Slide 1: Webjet Limited
WEBJET LIMITED John Guscic Managing Director 26 April 2017
Slide 2: Who is Webjet Limited?
Who is Webjet Limited? WHO IS WEBJET? DIGITAL TRAVEL BUSINESS … spanning both global wholesale markets (through B2B) and consumer markets (through B2C) B2B TRAVEL B2C TRAVEL Online fulfillment of hotel bookings Leading online consumer travel for our travel industry partners brands Webjet WebBeds Glo
Slide 3: History of Innovation – Webjet.com.au
History of Innovation – Webjet.com.au 2004 2005 2006 2007 .net (TSA development) Virtualisation, moving International Matrix Deal Finder & Deal Introduction of World’s first Travel Services from physical services Development, Finder Alerts, Webjet’s American Aggregator technology, bringing to Virtua
Slide 4: Blockchain
‘webjet limited Blockchain
Slide 5: Innovation in the WebBeds World
Innovation in the WebBeds World What is the problem we are trying to solve? • B2B settlement between hotel suppliers and travel partners is a complex, timely and costly process. • Multiple IT systems between players pave the way for reconciliation pain and error risk. • Significant financial exposur
Slide 6: Highly Inefficient Process Ripe for Disruption
Highly Inefficient Process Ripe for Disruption Background • Multiple intermediaries in the distribution of hotel rooms to consumers • Each intermediary has a discrete booking/reservations system and set of practices • No “single source of the truth” and limited validation post initial booking • Data
Slide 7: Industry Issues
Industry Issues Breakage – instances where a service 1 in 25 Bookings is provided but never invoiced 1 in 3 Bookings The ratio of bookings that are amended in some way Have some sort of 1 in 10 Bookings manual intervention Data mismatches Mismatches found Companies incur Financial loss occurs includ
Slide 8: What has Webjet Built?
What has Webjet Built? • A simple solution designed to allow any 2 parties to verify that the data they hold on a booking is the same. • This “handshake” occurs each time a booking is made or changed in any way - “do we agree?” • If a discrepancy is found, the parties are notified with information o
Slide 9: Why Use Blockchain to Solve for This?
Why Use Blockchain to Solve for This? The Blockchain solution offers 2 unrelated parties an attractive platform to verify when their data does match…and when it doesn’t Decentralised: • There is no single owner of the blockchain - processing power can be contributed by any of the participants, leadi
Slide 10: Blockchain – Key Milestones to Date
Blockchain – Key Milestones to Date Apr 2017 Mar 2017 Hack 4: Focus on Jan 2017 Field work commercial with SH and modelling Nov 2016 Hack 3: LOH to Version 3 using the Oct 2016 Concept quantify developed Ethereum presented value and platform July 2016 Hack 2: to manage at Microsoft results Distribut
Slide 11: A Case Study - Our Learnings to Date
A Case Study - Our Learnings to Date Labour Costs to Address Disputes Costs that Could be Avoided Using Blockchain • 40 random disputed bookings selected Using a conservative average booking value • 11 hours of labour could have been (ABV) of $300, this equates to a potential hard saved if the misma
Slide 12: How Does That Translate in the Real World?
How Does That Translate in the Real World? Trials have shown a consistent 3 – 3.5% dispute rate Hard Costs Saved between buyers & sellers Labour Costs Saved 10,500 bookings result in hard loss (or 70% of disputed bookings) Disputed Bookings 3,750 hours Hard loss (@ $300 reconciling between ABV/booki
Slide 13: Thank You
THANK YOU April 2017 =* sunhotels a aoe
Slide 14: Artificial Intelligence
‘webjet limited Artificial Intellig
Slide 15: Artificial Intelligence
Artificial Intelligence “If you don’t have an AI strategy you are going to die in the world that’s coming.” --- eBay President and CEO Devin Wenig 15
Slide 16: Artificial Intelligence – Why?
Artificial Intelligence – Why? Leisure travel is How can we about fantasy. create the It is about the realisation of dreams ultimate leisure and aspirations. It may be escape. It may be adventure. It may be a travel experience quest. It may be about a reinforcement of a person’s sense of tribal or s
Slide 17: Artificial Intelligence – Why?
Artificial Intelligence – Why? Currently - the perfect leisure travel experience does not exist, online or offline. A solution is Offline travel agents are limited by needed to assist whatever tools, processes, and content are made available to them - as well as their own experiences, knowledge and
Slide 18: Artificial Intelligence – The Future
Artificial Ar Intelligence – The Future • By using artificial intelligence and machine learning to build on the transactional online travel experience today, we have the opportunity to Idea transform the existing leisure travel shopping Inception Planning experience to something exceptional. • Artif
Slide 19: Thank You
THANK YOU April 2017 =* sunhotels a aoe