Business development plan and customer relationship management

Disclaimer: This dissertation has been submitted by a student. This is not an example of the work written by our professional dissertation writers.

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Customer relationship management(CRM) consists of the processes a company uses to track and organize its contacts with its current and prospectivecustomers. CRM in its broadest sense simply means managing all customer interactions. In practice, this requires using information about one's customers and prospects to more effectively interact with its customers in all stages of its relationship with them. We refer to these stages as the customer life cycle.

The customer life cycle has three stages:

Ø Acquiring customers

Ø Increasing the value of customer

Ø retaining good customer


The specialist area ofbusiness developmentcomprises a number of techniques andresponsibilitieswhich aim at gaining newcustomersand at penetrating existingmarkets. Techniques used include:

§ assessment ofmarketingopportunities andtarget markets

§ intelligence gatheringoncustomersandcompetitors

§ generatingleadsfor possiblesales

§ advising on, drafting and enforcing sales policies andprocesses

follow-up sales activity.

Project work:

  • Learning of the major products and services of Thomas Cook (India) Ltd.
  • Major Clients
  • Major Competitors
  • Acquiring a larger market share
  • Learning about Customer Relationship Management


  • Acquiring new customers.
  • Retaining existing customers
  • To have larger market share


  • Sometimes it is very hard to get an appointment with a corporate client as they have tough schedules.
  • Meeting the right person in the organization is not an easy task who has the decision making power.
  • Lack of transparency by companies in providing their data.
  • Time period constraint was there for carrying out analysis.


2.1 Company Profile

Thomas Cook Group plc is a leading international leisure travel group, created by the merger of MyTravel Group plc and Thomas Cook AG in June 2007. Thomas Cook Group plc is a fully listed company on the London Stock Exchange. Thomas Cook (India) Limited is a part of Thomas Cook Group. It remains as a subsidiary of TCIM Limited, an unlisted private company, incorporated under the laws of England and Wales having its Registered Office at Peterborough, England, U.K. and holding 55.87% of the post Rights Issue paid-up equity share capital of the Company. Thomas Cook UK Limited (TCUK) apart from holding 21.45% of the post Rights Issue paid-up equity share capital of the Company, also holds 100% holding in TCIM Limited. Thus, TCUK indirectly holds 77.31% of the present paid-up equity share capital of the Company.

2.2 Thomas Cook (India) Limited

During the year 2008, the Company successfully consolidated various businesses across Thomas Cook (India) Limited and its subsidiaries. The Company derived the synergy benefits in 2008 arising out of various initiatives like network harmonization, closure of non-core and loss making units, manpower realignment, and contributions from tourism boards for marketing spends, re-negotiation with vendors due to increased bargaining power. The one-time cost of integration amounted to Rs. 69.8 million.

Thomas Cook organized a 19 city Summer Holiday Sale, a pan-India Holiday road-show offering the best Holiday deals. The roadshows were very successful giving a boost to the Domestic Business. The year 2008 was focused on Domestic Tourism with its launch through the brand name: My India, My Way. During the year, packages catering to the needs of different segments of customers were created. the Company was the first Travel Company to offer Indian Rail Bookings online in partnership with IRCTC on its portal. Further, the Company also integrated with Hotels4u real time on giving its online customers first hand access to over 30,000 hotels in the Hotels4u inventory. The Company also tied-up with Axis Bank for pre-paid forex card which offers exchange upto 7 currencies.

Thomas Cook (India) Ltd. is the largest integrated Travel and Travel related Financial Services Company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, Leisure Travel, and Insurance. The Company launched its Indian operations in 1881 and is celebrating its 127 years of world-class service in India. Thomas Cook (India) operates in the following areas of business, namely:Leisure Travel, Corporate Travel Management, MICE, Foreign Exchange, SWIFT Network, Travel Insurance, Credit Cards, Pre-Paid Cards, Life Insurance and E-Business.

Post March 31st 2008, Thomas Cook (India) Limited (TCIL) is a part of Thomas Cook Group plc UK (TCG). On March 7th 2008, TCG announced its decision to acquire TCIL from Dubai Investment Group. Thomas Cook Group plc is one of the largest travel groups in the world with a market capitalization of approximately US$6 Billion.

In June 2006, Thomas Cook (India) acquired LKP Forex Limited and Travel Corporation (India) Pvt. Ltd. (TCI).TCIL presently operates in over 61 cities across almost 166 locations in the country. The company has overseas operations in Sri Lanka which is a branch of TCIL and Mauritius which is a subsidiary of Thomas Cook (India). The Company employs over 2,500 resources and is listed on both the Bombay Stock Exchange as well as the National Stock Exchange.

Thomas Cook (India), over the years has received several prestigious awards such as the Golden Peacock Award for excellence in Corporate Governance and the Pacific Asia Travel Association (PATA) Golden Award for Best Travel. Recently, the Company won the Best Tour Operator at the CNBC Awaaz Travel Awards 2008 and was also accredited the P1 rating which is the highest financial rating given by Crisil.

