Dynamic start-up aims to redefine business travel tech landscape and economics
LONDON, England – March 29, 2022 – (Newswire.com)
The launch of a dynamic new business travel technology provider, TripStax, has been announced today, with ambitious plans to redefine the tech landscape for travel management companies (TMCs) by giving them unprecedented access to high-end, well-established, but also affordable, travel management solutions.
TripStax (www.TripStax.com) is a fully connected modular stack of eight proprietary travel tech tools (Analytics, Approve, Content, Docs, Mobile, Portal, Profile, Track), powered by “The Core,” a profound central data processing architecture. The Core is a key market differentiator and sets TripStax apart from any other travel tech solution. It is a crucial component that consumes, enriches and manages all traveler profile, booking and invoice data in one place. As the sole source of a TMC’s corporate client data, The Core is the powerhouse that drives and determines how this data is used across each module in the stack. It also connects airline content from multiple sources, including GDS providers, aggregators and direct connections to airlines.
The TripStax tech eco-system is built on a ground-breaking, cost-reducing, commercial model for its customers. The majority of legacy travel technology providers charge TMCs transaction fees based on the consumption and storage of data. TMCs have to pay a fee every time the data is stored and transposed by each vendor. However, TripStax uncouples technology from its reliance on transactional economics. TMCs using TripStax are only charged once for ingestion of booking, profile or finance data, regardless of how many times that data is processed within one of the modules in the stack. This single transaction charge paradigm creates valuable savings opportunities for TMCs.
Although TripStax is a start-up business, the technology underpinning the Core and eco-system of modules has an established pedigree of evolution and efficacy. It has been continuously developed and improved over the last 25 years by ATPI as the global TMC’s own travel management technology platform. The technology has benefited from extensive innovation and enhancements during that time through significant investment.
The idea to create a separate business with its own management and strategic direction and release the technology to a wider TMC audience is the brainchild of Jack Ramsey, CEO, TripStax, and the ATPI executive team. TripStax Technologies Ltd was established in 2021, with investment from ATPI Group’s owners ICG (Intermediate Capital Group). TripStax operates autonomously with its own robust newly appointed management team, led by Jack Ramsey, and today at launch employs 90+ staff globally.
TripStax already has a significant customer base and The Core is already managing the equivalent of three million bookings per annum. ATPI is TripStax’s flagship TMC client and a major TMC in North America is currently in implementation. TripStax is also close to finalising agreements with TMCs in multiple European markets.
Jack Ramsey, CEO, TripStax, commented: “The reason for launching TripStax was driven by the realisation that B2B travel tech is far too fragmented and is, therefore, highly burdensome for small- to mid-size TMCs on multiple levels. The industry is rife with providers and large-scale TMCs promoting their ‘tech stacks,’ but in reality, these are a combination of multiple third-party vendor applications, white-labeled and consolidated in a marketplace style offering with complex and often unstable integrations; plus each vendor is charging transaction fees to the TMC.”
“TripStax, however, is a true tech stack with The Core at its heart feeding to and from our own proprietary applications and those of others that benefit our customers. Our vision is to empower mid- to small-scale TMCs to become more competitive against their tech lead rivals, level the playing field and significantly enhance the service they give to their corporate customers,” explained Ramsey. By adopting TripStax’s entirely new commercial model, TMCs can afford this type of high-end tech, because they can make vast savings on transaction fees. This is a hugely beneficial proposition for the business travel sector – TripStax isn’t just about a suite of integrated tech products, it’s redefining how the travel tech eco-system operates.”
Press Release Service