Negotiation, not notation: automating contracts and revenue management in travel.

Picture yourself working in a world where the right information automatically populates your CRM system without any manual effort. It’s a reality that’s only getting more sophisticated. How? With generative AI that cuts out the time taken to streamline different information systems, consolidating them all in one central location for easy collaboration and reporting.

In the travel industry, this couldn’t be more impactful. Just think about the complexity of the data involved - from airline seat classes, to room types, discounts, cancellation policies, and so much more - all across different supplier formats. Eliminating the need for human time and effort to consolidate all that different data into one accurate order represents an unprecedented gain in efficiency. 

This is the power of a single, centralised system seamlessly and constantly integrated with internal systems. Not only does it ensure that processes and workflows are followed optimally; it pinpoints areas of risk for you to consider with generative reports. The message is clear: automated revenue management saves travel businesses’ precious time and resources. So how does this facilitate more than just ease, driving a new generation of travel excellence?

It’s true that savvy travel companies benefit from redirecting the efforts automation spares them towards the deals that make or break their strategies. But AI’s role doesn’t end there. This isn't just about scanning text to compile unified sources; it's about LLMs acting as powerful analysts and negotiation assistants. 

Of course, it all comes down to specialisation. Just like a medical service benefits from an LLM versed in medical language, a revenue management team benefits from one trained on the intricacies of contract legality and pricing structures. How will this bespoke tech change the way the revenue and contract teams work and collaborate on projects? This raises several critical questions, with the people in these roles asking themselves:

• Will it help us to negotiate better contracts by instantly flagging non-standard clauses and pricing deviations?
• Can engaging with next-gen AI truly transform the speed and accuracy of our revenue forecasts?
• Will it help us to discover new patterns in supplier behaviour that we previously missed?

These are just a few of the compelling possibilities. Agentic AI systems, working as specialised contracting and pricing "agents", can handle millions of data points to assist managers in planning and executing better contracts - but achieving this depends on continuously updated strategies and technology.

Implemented successfully, however, end-to-end improvements to business operations can be enabled by using solutions like autopilot (self-serve) to reduce workload for agents, copilot (AI assistants that empower super agents), and generative insights that keep your operations team informed and up-to-date for ongoing optimization.

The future of travel might be reflected in a spreadsheet, but that isn’t where it’s forged. That’s why industry leaders are embracing the opportunities offered by the synergy of specialized automation and expert intuition. By letting agentic tools handle the heavy lifting of data consolidation and contract legwork, revenue and contract teams get to stop acting as processors and take their place as strategy architects. From generating auto reports to serving as trusted analysts, our AI copilots facilitate true brilliance - so long as they’re used to empower the right professionals.