2.3 Financial Facts of the Company

Revenues as on December 31, 2010 as declared in the annual report was Rs 2588 million crore. A dividend of 37.5% on the equity share capital had also been the proposed dividend on the equity capital and preference

Capital absorbs Rs. 93 million for dividend and Rs. 16 million for Dividend Tax.

2.4 Listing of Shares

THOMAS COOK INDIA LIMITED is listed on two Stock Exchanges in India viz. Bombay Stock Exchange Limited, Mumbai and National Stock Exchange of India Limited, Mumbai.

2.5 Principal Bankers:

State Bank of India

ICICI Bank Limited

HDFC Bank Limited

IDBI Bank Limited

Deutsche Bank

Standard Chartered Bank

The Hong Kong and Shanghai Banking Corporation

2.6 Awards

Thomas Cook (India), over the years has received several prestigious awards such as the Golden Peacock Award for excellence in Corporate Governance and the Pacific Asia Travel Association (PATA) Golden Award for Best Travel. Recently, the Company also won the Best MICE Operator Award and was also accredited the P1 rating which is the highest financial rating given by Crisil.

Recently, Thomas Cook has been Awarded the 'Best Tour Operator' by CNBC Awaaz Travel Awards for the Second time in a row and the 'Best Forex Company in India' by CNBC Awaaz Travel Awards 2009

Apart from this Thomas Cook has won the following awards:

  • Best Travel Agency Award2004 given by TTG Asia - Part of Pacific Asia Travel Association (PATA) for the 5th year in succession.
  • The Golden Peacock Award for Corporate Governance, for the second time in a row. The Criteria for this award are transparency, excellence in conducting business, various levels of management, social and environmental responsibility, ethical business practice and Consistent creation of value for all the stakeholders.
  • The National Tourism Awardfor 2001-2002 & 2002-2003, winning the second rank in category 1 for the company that achieved the highest foreign exchange earnings from Ministry of Tourism.
  • National Tourism Award - Best MICE Operator2006-07
  • National Tourism Award - 3rd prize Inbound Operator2006-07
  • The Association of Business Communications of India(ABCI) where the company won the first prize for its website -
  • Awarded "The Best Outbound & Inbound Tour Operator of the Year" award at the Hospitality India Awards 2006 hosted by Hospitality India.
  • Recipient of the prestigious Government of India Ministry of Tourism award for "Excellence in Conference Tourism"
  • Best Travel Agency - India for the year 2008by TTG Asia - Part of Pacific Asia Travel Association (PATA)
  • Best Tour Operator by CNBC Awaaz in 2008
  • Best Outbound Tour Operatorin the 4th Hospitality India & Explore the world Annual International Awards - 2008



  • Image
  • Overall presence
  • Customized services
  • Efficient sales staff
  • High focus on customer satisfaction
  • Handling last minute transactions


Inability to fully cover each market

Not aggressive in advertising


Unexplored Market

Hotels in Manesar


Other players in foreign exchange market.


3.1 About Foreign Exchange Market

In today's world no economy is self sufficient, so there is need for exchange of goods and services amongst the different countries. So, unlike in the primitive age the exchange of goods and services is no longer carried out on barter basis. Every country in the world has a currency that is legal tender in its territory and this currency does not act as money outside its boundaries. So whenever a country buys or sells goods and services from or to another country, the residents of the two countries have to exchange currencies.

Foreign exchange market is described as an OTC (over the counter) market as there is no physical place where the participants meet to execute the deals. The largest foreign exchange market is in London, followed by the New York, Tokyo, Zurich and Frankfurt. The market are situated throughout the different time zone of the globe in such a way that one market is closing the other is beginning its operations. Therefore, it is stated that foreign exchange market is functioning throughout 24 hours a day.

3.2 Need for Foreign Exchange

If an Indian company exports cotton fabrics to USA and invoices the goods in the US dollar. The American importer will pay the amount in US dollar, as the same is his home currency. However the Indian exporter requires rupees i.e. his home currency for procuring raw materials and for payment to the labour charges, etc. Thus, he would need to exchange US dollar for rupee. If the Indian exporter invoices their goods in rupee, then the importer in USA will get his dollar converted in rupee and pay the exporter. From this we can infer that in case goods are bought or sold outside the country, exchange of currency is necessary.

3.3 Following are the major bifurcations:

  • Full fledge moneychangers - these are the firms and individuals who have been authorized to take both, purchade and sale transaction with the public.
  • Restricted moneychanger - these are shops, hotels, etc that have been authorizes only to purchase foreign currency towards cost of goods supplied or services rendered by them or for conversion into rupees.
  • Authorized dealers - these are the ones who can undertake all types of foreign exchange transaction. Banks are the only authorized dealers. The only exceptions are Thomas Cook, Western Union.

