Press Release - MIDOCO Group wins new customers during the pandemic

PRESS RELEASE

MIDOCO Group Wins New Customers During Pandemic and Provides New Functionality

Hilden/Wetzikon, June 17th 2021 – During the pandemic, many travel companies have decided to invest in upgrading their system architecture. As a result, MIDOCO Midoffice, Umbrella.net, and Umbrella Faces were able to win several new clients at both home and abroad over the past 15 months. In addition to this, MIDOCO Midoffice also implemented a series of functionalities driven by regulatory change and advanced the product development pipeline of all products in the portfolio with multiple releases of new functionality.

Over the past 15 months, MIDOCO Group has acquired more than 140 new clients in the UK, US and across continental Europe. Among them are UK agents EFR Travel Group, Easy Avenues and Insight Booking Solutions, and from Europe agents including ATG, Switzerland Travel Centre, TUI ltur, Comtravo, STA Germany, TravelTrust, Österreichisches Verkehrsbüro, Rilex AG and many more. Umbrella Faces, MIDOCO Group's profile automation solution, increased its profile count to over 3.5 million profiles with the implementation of 17 new clients.

Yvonne Rascan, Director Implementation International Customers at MIDOCO, states, "The impossible has occurred, travel nearly came to a complete halt - the pandemic has shown that companies, especially in times of crisis, are dependent on technical solutions that ensure smooth and cost-saving operations under challenging conditions, especially with reduced staff. The reduced booking volume, whilst incredibly challenging for companies, has actually freed up resources for the implementation of technical projects. When travel picks up, this decision will pay off."

In 2020, despite the pandemic, critical regulatory changes were pending that also affected MIDOCO products. Three transition periods for European regulations expired in 2020. These included introducing the second Payment Service Provider Directive PSD-2 on September 14th 2020, the Cash Security Regulation on October 31st 2020 and the E-Invoice Regulation on November 27th 2020. In addition, MIDOCO facilitated the VAT conversion for its clients as part of the German Corona economic stimulus package. MIDOCO also implemented at short notice the VAT changes for the UK as part of the Coronavirus stimulus package in that market. MIDOCO is specifically designed so that it can easily adjust to upcoming market developments, such as Brexit, through its system architecture. MIDOCO customers at home and abroad can make corresponding changes to the taxation of purchasing services and service charges quickly, often without any development effort.

Among the new MIDOCO functionalities is the sophisticated handling of different currencies via the upgraded MIDOCO FX Calculator. In addition, MIDOCO continues to evolve the commercial offering to its customers to respond to the challenges faced by agencies in the wake of Coronavirus, offering many more flexible and cost-effective configurations than before. PCI/DSS compliant credit card payments can now be added to the core platform via the add-ons m.CC Leisure and m.CC Business, whilst payment processing at the point of sale can now be activated via the add-on m.POS and the automated billing of service fees via m.Fee. Each of these modules need not be taken if not required, saving the agency operating costs in times where operating margins have been eroded to nearly nothing.

David Chappell, Country Director of MIDOCO Group, comments: "Despite the pandemic, many travel companies have opted for MIDOCO Group software solutions. We see this as confirmation that we offer the right solutions for travel companies at a time when having the best technology is becoming increasingly important to the viability of an agency’s value proposition. With the right products and service, we support travel companies to deliver extended service to their customers even under these changed conditions. We are grateful for the trust put into us and glad to have signed and successfully launched several new clients in the UK market."