Octraves’ big data solutions and patented reservations platform pave a more effective path for the industry
Octraves Technology spent six years developing TravelCompute, a platform providing a big data solution for travel and tourism, and one-stop travel reservation platform.
The big data solution integrates data from various public, proprietary, governmental and non-governmental sources, processes the information and renders insights for tourism organisations, TMCs, tour operators and airlines.
It includes more than 10,000 industry reports on travel and tourism across the globe, including destination insights sourced from social media tracking, historical data on tourism arrivals and receipts over the past 15 years, top 10 outbound destinations from main international airports, and global social media tracking of the top 25 visited attractions in a destination.
Syed Mohd Razif Al-Yahya, group managing director/group CEO of Sutra Group of Companies, which Octraves Technology is part of, shared: “We started marketing it in 2017 and have one client so far, which is Tourism Malaysia. We are also marketing this to state tourism organisations in Malaysia and foreign NTOs. We offer them a convenient tool to build a profile of potential travellers, understand the destination and make immediate informed decisions.”
Separately, the travel reservation platform is used by its associate company, Sri Sutra Travel for both B2B and B2C bookings.
It went live in 2016 and provides end-to-end solutions in areas such as customer relationship management, back office system, tour management system and inventory management system. It has the ability to perform real-time booking of flights, hotels, homestays, transfers, car hire, tours, travel, buses (tour and express buses) insurance and cruises.
The platform connects directly with various kinds of travel suppliers via the patented Dynamic Integration Technology. Partners include GDSs and wholesale travel suppliers.
Currently Octraves Technology has two joint venture overseas partners who will market the platform within their countries, while Octraves provides the technical and knowledge support. The partners are Wupi.id, a B2B outbound agent in Indonesia operated by Panorama JTB, and Tour Booking Network in Vietnam which services both B2B and B2C.
Octraves and partners earn a transaction fee for every online booking made.
“By this year end, we hope to get a third partner in Saudi Arabia,” shared Syed Mohd Razif, who is targeting at least 20 foreign partners by 2023.
The platform saw around 300 bookings monthly in its first year, and this has grown to over 3,000.