that travel will commence in the coming months, travel businesses are starting to gear up, many with a reduced workforce and still with travel restrictions in place. The pressure is on to ensure processes and systems are running as efficiently and effectively as possible, so if you are still operating any part of your sales and booking process via an Excel spreadsheet, then this article is for you, trust me!
The Love Affair with Excel
People are comfortable using Excel spreadsheets as it is a very familiar tool, hence why it is often the go-to solution for recording information. It is straightforward and easy to use; however, it is not an efficient or scalable tool. Excel doesn’t come with an administration system, online booking system or supplier integration system. It is a stand-alone tool, open to human error and won’t evolve as your business grows. We have all heard the stories about the UK Government COVID-19 report stats that went awry because the Excel spreadsheet there were using ran out of columns!
Traveltek has an award-winning product range that will allow you to increase your businesses efficiency, scalability and profitability, and allow you to move those Excel spreadsheets to the recycling bin. Plus our product range all operates off one cloud-based platform, so no more having to navigate between systems and spreadsheets.
Here are seven reasons why you need to say bye-bye to spreadsheets:
1.Reliance on Manual Intervention
Having an all in one solution, such as Traveltek’s fully integrated iSell platform, helps you avoid the manual work involved each time you need to enter data for multiple worksheets and complex formulas. Automating travel processes eliminates manual intervention so that the prices for your services are automatically calculated. Plus the itineraries are automatically generated, and an overview of the current financial status is accessible with just one click of the mouse. The result is increased efficiency, productivity and profitability. Win-win!
2. Human Error
A further drawback of the manual data entry process is that it usually leads to mistakes. Data can get corrupted through accidental changes or deletion. A situation where you don’t have the control found in automated systems can be extremely dangerous for your travel business.
3. Lack of Tracking
Doing business in the travel world means dealing with numerous different tasks daily, all of which need to be meticulously tracked. You need a place where you can trace your reservations, passengers, travel services, commissions, margins, groups, etc. A purpose-built travel mid-office system, like iBos, is an ideal solution for managing reporting, documentation and certification.
4. Complexity of Usage
Only basic tasks are familiar in Excel. More advanced features require time and experience to be properly mastered, and skill levels can differ greatly from employee to employee. An automated travel tech system takes the guesswork out and allows you to forget about formulas!
5. Absence of Crucial Reporting
Unfortunately, in Excel, a place where you can review all transactions that have taken place or changed by your employees doesn’t exist! It is crucial in travel businesses to have an official audit trail. With Traveltek’s end-to-end system, all users can access the audit trail function. Allowing them to track any movement within a client portfolio plus generate a document to show amendments, cancellations and refunds, which is time and date stamped and can’t be edited.
Similarly, your profits, losses, margins, invoiced amount etc., shouldn’t be spread over hundreds of Excel sheets. All figures can be stored in one place within an automated system, giving your business a much clearer picture of how the numbers stand.
6. Ineffective Organisation
Ditching Excel and embracing travel technology will allow you to enter your information once and manage it all from one central place. No desktop files and no jumping between systems. With Traveltek’s complete solution, you will find your online booking system, CRM and mid-office system all in one place. It truly is a one-stop-shop!
7. No Secure Data
Data stored locally on your desktop isn’t secure. You depend on the health of your hard disk and the quality of your computer. With a cloud-based travel management system, the information won’t be lost due to viruses or computer crash-downs. It’s also possible to access this data from anywhere in the world, at any time. All you need is an internet connection.
To sum up, Excel is a good program for storing small amounts of simple data. But when it comes to efficient data management, it’s not the answer. As your business grows and you have more information to track and monitor, you require a robust system to cope with your needs.
To book a demo on Traveltek’s award-winning product range for the leisure travel industry please head on over to our contact us page.
Consider Traveltek’s Software Solutions
To overcome the limitations of Microsoft Excel, consider exploring Traveltek’s comprehensive software offering. Our solutions are tailored to the unique needs of travel technology, providing advanced features, scalability, and integration with your existing systems. With Traveltek, you can efficiently manage your business operations, analyze data, and generate financial reports, all while enjoying the benefits of a dedicated software solution.
In conclusion, Microsoft Excel is undoubtedly a valuable tool for small businesses in the initial stages of their journey. However, as your business grows and demands more robust data management and analysis capabilities, it’s essential to evaluate whether Excel can continue to meet your needs effectively. Traveltek’s software solutions are designed to offer the next level of support, empowering your business to thrive and succeed in today’s competitive landscape.
