June 15, 2024

TripStax reports rise in corporate focus on security and wellness

TripStax says it is seeing a marked increase in corporate clients’ focusing on traveller security and wellbeing.

In 2023, the company recorded a 54% rise, year on year, in the number of requests from third parties such as security services and travel wellness specialists for bookings data from the TripStax Core.

As a result, 88% of all bookings made via its TripStax Core received requests from this type of third-party provider.

TripStax CEO Jack Ramsey, says the company’s impressive growth since it launched to market in 2022 – it currently works with more than 400 clients globally including large multinational TMCs, smaller SMEs and individual corporate customers – is evidence that a focus on data management as the driver for much-needed technology evolution is reaping big rewards.

“This is primarily due to the unique capabilities of The TripStax Core, an agnostic data processing powerhouse that ensures the clean flow of data to each TripStax module and third-party systems,” he said.

“The increase in demand for automated carbon, risk and wellbeing data is just one sign that the evolution we set out to kick start is underway and TMCs want to migrate towards using a centralised data warehouse as a single point of truth for managing and enriching their customers’ travel data.”

Ramsey said success can also be attributed to the fact that the TripStax module means that TMCs can potentially improve their profit margins by making savings on third-party tech vendor fees.

“It is highly flexible and scalable. Clients can start with The TripStax Core connected to one or two TripStax modules, and add further modules in their own timeframe, without disrupting their business-as-usual workflows.”

He added that the number of bookings per annum being ingested into the TripStax Core from these clients has grown from three million in 2022 to a current annualised total of 14.2 million, an increase of 373%.
These bookings are from 8.1 million individual travellers per annum, up 144% on 2022. 

Most other technology vendors charge TMCs transactional fees based on data consumption and storage, however TripStax only charges a TMC once for the ingestion of booking data, regardless of how many times that data is retrieved and returned to the Core via any of the ten TripStax modules (Approve, Analytics, Content, Docs, Hotels, Mobile, Portal Profile, Track and QC).  

Ramsey added: “We will continue to drive innovation to enhance TripStax’s tech proposition proactively with insight into TMCs’ and corporates’ needs, whilst driving change in the industry to address pain points caused by historically complex tech integrations for managing travel data.”