Two decades ago Advantage was known as the National Association of Independent Travel Agents and had a membership of 100, 8 members of staff and communicated by phone and letter in a time when email was almost unheard of.

Clearly, technology has had a major influence on our working lives, but rather than reflect on the past, what if we looked forward? Understanding how customer expectations will shape the future of our industry will assist us in ensuring we remain relevant. Future-proofing a business when there are so many unknown factors is difficult, but it is important that as business leaders we take time out to understand what challenges and opportunities are on the horizon.

There are a number of areas that we need to consider today. The first is investing in new skills and talent. Customers are expecting something different but if we are always recruiting in the same way, for the same skills – how will we know how to stay relevant and innovative? We are experiencing a fundamental generational change and we need to be prepared.

I recognise that the development of effective technology may require significant investment but it should be recognised as a major investment in future-proofing your business. systems and marketing tools.

Data – we need lots of it and we need it now! Underestimate the power of data at your peril, businesses are prepared to pay handsomely for access to good quality information, but we need to better interpret what the information is saying to us and how to use it. However, one of the risks associated with improving the amount of customer data that we capture is a threat to the security of that data.

Security will continue to be a threat to every business, particularly with those firms that operate online. However, this also brings with it an opportunity for the high street, where the opportunity to deal face-to-face with customers has distinct benefits. We now also operate in an globalised marketplace, so we must consider how we will trade in the future with partners outside the UK. What factors will impact upon their ability to trade with us moving forward and the way we use technology to manage those relationships?

I am concerned we are seeing regulation and legislation becoming more onerous; ensuring we all receive the right advice and support to enable intelligent decision making in an ever complex world is critical.

So 20 years have passed, Advantage now has more than 700 outlets including a managed service operation. We offer consultancy advice and support ensuring our members continue to prosper for another 20 years and our investment in technology will ensure we can deliver all of these services in a dynamic environment.

Julia Lo Bue-Said is managing director of The Advantage Travel Partnership