It's an exciting time for businesses. There are so many software solutions available to bring you online and help simplify everything from your schedule to your bookings. But sometimes you need to see the benefits to know when it's the right time.
At TrekkSoft, we regularly share our features and talk about how they can save you time, money and a few headaches.We've also written a comparison article between the most popular tourism booking solutions for tour and activity providers, but we didn't want to stop there.
Sometimes you need the numbers to tell the story. We know a lot goes into your decision to purchase any software.That's why we've created a new way for you to calculate what you could save by switching to a software like TrekkSoft.
What is the purpose of this calculator?
The main purpose of this calculator is to help you identify whether or not you're losing money by employing people to manage your bookings instead of relying on an online solution.
In the future, we hope to build something that factors in additional features but for now, this calculator will look at how you can save money each month by switching to a booking software.
Calculate how much you're spending each month by not automating your booking process.
How does knowing your savings help?
As written in this article by TrekkSoft VP of Marketing, Olan O'Sullivan, you could be losing money every month.
"The cold hard facts are that an online booking system can help reduce staffing costs by 20-30%, depending on your size of business and increase efficiency by more than 50%. That means that even if it’s just YOU, you’re saving a truckload of time, which could free you up to spend more time marketing or just put the feet up."
Additionally, we have to be honest. A software like TrekkSoft is not for everybody. A booking software might not make sense for your business just yet, and that's okay. That's what we're trying to find out today. We hope this will help you decide if you're ready to make the switch online.
How did we work out this calculation?
We can't just give you the calculator without telling you how it works (at least to some extent!) There were a few key steps that went into building this calculator. We think if you know the steps behind it, you can better decide if it's something for you.
Step one - Ask the right questions
Since this calculator follows our structure for Based on these questions:
- How many bookings do you gain each month?
- How much does one booking cost?
- How many people do you employ to manage bookings?
- What is the average hourly pay?
- How many hours each week do these employees work?
Step two - Do the math
We started by multiplying the monthly bookings by the booking cost. This gives you the income we calculate into the other details. Next, we looked at the number of employees, average hourly pay, and their weekly work hours (points 3, 4 & 5). This total tells you how much it costs to employ people to manage bookings.
Next comes the software pricing talk. We solved for the Pay As You Go Pricing model. This factors in the $1 per booking and 8% commission/credit card rate. The $400 onboarding fee is calculated, but for the sake of the calculation, it's done on a per-month basis instead of a $400 fee upfront. Our Professional Pricing model is also factored in.
Note: Because the Enterprise Pricing model is often customized, it will not be factored into the ROI calculator.
Step three - Set the limits
Based on the numbers from the first two fields (number of bookings and cost), we see which pricing point they should be using. This calculation is based on the fact the Pay As You Go model is built for those with less than 400 bookings each year.
Per month, that means they’re averaging 33.3 bookings. So we make the cut off at 33 bookings per month for the Pay As You Go Pricing category and we make it 34 and above to categorize them into the Professional Pricing category.
Step four - Enjoy!
I hope this will be a valuable resource to you as you consider moving your business online full-time, managing your bookings from anywhere, or even if you're thinking about switching to a new booking solution. If you have any questions or feedback, please let us know in the comments below!
Calculate your savings today. Try our new ROI calculator (beta)
Published by Sara Napier Burkhard
Sara is a writer from the American West Coast. In recent years, she's written for companies like Hipmunk, iTourMobile and Mylikes. She now resides in Zurich, Switzerland where she finds new adventures and attempts to speak German with minimal success.