IBS Software, a leading Software as a Service (SaaS) provider for the global travel sector, is targeting new growth opportunities in India’s airline industry and loyalty programs sector.
The company, known for its strong presence in the travel and aviation sectors, is seeking to tap into India’s fast-growing market, which is known for its price sensitivity. The move comes as the company anticipates significant growth potential within India, a key market for the global travel industry.
IBS Software, based in Singapore, is already a trusted partner for around 200 clients across various industries, including aviation, travel, cruise, hospitality, and energy. Its client roster includes some of the world’s top names, such as Emirates, British Airways, China Airlines, Cathay Pacific, Etihad, Japan Airlines, KLM, Lufthansa, Virgin Atlantic, Hyatt, Hilton, Chevron, ADNOC, and Royal Caribbean International.
With a workforce of approximately 5,000 employees, the company is now focusing its efforts on strengthening its position in India. Currently, IBS Software provides software solutions for air cargo operations and manages staff travel for Air India. During an interview with PTI in Kochi, Founder and Executive Chairman V K Mathews revealed plans to collaborate with domestic airline giants IndiGo and Akasa Air. Mathews emphasized that IBS Software offers the most comprehensive suite of products for the aviation and travel sectors.
In addition to its focus on the airline industry, IBS Software is also setting its sights on India’s loyalty programs market. When asked about potential expansion into this sector, Mathews responded with confidence, stating, “Absolutely, that is one area that we will be looking at.” The Indian market’s growing travel industry and increasing consumer demand make it an attractive target for loyalty programs that reward frequent travelers.
India’s civil aviation sector is one of the fastest-growing in the world, with domestic airlines aggressively expanding their fleets and routes to meet rising demand. This presents a significant opportunity for IBS Software to introduce new solutions aimed at improving customer engagement and loyalty within the aviation sector.
Mathews also acknowledged the challenges posed by India’s sensitivity to pricing. He explained that while the market may perceive IBS Software’s offerings as costly, the company focuses on delivering value through advanced technology and systems. “In India, IT is often viewed as an expense rather than a value-adding resource,” he said. However, this perception is gradually changing,” he noted. As India’s economy continues to evolve, Mathews believes there will be a shift towards recognizing the value differentiation provided by premium technology solutions.
While acknowledging that IBS Software has not yet achieved the same level of success in India and China as it has in other markets, Mathews remains optimistic about the growth prospects in India over the next two decades. He views the country as a key growth driver for the company’s future success.
Looking ahead, Mathews identified several key industry trends that are expected to shape the future of the travel and aviation sectors. These include the need for best-in-class technology systems, advancements in travel commerce, and enhanced customer relationship management.
“In airline retailing, there are numerous opportunities at the airport level. We provide retail capabilities to airlines, while our airport solutions focus on commercial aviation, including departure control, check-in, and cargo management,” said Mathews.
As IBS Software continues to expand its footprint in India and other key markets, the company remains poised for significant growth, tapping into the vast potential of India’s rapidly evolving travel sector.
M K Stalin accused Pradhan of insulting Tamil Nadu’s people and questioned Prime Minister Narendra…
Prime Minister Narendra Modi will embark on a two-day visit to Mauritius, where he will…
Patiala House Court has granted a 3-day extension to the Enforcement Directorate (ED) remand of…
Rashid argued that, as an elected representative, he must fulfill his responsibility by attending the…
India’s GDP grew by 6.4% year-on-year in Q4 2024, supported by private consumption. Goldman Sachs…
The petition accuses the UP government of irregularities in land acquisition from 2021 to 2023.…