Yapster invests P15M on e-Travel

In a bid to gain a foothold on the $550-billion e-business market, Philippines-based Yapster e-Conglomerate, Inc. has launched its online travel management services catering to the corporate market. Yapster e-Travel Inc., (2TravelWorld.com) has invested a total of P15 million to jumpstart its operations.

For the first year, Yapster e-Travel expects 80 percent of its revenues to come from corporate travel accounts which is considered to be a fast growing segment. Cyber Dialogue research shows that more than 40 percent of the current retail travel market are business-related. Yapster e-Travel‘s chief executive office Annabelle Yap says travel is currently the top-selling category on the Net. In the US alone, the online market accounts for 17 percent of the total travel industry – an 800 percent increase over the 1999 figure of only two percent.

"With analysts pegging Asian growth amounting to three to five times greater than its US counterpart," she says, "online travel definitely presents a substantial business opportunity for 2TravelWorld.com."

The site automates the company’s travel policies and links these up with an efficient and effective real-time booking and reservation system, thereby allowing the company to realize cost savings, estimated to be as much as 25 percent. Travel managers utilizing these advantages are able to minimize monitoring time and can get real-time reservation information for reliable and timely travel decisions.

Yap added that the company has invested heavily in the development of value-added customer service. This plan to focus on customer‘s needs is designed to encourage customer loyalty. A recent customer survey by PhoCus Wright showed that eight out of 10 respondents have cited customer service as a main factor in booking online and will be the main factor in retaining customers.

Yapster e-Travel, Inc. (2TravelWorld.com) is the latest addition to the suite of Internet business services of Yapster e-Conglomerate, Inc.. It is the only Philippine travel company that also integrates a subscriber firm’s a travel requirements with an approval system.

Companies can now register with 2Travelworld.com, detailing all preferences and book all itineraries. In its pipeline, the site will allow services such as pooling of air miles and travel points.

For the site 2Travelworld.com’s current business development and technology partners, Yapster e-Travel has enlisted the help of Oracle Systems for software technologies and Abacus for travel systems. Both companies are top-ranking in their own industries and have been working closely with Yapster in providing their expertise throughout the entire development cycle. Active Business Solution, Inc. is the main developer of the application, and continues to work closely with Yapster e-Travel in providing more value-added services for the site.