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Travel Agency Commission Settlement
PhoCusWright, Oct 2008, Pages: 14
Commission settlement for travel agencies can be a complicated affair—but this article breaks it down to its vital parts, highlights key vendors, and discusses recent innovations that streamline the process.
Much has been written about the process of shopping for, purchasing and consuming travel-related products and services, but very little has been done to document the financial systems that enable the world’s largest business: travel and tourism. For the travel market to be efficient and effective, processes and systems must be in place to collect, distribute and reconcile transfer of funds and commission payment. These systems are well established and mature for the air segment, fragmented but maturing for hotels, and somewhat less developed for cruises and tours. Commission settlement systems are still in their infancy for newer forms of content, such as activities. This paper explores the components that make up the financial settlement structure for travel agent commissions, and highlights key vendors and their roles and capabilities in the settlement process. Future opportunities are also discussed.
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