3.4 Participants in foreign exchange market

The main players in foreign exchange market are as follows:

  1. Customers: The customers who are engaged in foreign trade participate in foreign exchange market by availing the services of banks.
  2. Commercial Banks: They are the most active players in the foreign exchange market. Commercial banks dealing with international transaction offer services for conversion of one currency into another. They have a wide network of branches.
  3. Central Bank: In all countries Central Bank have been charged with the responsibility of maintaining the external value of the domestic currency.. Generally this is achieved by the intervention of the bank.
  4. Exchange Brokers: Forex brokers play a very important role in the foreign exchange market. However the extent to which the services of foreign brokers are utilized depends on the tradition and practice prevailing at a particular Forex market centre.
  5. Overseas Forex market
  6. Speculators

3.5 Major Competitors

The major players in the foreign exchange market

  • VKC
  • FRR
  • FCM
  • RR SEN


4.1 Holidays - Inbound

Inbound Tourist refers to tourists/ travelers coming to India.

Inbound tour operators promote India as a tourist destination. TCIL organizes tours for foreign tourist visiting India. TCIL organizes Individual tours, group tours and Conferences. Various services offered in inbound business are accommodation, ticketing, roundtrip, excursion, land arrangements, airport transfer etc. These services are procured from providers of these services like hotels, airlines, transporters, guides etc. within India. Customers are typically individuals and are sourced by overseas principals, tour operators or travel agents. TCI, one of the subsidiaries is among the leaders in inbound tourism and works closely with tour operators worldwide.

TCI has a widely distributed network of travel agents and tour operators worldwide. It has around 20 offices in India and a total of 11 offices in USA, Canada, UK, France, Germany, Spain, China, Korea, Japan and Australia.

TCIL also acts as a ground handling agent domestically for Charter flights coming from international destinations. TCIL also offers customized individual holidays, group escorted holidays, MICE (Meeting, Incentive, Conference and Exhibition) arrangements and emergency medical assistance.

Inbound travelers handled by our Company are primarily from Europe and USA.TCIL enters into business arrangements with the foreign tour operators for servicing their customers when they arrive in India.

4.2 International Holidays

Outbound tourist refers to Indian Nationals traveling out of India.

TCIL offers outbound tour packages across approximately 50 Countries. Outbound packages include various services like air tickets, visa, travel insurance, airport transfer, hotel accommodation, sight seeing, etc.

International Holidays is further classified into following categories:

  1. Group Escorted Holidays: These are ready made packages where a group of travelers is escorted by a Tour Manger.
  2. Customised Individual Holidays: Tailor made packages based on individual requirements
  3. MICE: Dealers/Employees are sent on tour by Corporates.
  4. Sales agency amongst others for Star Cruise, Rail Europe, Globus, Cosmos Tours, Greyhound, Amtrak, Rocky Mountaineer Vacations, Japan Rail and Costa Cruises

4.3 Domestic Holidays

  • Domestic Travel refers to Indian Nationals (Tourists, Business Travelers, Students, Leisure travelers) traveling within India. Various services offered are accommodation, ticketing, roundtrip, excursions, land arrangements, airport transfer, etc. These services are procured from service providers like hotels, airlines, transporters, guides, etc.
  • TCI, one of our subsidiaries specializes in special interest and incentive tours, conferences and air charter / cruise ship ground operations. It operates its own Taj Mahal Tour and Delhi City Tour and is a General Sales Agent ("GSA") for the Palace on Wheels and the Deccan Odyssey.
  • TCIL is an active member of various industry and professional organizations.

4.4 Air Tickets

Book your Air Tickets for your travel with TCIL either offline or online through the           TCIL offers a complete range for flights, right from Low Cost to Full service Airlines, to choose from.

4.5 Rail Tickets

Book your Rail Tickets for your travel with Thomas Cook either offline or online through the You can choose either Indian Rail Tickets that are available via IRCTC or International Rail Tickets via Rail Europe. TCIL offers a complete range for Rail Bookings, International or Domestic.

4.6 Corporate Travel

Corporate Travel forms a dominant share of overall travel business of our Company. TCIL manages the travel budgets of several large national and multinational companies. The large scale of operations enables it to effectively manage travel budgets of several Multi National Companies, Blue-Chip companies and Multinational banks to their advantage. The Company provides Integrated Travel Management / Advisory Services to more than 300 Corporates.

TCIL provides customers a complete basket of products for all their travel needs:

§ Air Reservations

§ Hotel Reservations

§ Land arrangements which includes sight seeing, car rental, transfers etc.

§ Passport / Visa Service

§ Conference / Incentive tour arrangements

§ Foreign Exchange

§ Insurance

The branches specialize in offering tailor-made Travel Policies for each corporate, thereby bringing savings on spend.

Based on requirements and volumes of business, corporate are serviced either by having a dedicated relationship team visits client's office regularly or having a dedicated & expert travel consultant with Centralised Reservation System located at the client's site as an 'implant'.

