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Stoutweb Pvt. Ltd.
Location: E-13/20, I. P. Extension, Madhu Vihar, Patparganj, New Delhi, India India
Founded in: 2016
Stage: Revenue generating
Number of employees: 31-50
Funding history:
- Date: 06/2016, Accelerator/Incubator: undisclosed amount
Short URL: vator.co/stoutweb-pvt-ltd
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Stoutweb Pvt. Ltd.

Travel Technology Services for all travel agencies to automate their business.
Startup/business
New Delhi, India India
https://stoutweb.com
  • About
Company description

Established in 2016, StoutWeb Pvt. Ltd is a service provider and a hassle-free automation platform catering the needs of Travel Agents for, managing operation and tracking day-to-day activities, transactions and generating business. Holding a diverse portfolio under our belt, we at StoutWeb Pvt. Ltd, have a huge client base for customized software and mobile applications, conceptual portal development and our flagship offering– Travel LED focused on the travel and tourism industry.

Straight from our diverse arsenal of IT products and the successful foray into customized application development, our flagship offering – Travel LED has garnered the appeal of corporate and industrial applications within our short term of existence in the market. A revolutionary product in its own regard, Travel LED is a business management application for both Android and iOS platforms. This CMS based dynamic application is equipped with the future technology of an AIBOT to automate and manage business activities for the travel industry.

Developed with utmost precision as per client requirements, StoutWeb’s Travel LED is the dynamic and automated solution having an array of functionalities like multi-language and multi-currency pricing, calendar for all online and offline bookings. Not limited to touristy, StoutWeb Pvt. Ltd has enormous capacity to apply This intelligence in different tour & travel industries.

As India holds the seventh largest tourism economy with 9.6 percent of total GDP, it is expected to receive investments of Rs. 6,600 crore over next five years and promises a great potential for explosive growth in coming years. To cater to such humungous demand, StoutWeb’s Travel LED is a centralized platform aimed at solving the complexities of all tour and travel operator needs and also a means to get in touch with the untapped yet day-by-day growing market of tomorrow where prospective business growth exists.

With Travel LED, the complex processes of itinerary mapping, management of leads from different sources, invoicing, MIS reporting, customer operation and a lot more gets centralized under a single roof making it a one-stop-solution for travel agents. With the development of automated business management platform, web applications and mobile applications, our services provide the valuable opportunity for any business to scale and adapt to the changing trends.


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Team
Business model

The product is developing to provide technology solutions to Travel Agents, a hassle free automated platform to Generate Business, Manage Operation, and Track Transactions that would eventually help increase revenue generation. “Travel LED” is the brand name of StoutWeb that provides business management application, CMS based dynamic website and Mobile APP for both android and iOS platform. This has been under improvisation to provide a BOT to manage the Business Development Application and OTA(Hotel/Air/Bus booking) activities in an automatic mode.

Competitive advantage

To resolve these below issues pertaining to travel industry, StoutWeb have developed a single platform which named as “Travel LED”.

 

Managing product inventory

 

As of now more than 80% travel agents are using excel or any other manual process to maintain their product inventory which is tedious to manage. We have developed a centralized cloud space for travel agents where they can manage their inventory in all manners they want to display to customers, in website, mobile app or preparing quotations. They can manage inventory in multiple languages, multiple currency, multiple cities, multiple accommodations for multiple pricing i.e. a single travel package can have multiple pricing for different accommodations.

 

Accessing live inventory prices and Comparing prices with dierent suppliers

 

It’s a common challenge for all travel agents to get the best price and availability of accommodation and transport for any booking. Generation of a single lead and to decide on that through the traditional process of contacting the suppliers is time taking and hectic. In Travel LED we have integrated the market place for them to get live inventory availability and multiple pricing for each option which is the simplest and robust technique to book any accommodation or transport for any lead and at the same they can send multiple quotations to their customers on a single click.

 

Lead management and tracking

 

Lead management, tracking and reporting are the major edge for any business. A good lead management skill is the key to a healthy and successful business. But, most of the travel agencies are deprived of it because of their dependency on offline processes. The offline process to manage the lead doesn’t provide easier access to the lead log information and thus they lag the improvisation of the strategies and revenue models. Travel LED will provide them a simplified platform to manage the leads as well as the daily tracking activities. In addition, it will also enable them to manage reminders and notes for the follow-ups helping them to convert the lead.  The major benefit of this product is easy access to the historical data, which could be analysed to develop the action plan for improvisation of the sales strategies, manpower utilization, supplier selection and revenue generation.

