Introducing Rezchain
Cross-platform travel booking verification technology
How do you know your booking data is the same as that held by your travel partner, and why is that important?
Data mismatches are conservatively estimated to occur in about 5% of hotel bookings. The impact of these discrepancies is generally not felt until after travel is completed and transactions are invoiced.
It is then that differences are identified, triggering a time consuming and painful reconciliation process, resulting in heavy resourcing requirements and financial exposure.
Many components of a reservation can mismatch during the life of a booking impacting booking integrity, including; price, duration, date changes, incomplete bookings, booking status and currency.
These have been known and accepted risks across the distribution chain, until now…
What if those mismatches could be identified and corrected at the time of booking, or when changes occur?
The notification of booking discrepancies between two parties, before they become impactful, sits at the core of Rezchain – a unique and innovative travel technology product providing industry partners with a simple and effective cross-platform verification service throughout the booking lifecycle.
Designed using blockchain technology, Rezchain is like a combined virtual handshake and early warning system.
It enables any two parties to verify that their hotel reservation data matches across their different booking platforms.
The parties involved submit data to be compared each day. Any discrepancies are detected and both companies are alerted to the mismatches so they can be rectified before they become a costly back-of-house issue.
The problem Rezchain addresses is common, and the benefits for partners are immediate, including;
- Error reduction
- Preventing issues “at the hotel”
- The elimination of out-of-pocket costs associated with booking data discrepancies
- Saving countless hours of staff time spent reconciling bookings
- More harmonious relationships between buying and selling partners