4.7 Meetings, Incentives, Exhibitions & Conferences

One Stop Shop for all your travel needs i.e. air tickets, accommodation, event management, forex, visas, travel insurance etc. Hands on approach of senior management, including travelling along with the group Dedicated team in each hub providing specialised services Most experienced and cooperative Tour Managers in the industry Operations geared up to handle large groups. TCIL has successfully handled several groups of over 300 pax in the year 2008 A specialised quality control department that would ensure smooth delivery of services at every stage.

Experience:This refers to the experience of the travelers right from the time they board the airline to the foreign destination till the time they come back. The travel here is a REWARD for the dealers/employees of the company who have done well over a period of time. The company (as well as the employees) expects the trip to be an enjoyable, hassle free and fun filled "experience". Thomas Cook understands their concern and provide them this experience through our:-

  • Experienced, dependable and extensively traveled Tour Managers, who are available with the group 24 X 7, provide their personalized services to the group and at times, act as crisis managers. In contrast, the other tour companies often send their ticketing person as the "tour manager".
  • The requests for special Dietary requirements are taken care of completely. The Indians are very particular about the food they eat (e.g.) Jain food. It is made sure that the clients get the same, irrespective of the location they are traveling to.
  • The sightseeings that are offered are often exotic and different from the rest of the tour operators.

Customer Focus/Customer Centric/Exceptional Service:This primarily refers to the experience of the corporate with the sales representatives. There is a huge extent of customization in case of a MICE trip in terms of destinations, hotel requirements, conference needs, sightseeings to be covered, gala dinner venue, team building activities etc. The prime focus is always to cater to our customers' specific needs and the intent is to delight the customer by always delivering more than promised by us/expected by them.

Dependable:This comes out of the reputation of the company (TCIL) and the vast experience of handling a large number of MICE movements in the past. The fact that TCIL has trusted business partners (suppliers) for every destination and that there is always an experienced tour manager with the group ensures that the clients feel secure when they travel with us. Moreover, the reputation of the company ensures that there will be no let up in the service quality and there won't be any trivial financial issues.

Reservoir of Knowledge:The experienced employees of the MICE business make sure that they function as a "travel consultant" to the client rather than being a "travel agent" to them. It is believed that with the expertise, TCIL is in a position to provide multiple options to our customers. This is especially true in case of clients who have a budget constraint. Once the client is provided with multiple options along with the pros and cons for the same, they are in a much better position to take a decision regarding the destination as well as the services that they expect us to provide them.

Value for Money/Cost Effective: TCIL is committed to provide quality service to its clients and they do not believe in any compromise on the same (0% Compromise). It is made sure that the experience that our clients get is of a greater value than the cost that they pay for it. If TCIL's cost is more than the competition, then there is ALWAYS a very strong reason for the same (which could be better quality of hotels, better airlines, EXTRA inclusions etc.).

Product Innovation:Over the last decade or so, the MICE industry has been booming. Since then, some of the companies have been traveling each year (with multiple incentives/conference tours). They are always looking out for new destinations for the incentive trips. TCIL's endeavour is to be ahead of the competition at all times and product innovation is one way of doing that. TCIL has promoted new destinations at different points of times which have traditionally never been thought of for a MICE trip. E.g. Jordan, Japan, Macau, Canada. Moreover, within the same destinations, TCIL has managed to change the product mix by changing the venues for Gala Dinner (at cruise, Desert Safari etc.) or including some exotic sight seeings or providing some out of the box team building activities or in any other way.

Wide Reach:TCIL is confident of providing our customers with the best of the services at any destination that they wish to visit. This is due to the vast resources of the company and due to the number of trusted business partners that we have all over the world.

One Stop Shop for MICE needs/Integrated travel services:It's the firm belief that once the customer enters one of our offices, all his travel needs will be catered to. TCIL provides the customer with the forex services, insurance cover and a travel card. Moreover, TCIL can service their visa requirements better than any other tour operator because of our goodwill and the relationships that we have with the various embassies/consulates. We have the ability to provide the customer with a 360 degree experience on a consistent basis.

Work with Play:This is particularly true in case of the corporates who have an offsite for a conference/meeting. TCIL ensures that after a hard day's work, they have a relaxed and fun filled evening. This can be done by sending them on a night cruise or by treating them to a Gala Dinner with free flow of liquor and a Live DJ. In one of the cases, we had sent a couple of VJs and RJs (RJ Taraana) from India who made sure that everyone from the group was involved in the fun activities.

4.8 Thomas Cook Credit Card

The Company offers Thomas Cook credit card in association with ICICI Bank Limited. Thomas Cook and ICICI Bank are marketing and issuing a co-branded credit card to the customers for using the same at various Master Card retail merchant establishments for availing benefits attached to the said card. The card has been devised as part of loyalty program for the products of the company with benefits attached to spend through the card at Thomas Cook outlets.

