What does that mean for us? On our journey as a group, from a tourism company to a digital and platform company, our focus is on creating things only once to reduce complexity and invest more efficiently. This allows us to act faster and ensure that we are more relevant to our customers and better able to meet their expectations and requirements.
For us as a Group, this represents a significant change. In our annual report, our CEO Fritz Joussen formulated the objectives as follows: "We are in the second stage of TUI's realignment - the transformation to a digital company. This will give our company a much stronger position than all the steps we have taken in the past five years".
TUI's Markets & Domain Transformation initiative is a complex and ambitious programme, and we have defined a number of different workstreams that should best enable us to achieve the programme's objectives. They consist of international teams led by business and technology sponsors working in partnership. These experienced managers will take responsibility for the realization of the realignment.
The workstreams deal with essential questions for which they develop answers. In doing so, they shape and define our future cooperation across the regions - including processes, systems and organizational structures. The principle underlying all workstreams is designed to enable us to roll out developments step by step in all markets. In this way, we all benefit from common core processes and systems, but can act flexibly in the individual markets to ensure that we serve our customers optimally.
By using cloud technology, for example, we are increasing the pace of innovation and making it much easier for us to develop and implement new types of holidays and travel experiences for our customers in all markets. As part of the Markets and Domains Transformation Program, all workstreams are helping to improve the user experience and increase revenue. Our ultimate goal is to provide our customers with exactly what they want in terms of choice and flexibility by offering an even higher quality and more comprehensive product range, while accelerating our implementation.
We have an exciting journey ahead of us, and our customers will soon be able to benefit from the changes we have initiated. Because #fittogether does not only mean for us as a company to develop an optimal fit of processes etc., but especially for you, our customers.