Entrepreneur, business leader, and an investment banking and IT expert, Viineit Toshniiwal is backed by over 25 years of experience across the finance and tech sectors. Currently, he is the founder and CEO of his newly minted startup BizzO – a B2B enterprise that focuses on helping SMB service providers to build, scale, organise and empower their business digitally. Prior to founding Bizzo, Viineit held a series of leadership positions across Asia. He was the Managing Director of Equirus Capital, where he actively led buyout deals across sectors such as payments, technology and aerospace. In 2008, he also founded Private Equity Gateway where he was at the helm of closing major transactions in the PE and M&A space. Furthermore, he was the Business Head for Greater China at Infosys where he was responsible for building business for the IT giant in Hong Kong, Taipei, Singapore, Beijing and Shanghai. His profile also boasts of stints at large banks such as Citibank and Bank of America.
The Covid-19 Pandemic brought to the forefront remarkably quick the widespread adoption of QR technology, helping out businesses that needed a way to communicate in a touchless world.
In fact, reports suggest that at least one billion smartphone users will have access to this technology by the end of 2022. Isn’t that something to behold? Especially since QR code technology was used for more limited purposes earlier on, and now can be seen in play for daily transactions as well.
Despite the pandemic bringing on a wave of QR code transaction trends, all aspects and industries of the world suffered deeply due to safety regulations and a sharp decline in demand with an excess in supply. The travel, tourism, and hospitality industry took the biggest hit in terms of Covid-19.. That is, of course, not to say that revival has not been in full swing. The three interconnected industries are thriving as of now, and the QR code has a huge role to play in the same.
How are QR codes transforming traditional ways of doing business
When was the last time you physically purchased travel tickets or even a booking at a hotel? With touchless or contactless transactions, the travel and hospitality businesses are able to offer online tourist passes, QR code menus (in hotels, airports, restaurants, etc.), contact tracing (for their benefit), hotel check-ins, portals for travel-related information, image QR code landmarks, and more.
Travellers or hotel guests now need not worry about paper tickets or availability of cash since they have more at their disposal with QR codes. Moreover, QR codes are efficient in recording up-to-date health and travel data of the travellers or tourists using their services, ensuring safe stay and travel. While these are the benefits travellers can avail of, QR codes also gravely help service staff or providers by sharing their load through self-help tasks such as check-ins, tickets, hotel check-ins, portals for travel-related information, and more. Thus, they are free to pursue more important matters that need their attention.
Below are some pointers that can prove how QR codes are taking the travel and hospitality industry forward:
- In effect of busy days and a lack of accessible feedback pages, many times customer feedback cannot be recorded successfully. Fortunately, QR codes make feedback collection smooth as butter, encouraging customers to voice their opinions.
- Going to a new place or country can often render tourists confused and panicked. However, QR codes now offer unique facilities – language guidance for city tours, maps, and historic tours along with sharing addresses and locations. This way service providers or employees can focus more on human interaction for other purposes.
- Aren’t we all fascinated with the virtual possibilities technology brings us? Virtual travel, for example, through the help of augmented reality is one fruit you must taste. And how is it even a possibility – QR codes. So even if you can’t afford to actually take a trip abroad, you can still have a few hours of a break online.
- On an administrative level, QR code technology can help maintain logistics more efficiently by recording significant data automatically. This is an important exercise since travel agencies, hotels, and more need to analyse this data in order to identify what works for them and doesn’t, and gives them the opportunity to grow and change.
- Then come the more obvious benefits like touch and go, QR codes in elevators, and transactions through payment portals (GooglePay, Paytm, and more). So wherever you may go and whatever linguistic challenges you may face in a strange country or city, you can make touchless and easy transactions without much of a hassle.
- Lastly, at least this technology is assisting in the goal to save paper since it is eco-friendly, and eliminates the need for printed tickets, boarding passes, etc., contributing to a larger cause.
All in all, QR code technology has the ability to completely transform customer experience and retention. It is a foolproof new addition to the travel, tourism, and hospitality industry. Perhaps why it has been on such a steady rise in the past few years. It also plays a huge role in helping individuals brush up on their tech knowledge when travelling, while offering an expanse of travel-related quips and more. The chronological chain of explore, decide, book, pay, experience, review, and recommend, will slowly change and better itself with the QR code technology. It will prove to be a great tool to modernise travel and hospitality leading to faster consumption of services and more substantial returns.