Salient Features:

Thomas Cook Titanium MasterCard features in brief:

  • The card has been specially designed for frequent travelers.
  • Attractive 6 reward points for each spend of Rs.100 on the card on Thomas Cook products
    - Free Delivery of Foreign Exchange within city limits
  • Rs. 5,000 discount on any Thomas Cook GIT product
  • 1 Free Air ticket to a domestic destination on the issuance of new card
  • Complimentary travel inconvenience insurance policy
  • Access to MasterCard travel lounges at Airports across the world
  • Redemption of reward points for Thomas Cook holiday packages, hotel stays, air tickets, airline upgrades, etc
  • Conversion of Thomas Cook reward points to frequent flyer miles - convert the reward points earned on card to frequent flyer miles on select domestic airlines.
  • Positioned as a comprehensive travel card
  • Assured gifts for the joining fees - free air ticket / discount voucher
  • Higher reward points for card swipes at Our Company's outlets
  • Redemption of reward points against Thomas Cook products encouraged

4. 9Travel Insurance

Insurance business of being carried out through our 100% subsidiary - Thomas Cook Insurance Services (I) Ltd. ("TCISL"). TCISL is a corporate agent of Tata AIG General Insurance Company Limited. TCISL entered insurance distribution in 2001 and offers the following products and services:

  1. "TravelCare" (Overseas Travel Insurance)- Travel Care offers security for travelers which covers travel insurance, hospitalization, loss of documents, Repatriation of Remains, emergency Cash Advance or any other crises which requires assistance.
  2. "FamilyCare"- An Overseas travel Insurance cover for entire family of 4-5 persons with single overall sum insured.
  3. "ScholarCare" (Overseas Student Insurance)- A customized product for all students studying abroad which ensures timely assistance in case of unexpected surprises in a foreign land.
  4. CorporateCare (Overseas Corporate Travel Insurance)- For Companies where employees travel abroad frequently on work, we have customized group policies. All foreign trips undertaken by employees in a year are covered under a single policy.

TCISL provides all insurance products at all our outlets, leveraging on ability to cross sell insurance products to our Travel and Forex customers.

4.10 Foreign Exchange

Thomas Cook India is the largest non banking authorized Dealer in India providing an array of foreign exchange products and services to various customer segments in India, Srilanka and Mauritius It has the largest network of branches with 144 locations across 53 cities in India including 28 airport counters in major cities working 24 x7x 365 days. It also has a vast presence in Mauritius with 12 locations including international airport and also in Sri Lanka at 3 major locations. It has been awarded the best foreign exchange company by CNBC Awaaz for the year 2008 and 2009.

4.11 Service Strategy of Thomas Cook

To deliver exceptional service to all internal and external customers

By Being    By Providing       By Ensuring

Proactive  Professional Service      Personal Care







Thomas Cook has been granted an authorized dealers' license (category II) by RBI to deal in foreign exchange through its designated branches. Under this license, we have been, inter-alia, granted permission to undertake the following activities:

1. Retail purchases of foreign currencies and travelers cheques.

2. Bulk purchases/sales of foreign currencies from/to authorized dealers, money changers and franchisees.

3. Release / remittance of foreign exchange for the following activities:

a. Private Visits

b. Remittance by tour operators/travel agents to overseas agents/principals/hotels

c. Business Travel (including for Central and State Government officials)

d. Fee for participation in global conferences and specialized training

e. Payment of crew wages

f. Film Shooting

g. Medical Treatment abroad

h. Overseas Education

i. Remittance under educational tie up arrangements with universities abroad

j. Maintenance of close relatives abroad

k. Stall rentals and participation fees in connection with participation in overseas exhibitions / fairs

4. Import and export of foreign currency and export of encashed Traveler's Cheques

5. Maintenance of foreign currency accounts with banks abroad and undertaking forex cover operations in India and abroad.

The activities permitted by RBI are carried out only at the specific locations permitted by RBI. As an Authorized Dealer, we are a member of the Foreign Exchange Dealers Association of India.

Our Company provides the foreign exchange and payment solutions for:

Individual travelers

§ Foreign exchange for leisure outbound travelers

§ Foreign Exchange for migration, employment, medical treatment

§ Remittances for students studying abroad, gift remittances etc

§ Encashment services & inward remittances for inbound tourists visiting India, Non Resident / Resident Indians.


§ Travel money and remittances for business travelers.

§ On site support for inbound tour conferences.

§ Film production houses traveling for shoots abroad.

§ Remittances of tour proceeds for tour operators.


§ Bulk purchases and sales of foreign currencies from Banks, Non Bank Retailers and Money Changers.

Our business model revolves around leveraging its position as an Authorized Dealer with systems, ability and experience of handling large volumes of forex transactions for both wholesale and retail customers in a highly cost-efficient manner.

5.1. Network

The strong network enables TCIL to attract large wholesale clients such as public and private sector banks, FFMC's and RMC's to use our services. TCIL has a strong network of approximately 160 offices in 55 cities and 100 RMCs & Hotel Franchisee.

The Company has foreign exchange counters at the international airports of Mumbai, New Delhi, Kolkata, Chennai, Cochin and Trivandrum which are open 24 hours and 365 days a year to cater to the needs of the international travelers. It also has a round-the clock Foreign Exchange counter at the New Delhi Railway Station.

