Interview with Magnatech
Our conversation with Paul Gioia (CEO) and Scott Millar (Director, Sales & Strategic Partnerships) revealed a great deal about the awesome TravelTech company from Montreal.
Magnatech is mostly known for its unused tickets solution. The topic is widespread in North America, but almost unknown in Europe. Why is that?
Unused tickets usually have value in both Europe and North America. In Europe, there is the possibility of a ticket refund – so the traveller receives a refund. Whereas in the US and Canada, a credit is issued for the value of the ticket minus a “penalty” when purchasing a new ticket.
With our “Ontrackplus” solution, TMCs and corporates can manage and keep track of these unused tickets ensuring they are used before expiration.
How do you achieve that exactly?
We track all of our customers’ booked tickets by scanning the corresponding GDS queues several times a day.
If a profile tool like Umbrella is used, then all unused tickets will be attached to the corresponding profile. In the case of an OBE booking, the booker will automatically be informed in the event that an appropriate balance is available.
How do you deal with non-GDS bookings?
If a corresponding ghost segment exists, we can also record, manage and report non-GDS bookings.
Do you see business opportunities for Ontrackplus in Europe as well?
With our technology, the often-complicated refund process in Europe can be completely automated. This is something we are pursuing with interested parties.
What other products do you offer at Magnatech?
In addition to our flagship product for unused tickets, we also offer solutions in the following areas:
- Duty of Care
- Quality Control
- Itinerary Delivery
- Compliance Control
- Pre-Trip Approval
Which customers are you primarily addressing with your solutions?
Magnatech is of interest to anyone using a GDS or a direct connect solution whose booking data we can read at any time.
We now work with over 30 of the 50 largest corporate travel agencies in the US and Canada.
Tell us about the company history and your participation.
Magnatech was founded in 1990. Paul joined in 2002 and Scott followed 3 years later. In 2016, we jointly acquired the company as part of a corporate restructuring. Paul is the President & CEO as well as majority shareholder.
Currently Magnatech employs 14 dynamic individuals and make up a wonderful multicultural team, which is typical of Montreal’s fast-growing software industry.
Like almost everyone in this industry, you enjoy travel. Which travel experiences have left the biggest impression on you so far?
Scott: It was actually a business trip, on the way back from Atlanta. An ice storm had paralysed all air traffic. For some reason, my flight was the very last one to be cancelled, and I didn’t realise until it was too late. As a result, I was literally the only passenger in that huge airport.
Paul: My family and I recently visited Portugal and became instant fans of the country. We thoroughly enjoyed our time in Portugal, its food, its culture and its welcoming people. Albufeira is definitely one of my favourite destinations.
Thank you for the wonderful interview and your hospitality!