Calculate Your Tourwriter Return on Investment
To cope with a constantly changing economic environment tour operators need to look for ways to increase revenue whilst decreasing expenses.
As a business, your revenue needs to exceed your expenses. Any new investment needs to show a positive return. Google ‘ROI’ and you’ll find a plethora of ROI calculation techniques. Most techniques involve the same general concepts and a simple formula to calculate ROI could look like this:
Simple ROI = (Gain from Investment – Cost of Investment) / (Cost of Investment)
How can purchasing Tourwriter help you increase revenue whilst saving you money at the same time? How does Tourwriter stack up regarding ROI?
Great questions, I’m glad you asked.
Here at Tourwriter we sell software but we also use a range of different software solutions ourselves and we are constantly analyzing the pros, cons and costs. Combining our experience of buying third-party software and dealing with 1,000’s of Tour Operators from around the globe these are our top tips of things to look for when evaluating Return on Investment when purchasing software and in particular Tourwriter.
Tourwriter ROI Top Tips
We recommend you:
- Benchmark Performance
- Estimate Savings
- Estimate Costs
- Use ROI Formula
- Discuss your needs with Tourwriter Sales
- Make your decision
Benchmark your performance
It is difficult, if not impossible, to track the impact of a software change on a business if you have no idea where you have come from. So benchmark your performance now. Calculate how long you currently spend completing your everyday functions, then associate costs to them. Then estimate the savings from performing those everyday functions faster. Let’s look at boosting your revenue… How many clients are you losing through slow quote turnaround? Could you close more deals with professional quote documentation? These can be difficult to qualify but research indicates consumers are after visual presentations and they want them now. Once you have estimated the gains of investing in the new software you can now work out the return on your investment.
Benefits of Tourwriter in terms of ROI
Tourwriter is both your supplier database and your documentation creator. Drag and drop suppliers, adjust pricing and at the click of a button, a quote document (based on current rates) can be emailed to a potential lead. You can even create itinerary templates based on holiday packages that can be personalised in minutes.Tourwriter clients become more productive. How much more productive depends on how time-consuming your current processes are. Since we also aim to increase reliability and offer potential business growth, calculating ROI should be easy.
And finally, some things to consider
It’s not all dollars and cents in business though. Most tourism operators have a passion and a love for the industry. Are your staff as happy as they could be? Do your sales staff spend their days doing what they love, planning great holidays and closing sales, or cutting and pasting supplier information into word documents?
It can be difficult to quantify the benefits of simplifying a business process so you or your staff no longer feel frustrated? We can all agree frustrated staff will not be achieving their potential.
We say preparing a glossy quote for a 14 day holiday should only take minutes. If it takes you longer, you (and more importantly your staff) need Tourwriter.
Contact us now to learn how.