5.2 Foreign Exchange: Products and Services

As an Authorised Dealer, our services includes wholesale and retail purchase and sale of currency notes, Purchase and Sale of Traveller Cheques ("TC"), pre paid international cards, inbound and outbound remittances and Money Transfers ("MT"). Some of our products and services are:

5.2.1 Currencies and Travellers Cheques

Currency notes

Thomas Cook deals in 26 major destination currencies of the world. A customer generally prefers to buy cash in the destination currency as he gets benefited in the exchange conversion rates. Thomas cook is also an exporter, importer and dealer in bulk operations. We have the privilege of importing the currency required for requirements in bulk (eg. Haj operations) on specific occasions which differentiate Thomas Cook from others. Thomas Cook is the largest bulk note consolidators and the largest exporter/importer of currency notes. We are the members of VISA and SWIFT. We have tie ups with almost all the private and public sector banks across India for the purchase of the currency notes and Travellers cheques. We also have tie ups with many foreign banks and hotels across India for currency notes pickup. Money changers and travel agents trust Thomas Cook for remitting their foreign currency to their suppliers abroad.

Travellers cheques

Thomas Cook sells Amercian Express brand of Travellers cheques. Traveller's cheques are one of the safest modes of carrying currency. Thomas Cook is one of the largest sellers of Amex Travellers cheques. Travellers Cheques are available in USD, GBP, EURO, AUD, CAD, and JPY. Thomas Cook offices in India are also a part of the refund network of Amex TC; which enables quick payout of refunds to Travellers in case of loss or theft. Traveller's cheques user guide

Encashment of Travellers Cheques


Request the presenter for all the travelers cheque that he would like to encash. Flip through them to ensure that they

  1. Bear the prominent security features,
  2. That the travelers cheques bear no obvious erasures,,
  3. That they all bear one signature i.e. the original signature and that none of them are in a blank condition

2. Follow the simple Watch and Compare Procedure i.e.:

a. Watch while the Travelers' Cheques are being countersigned. Look for the confidence with which the presenter is countersigning.

Compare the counter signature with the original signature on each travellers cheques. If the signatures are similar, you can safely encash the travelers cheques.

5.2.2 Leisure and Corporate Travel

Foreign Exchange for the Corporates and Business houses

We offer a wide range of products and services to the modern day business traveller which includes, currency notes in 26 destination currencies, Travellers Cheques in 6 currencies, Prepaid cards in 3 brands and 7 currencies. We also provide assistance and remittances on account of fees for participation in overseas conferences, international events, trade fairs and remittances for subscription and membership fees. In addition to our wide network of locations at high streets, we have presence at 8 international airport locations thus facilitating the business traveller 24/7. We also take care of the foreign exchange requirements of film production houses. We also offer a facility whereby a business house can remit their money through their EEFC accounts. We can also set up Implants and temporary counters at the request of the business houses if informed to us in advance for the special group tours or MICE.

Foreign Exchange for Leisure Travel

Individual Travellers who wish to travel abroad on leisure can get their destination currency. At Thomas Cook they can get a wide range of services on foreign exchange such as the guidance on types of currencies to take and a variety of products to choose from, be it prepaid card, Currency or Travellers cheques. We deliver the currency at the doorstep of the customer. A leisure traveller can also remit money through Thomas Cook for their hotel and logistics payments to their suppliers abroad. We also take back the unspent foreign exchange at premium rates.

5.2.3 U-Special

  • Thomas Cook (India) Ltd, India's leading integrated travel and travel related financial services Company has launched ‘Thomas Cook Wings Scholarship', a unique offer for students travelling abroad for further studies.
  • Thomas Cook Wings Scholarship is a once in a lifetime opportunity for students travelling overseas for further studies to avail of a lucky chance of winning a scholarship - One way free* air-ticket upto a maximum of Rs 35000.
  • To avail of this scholarship, the student will have to submit their 2 page university statement of purpose (SOP) at any Thomas Cook Branch in their city. 10 best SOP's will be short listed. There is also a newly introduced special VISA assistance for students, offering a smooth travel experience for all, catered by Thomas Cook.

5.2.4 Remittances

Thomas Cook will help you remit your monies out of India for various purposes.

Medical remittance

Patients can transfer the advance amount due towards Hospitals as T.T. into THOMAS COOK account and THOMAS COOK will make payment to the Hospitals in Indian Rupee within 48 Hours of receiving the T.T.

Payment to Crew wages

We have the capability of paying the requisite foreign exchange as crew wages to the Master of Ship for Crew Wages Disbursement.

Film shoots

Thomas Cook is the largest non banking institution which is catering to the film industries for their foreign exchange requirement.

  1. Speedy documentation as compared to the banks.
  2. For film shoots they require lagre amount which can be easily available even within the short notice to THOMAS COOK.
  3. A gamut of products available which is in the form TC's and prepaid cards.
  4. The amount can also be remitted to their respective foreign correspondent bank accounts if the same is provided and this remittance can be done within 24 hrs.