 

Preparing multiple quotations and managing quotations for multi-currency and multi-language.

 

Manual preparation of multiple quotations is not the appropriate tool in the era of digitalization. It comes with a lot of hectic and erroneous work load that could end being less professional. To track and manage the follow-ups adds on to the issues. Keeping a customer’s preferences in the opportunity list and regular follow-up of the opportunities is important for every business. Through Travel LED these issues could be managed through a simple wizard flow, and at the time of sending quotation you can access the live inventory price and update the price information accordingly. It will also enable you to manage the follow-ups and regular updates on each opportunity separately to keep your business needs up-to-date.

 

Timely monitoring and planning of income and expense

 

Monitoring the balance sheet while keeping a good relation with the suppliers with timely release of funds is a critical need for every business. But, the manual process of collection and release of money makes many travel agents lose their credibility and market reputation. The best feature available in Travel LED is to split both customer and supplier payments as per the date of your choice. The LED auto agent will send reminders to both customer and member for any credit amount which again is an automation process and reducing the human efforts to collect the credit amount from customers. You can get an option where you can track and get information regarding all your payments

 

Payment options

 

Hassles in payment option! We all know the consequences. In Travel LED you will get an option of online payment gateway. The quoted price will be available on the website and/or mobile App. For the offline bound buyers, you can send the invoice with the link to make the payments. Once the payment is received, the status will be updated automatically either as paid or pending payment.

Invoice and billing management Instant generation of invoice and payment receipt with proper tax calculation in proper format is as important as we are generating and managing a business. But many of the travel agents confront difficulties and also invest a lot of time to prepare and maintain the status of invoices or payment receipts. In Travel LED you will get an option where you can send the invoice in a single click where you will get an auto filled predefined invoice and once the payment is made by the customer, it will send the receipt automatically. It will also enable you to manage the status of invoices like invoice are Draft, Paid, Unpaid and Overdue, following which you can send manual or automated reminders to your customers through the settings available in Travel LED invoicing system.

 

Instant Reporting, ROI and PL accounting

 

To get a manual report for any specific segment is very critical, where we may refer multiple files to get a summarized report. For all business analysis we require the summarized report with different parameters, and most important is to get the lead wise PL accounting report or ROI report for any sales or other investments. Travel LED comes with the feature to ease the accessibility to any type of periodical and historical report for any segment.  It will enable you to get lead tracking report, booking details report, customer or supplier’s payment report or PL account report. Which would further help you to analyse and take the appropriate decision to improve your business.

 

Accounting and taxation

 

Accounting and taxation part is a major factor for auditing and expansion of our business. And to manage our accounting and taxation system, usually we do need a third party tool like tally. However, Tally is not developed as per the travel industry requirements, it’s a common application for retail and product based companies and is not a choice for service industries. Travel being a special type of service industry, requires customized accounting application. Travel LED comes with the best solution without having the internal operation flow of accounts, which is more user friendly and more robust to manage all your accounting and taxation activities. With minimum input you can get all your required reports and automatically ledger entries for both suppliers and customers.

 

PRODUCT DEVELOPMENT ROADMAP:

 

Centralize Package management and CRM (2016)

1-Location management system

2-Accomadation pickup system

3-Package management and settings

4-Lead allocation and follow-up system

5-Opportunity and booking flow

6-Quoation sending and review

7-Payment splitting for customer and supplier

 

Invoicing and promotion management system (2016)

1-Invoice settings

2-Invoice formatting and stages

3-Taxtation management system

4-Email/ SMS marketing tools

 

Centralize Database, Reminder and Reporting and API development (2017)

1-Universal URL

2-Client wise Login

3-MIS reports

4-Centralized reminder system

5-Flight, Hotel and Bus API development

 

Accounting & White Level (2018)

1-Day to Day accounting books

2-Ledger and Journal entries

3-Supplier accounting management

4-Accounting Reports

5-PL accounts and Balance sheet

6-Whitelevel complete portal for agents

 

AI based BOT (2018)

1-Chat BOT for instance queries

2-Text BOT for supplier selection

3-Activity log BOT for updating

4-Reporting BOT for daily and periodical business reports

Machine Learning and Task Management BOT (2019)