The technology wave has hit all the industries and hospitality industry is no such exception. Nevertheless, most of the players who are involved in the hospitality industry would refrain themselves from implementing sophisticated technologies such as SaaS solutions. But this is the talking of the past. The arrival of Artificial Intelligence (AI) has compelled the players associated with the given industry to rethink about their business and ponder about collaborating AI with SaaS to get fruitful results.
About Hospitality Industry
It is like a big machine where a group of people works together to satisfy the needs and requirements of the people such as accommodation, food, traveling and so on. The main objectives of the hospitality industry are to:
- Resources gaining in-depth knowledge about millions of consumers
- Maximizing to get higher revenue
This is where the concept of AI has gained prominence, and integration with SaaS platform has come with a bonus.
Software as a Service is a software distribution model where a third party provides the applications and make them available to the customers via the internet. SaaS uses various applications such as HRM, CRM, which are used by multiple businesses for enhancing their functioning.
Importance of AI and SaaS Platform
When a hotel owner gets access to consumer behavior and their purchasing pattern; there is a generation of a large amount of data whose storage is a difficult job. Here AI collects and retrieves the consumer data and produces it in a pure form with the help of its smart algorithm and computing power and thus produces a good insight about the given data. The role of the SaaS platform is to provide various granular details about the customers such as age group, gender and other in just a click making the working of hotel management look perfect in the form of creating right accommodation package for right people and at the right price.
The management could take the help of SaaS Development Services to have a collaboration of their services with AI and have a good understanding with customers to create the right product. Furthermore, application of the SaaS software development by the given industry would help them to have good knowledge about their business and thus appropriately forecast the room prices with the help of AI.
Benefits of SaaS software with AI
The AI alone could not deliver effective services for the customers of the hospitality industry until it is combined with the benefits associated with the SaaS software model.
a) Cost Reduction
The application of this software costs low for the given industry, which it could utilize to develop a sound IT infrastructure with the help of AI, which includes data backups, storage capacity, and so on.
b) Task Management
All day-to-day task of the hospitality industry is handled by the given software platform such as good work on the front desk and reservation management and housekeeping activities. The robots with AI could be connected with SaaS software, and then they would be able to conduct all the work without incurring severe losses on hospitality management.
c) Online Booking and Reservation
The given software could work at multiple places via a single interface to conduct booking and reservation online. AI supports it well as it helps in monitoring the activities of the users and guides them to book their services through an online medium in an appropriate way.
Explanation of SaaS benefits with example
A notable example is MakeMyTrip, which is an online travel company which uses a SaaS model by collaborating with the hoteliers and other travel agencies for providing affordable services to the customers. Using the given software platform, the players associated with the hospitality industry make their facilities available over the internet with the help of the online travel company. By utilizing a subscription or commission-based model for the clients, the hotels can save the sizeable massive investment cost and can update all the information related to the hotel services automatically.
Furthermore, as the applications are readily available online due to SaaS, the booking and reservation of online tickets have been made easy. Moreover, with the collaboration of AI and SaaS, the staff of any hotel group would be able to complete all the formalities for the customers via a mobile device so that the customers would be able to enjoy their vacation without facing many issues. Thus it could be said that there has been a simplification of the hotel services by SaaS as it could be utilized by the third party to not only boost up the efficiency but also increase the satisfaction among the customers effectively.
The given article concludes about the hospitality industry and how it is going through various phases by adapting to the changing scenario. One such aspect is AI, and another is a SaaS platform, which is reshaping the given industry and has resulted in significant improvement in the provision of their services to their customers. So, there is a suggestion that you should contact the best SaaS Development Company which include AI in their services and would help you to enhance your services which you efficiently provide to your customers.