5.3 Edge Over Competitors

Thomas Cook (India) Ltd. has an Authorized Dealer Category II license granted by the Reserve Bank of India. Thus the company is

  • Member of Society of Worldwide Interbank Financial Telecommunications (SWIFT)
  • Authorized by the Reserve Bank of India to operate a Foreign Exchange Dealing Room
  • Authorized by the Reserve Bank of India to hold Nostro Accounts
  • Member of the Foreign Exchange Dealers Association of India (FEDAI).
  • Member of VISA International


Customer Acquisition

  • Attracting our customers for the first purchase
  • Growth: To increase the number of customers that purchase for the first time.

Customer Retention

  • Re- purchase: The customer returns and buys for the second time
  • Growth: To increase the number of customers that purchase from us regularly

Customer Extention

Additional, Supplementary purchases

Ø Our customers are regularly purchasing.

Ø We introduce products and services to our loyal customers different from original purchase.

Ø Once purchased, our goal is to retain them as customers for the extended products or services.

Growth: To increase the number of customers that purchase additional products.

7.1 Determinants of customer retention

Customer expectations versus delivered product:  When the customer expectations are too

high and the delivered product or service does not meet those expectations, the customer

will not repeat purchase.

Product uniqueness and suitability: The more different (or less substitutable) a product is,

the greater the retention rate. When a customer has access to almost identical products or

services, the probability of purchasing any particular one decreases significantly.

Ease of purchase: Some products and services are very difficult to find or purchase, which

hurts retention.

Customer Service: Clearly, customer service is an important factor in customer retention. In

some recent studies, customer service was the most important determinant of whether or

not a customer would defect from a firm. But defining customer service is not as easy for a

company to do as it may seem.  Customer service has many components, and many parts of

an organization provide it. Accounting provides customer service when it solves a customer's

billing problems, logistics handles customer service problems when the product is not

delivered, and engineering provides customer service when it shows a customer how to utilize

the equipment more efficiently or how to increase production-line speed through a

minor product modification. Customer service opportunities are pervasive in any organization.

8.0 Description Of Job

8.1 Learning about the major clients of Thomas Cook (India) Limited

Some of the major clients of Thomas Cook (India) Limited are:

SAIL: Steel Authority Of India Limited

BHEL: Bharat Heavy Electricals Limited.





These companies have overseas operations and they deal mainly in dollar, euro and pound. These companies deal with international companies for the import and export of various gooda and services and require foreign exchange for such purposes. Thomas Cook provides them with various lucrative offers like providing foreign exchange at a discounted rate to such companies.

8.2Generating leads of prospective clients based in Gurgaon:

Study of prospective clients:

The criteria for short listing the clients:

  • Indian companies having overseas operations
  • International companies having Indian operations
  • Hospitality sector

One of the main criteria for short listing the prospective clients is their annual quantum. It is the annual requirement of foreign exchange by any corporate.

8.3Ensuring the prospective client is not our existing clients

There is a defined list given in the corporate sales team by which on just entering the name of the company, it will show whether they are our existing customer or not. Before making the calls I had to sort the list to ensure we do not again target the existing client.

8.4Preparation of final list

Based upon the findings of the above stage, many companies were shortlisted. I was asked to prepare an excel sheet of these companies and collect data for these companies.

The data which I had to collect included the address and contact information of the company, the name of the finance head or the person who looks after the foreign exchange requirements in the company and the e-mail id of the concerned person so that the proposal that Thomas Cook is offering to them can be sent via e-mail.

8.5Telecalling and fixing meeting with the client

This was the work which I had to do every day. This stage involved calling the prospective clients, explaining them the proposal that Thomas Cook is offering them (Refer to annexure IV). I was also asked to enquire about the annual volume of foreign exchange required by the company. This was one of the criteria of short listing the companies. The company having an annual requirement of more than Rs. 50 lakhs was preferred by Thomas Cook.

After gathering all this information from the concerned person I tried to fix up meetings with them or get their e-mail id so that the proposal can be sent to them via e-mail.

I was also given a list of people who were travelling abroad and I was asked to call them and ask whether they require foreign currency of the country they were travelling to.

This becomes a very challenging task as the concerned person is at such designation representing the corporate that he/she is unwilling to talk or has no time

8.6 Meeting the concerned person

Once the meeting has been fixed, we meet the concerned person and try to know about his major requirements. We tell him about our proposal and also about the other products of Thomas Cook like the rates at which we can provide them with the required currency. We also tell them about the prepaid card that is another product of Thomas Cook.

Refer to annexure III

8.7 Documentation

If the client is interested in the proposal, he is required to fill up the Know Your Client (KYC) form and a copy of Memorandum of Articles (MOA) and Pan Card are to be submitted by the client.

Refer to annexure II

8.8    Relationship Building: It is not only important to get the client on board with Thomas Cook, but it is very necessary to build up a relation with the client from the long term perspective.

