A local software firm, A I Soft, is aiming to double its revenue this year by expanding its overseas markets, following wide success for its software applications in the travel and airline industries.
As well as focusing on overseas markets, A I Soft is planning to expand its business by offering outsourcing services.
Since it was set up six years ago, A I Soft has maintained constant development and growth. It began by developing software for sale, but soon moved into services by providing software-as-a-service.
The company's main product is an Internet-based application for the travel business called +IBE, short for Internet Booking Engine. It allows travel agents to expand their business to the online arena on a "use and pay" basis. A I Soft charges customers per transaction.
+IBE allows websites to be connected to the online ticketing systems of airlines around the worldwide, especially those using the global Amadeus network. This provides an online, real-time online ticketing service including flight scheduling, tax calculation on fares, ticket bookings, accommodation reservations and car rentals.
The application has been helping travel agents to move their reservation departments on to the Internet and operate as virtual travel agencies. Currently, about 50 travel agents in Thailand and 55 agencies overseas use +IBE.
A I Soft launched a business presence in Australia in 2008 and soon realised the huge potential overseas market for its product. The company expanded into Singapore, Hong Kong, the Philippines and China last year and this year plans to set up in Japan, Malaysia and Vietnam.
It will work with one local partner in each market to provide software services.
"+IBE has already gained a majority market share in its segment in Thailand, and the market is quite full. It is now time for the company to move aggressively into overseas markets," said managing director Kittikorn Kummalekha.
He said that this year the company would also increase its services by providing outsourcing services rather than software-as-a-service alone.
It business strategy is to provide Web-based software services for small- and medium-sized customers while offering software outsourcing servicers to large corporations. Recently, it has agreed to extend outsourcing services to three airlines in China.
A I Soft expects its revenue to increase from about Bt50 million in 2009 to Bt100 million this year, with most of the revenue coming from overseas.