8.9 Key Pipeline Accounts

Corporates (COC)

NSA (Non stock agents)


(Restricted money changers)

Ernst & Young

Indo Asia Tours

West in Hotels

Li & Fung

Leaseplan Travels

Fortune Inn


STIC Travels





8.10 Major Wins




Educational Consultants


Columbia Asia


& Destination

West Wings


Jai Travels



Yatra (Revival)




And 31 more



During my training, I got a chance to study about the determination of the exchange rates that is, the buying and selling rates of various currencies.

ADR: Average Debit Rate

ADR is the rate at which Thomas Cook buys foreign currencies from the customers. This rate is generally kept lower than the IBR. IBR is the inter bank rate or the card rate.

ACR: Average Credit Rate

ACR is the rate at which Thomas Cook sells foreign currencies from its customers. The rate of ACR is more than the actual rate that is the card rate.

IBR is the break even rate that is, no profit no loss rate.

The ADR and ACR keep on changing on a daily basis depending upon the changes in the card rate of the currencies.

Calculation of the ADR and ACR of the 3 major currencies:




US Dollar

IBR- 10 paisa

IBR + 10 paisa


IBR- 15 paisa

IBR + 15 paisa


IBR- 20 paisa

IBR + 20 paisa

For example:

The IBR of US$ is 44.53, then the ADR will be 44.43 and the ACR will be 44.63.


Importance of questionnaire

When information is to be collected by asking questions to people who may have the desired data, a standardized form called questionnaire is prepared which helps to bring the data as such required for the research work. The questionnaire is a list of questions to be asked to the respondents. Each question is worded exactly as it is to be asked & the questions are listed in established sequence. Spaces in which to record answers are provided in questionnaire.

Thus in this study questionnaire is used for data collection  

Objective Of survey

The objective of the survey is to obtain employee opinion on various issues of concern related to the job and the organisation. The questionnaire is divided into 2 sections:

SECTION A - Organisational Survey

This section consists of statements. You are requested tick mark the correct option.

SECTION B - Descriptive Questions

This section contains three open-ended questions, to ascertain employee opinions and views on the organization.

Sample Size: 40

Target Audience: Employees of Thomas Cook (India) Limited (Foreign Exchange)

Questionnaire: Refer to annexure I

10.1 Interpretations of the survey conducted

1. For how long have you been working with Thomas cook.

Interpretation: 70% of the employees have been working for more than 3 yrs. Only 5 % joined the company recently.

2. Thomas cook as a company is better than your previous company.

Interpretation: 75 % of the employees think that the company is better than their previous company in terms of majority of the aspects.

3. There is a healthy work environment prevailing in the company.

Interpretation: 75 % of the total employees were of the opinion that the company maintains a healthy work environment, the company needs to address this issue and find out a solution for remaining employees.

4. My area of responsibility is clear to me.

Interpretation: 90% of the employees surveyed made it clear that prior to joining the company ,their job profile was made clear to them and were regularly updated with the changes if any.

5. The company's workplace is hygienic

Interpretation: Almost all the employees are of the opinion that the company maintains a healthy working place.

6. I think the company is offering competitive salary packages as compared to other companies in the market

Interpretations: 70 % of the surveyed employees think that the company is offering decent salary to the employees. The company needs to follow the other players in the market in this aspect to retain its intellectual capital.

7. I have got enough relevant training for my present job.

Interpretations: 85 % of the employees think that the company has equipped them with the proper skillsets before assigning them works and their job in the company

8. I am satisfied with the job opportunities in the company.

Interpretations: 75 % of the employees think that the company has better job opportunities for them and continuing in the company will enhance their profile and personality.

9. Work is fairly distributed in my work group

Interpretation: 80 % of the employees think that the work is equally distributed by their boss among the team members. Company needs to look into this issue and bring out a solution to this

10. I am satisfied with the company's employee welfare programs such as  rewards, incentives, food coupons, insurance and health care, etc.

Interpretations: 90% of the employees think that the company is providing additional facilities to them .


Should try and enter the untapped areas

Thomas Cook (India) Limited should try and enter the untapped markets to get the first mover advantage. Working with the corporate sales team closely, I realized that there is still a lot of potential in Gurgaon and many part of Delhi, Faridabad, Manesar which still has not been tapped and thus the immediate task is to reach the prospective clients in these areas.

Should give priority to service issues

As we know in any business to outperform the competitors we need to prove the best possible after sale services. Since almost every other company is offering the same product, we can differentiate from others on the basis of After Sales Services. It has been my personal experience with the companies saying that if you promise me good services I am ready to give you good business, so being a famous brand Thomas Cook needs to get more comfort to the investors regarding this and try and avoid any lapse.

Aggressive advertisements

Thomas Cook needs to be more aggressive on advertisements as compared to its competitors. Advertisement should be important as this helps to get the recall value as well as it helps the distributor to sell the fund with ease customer has already seen the advertisement as is aware  that the fund is available in the market.

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