What Panasoft does

Panasoft P.C. is a privately held Greek software company founded in 1997 that develops mid- and back-office automation software exclusively for the travel and mobility industry. The company's core platform, TravelForce, is built on Microsoft technologies and operates on-premise or in the cloud, serving travel agencies, tour operators, corporate travel management companies (TMCs), airlines, and congress organizers. Flagship products include TravelForce ATLAS (mid/back-office for travel agencies and tour operators) and TravelForce Cosmos (enterprise ERP for TMCs with multi-company, multi-currency, and multi-GDS support), supported by a modular ecosystem including e-Invoicing (with ENTERSOFT-SOFTONE integration), BI/Reporting, PAX2Pay travel-native payments, TPConnects/Iris NDC content aggregation, SKY express Interface, Sabre Red Apps (Cosmos Red, SARA, Quality Guardian Web Scripting), and myDATA real-time AADE VAT reporting. The company holds 86% BSP market share in Greece and 55% in Cyprus and is a Top 3 Sabre EMEA partner worldwide, with 900+ installations across 12+ countries.

Panasoft monetizes primarily through subscription-based per-user software licensing (e.g., Quality Guardian at €3.75-€6/user/month with volume discounts), quote-based enterprise subscriptions for the broader TravelForce suite, and professional services for implementation, configuration, training, and ongoing support. The go-to-market combines direct enterprise sales with a strong channel/partner ecosystem spanning GDS providers (Amadeus, Sabre, Galileo/Travelport, Farelogix), XML suppliers, ferry distributors (LIKNOSS, Minoan Lines), payment gateways, and technology partners (Microsoft, Embarcadero, ENTERSOFTONE, TRES Technologies). R&D is partly co-financed through EU programs, including the €604,240 W-TRIP tourism intelligence platform and the €531,018 TRAVEL FORCE Web ERP project.

The company is founder-controlled with no disclosed institutional investment, led by Senior Partner Romanos Sakellaropoulos and Managing Partner John Kritis. Headcount is approximately 35 professionals split across software engineering, support/implementation, IT, QA, sales/marketing, and finance. Operating geographies include Greece (Athens HQ), Cyprus (Nicosia), Bahrain (regional HQ for Middle East), and selected European markets (Germany, Italy, UK, Romania).

Name

Panasoft

Legal name

Panasoft P.C.

Website

https://panasoft.gr

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Panasoft P.C. is a Greek software company founded in 1997 that develops mid- and back-office automation software exclusively for the travel industry, serving travel agencies, tour operators, TMCs, and airlines across 12+ countries with 900+ installations.

Ownership category

akta.pro rank

Product category

Travel Industry Software Solutions

NAICS

Software Publishers (51321), All Other Travel Arrangement and Reservation Services (561599)

akta.pro primary industry

Agency CRM, Sales Automation & Client Servicing (THALAGAB)

akta.pro secondary industries

Integrations, APIs & Automation (Middleware/iPaaS) (THALAMAN), Enterprise OBTs (Complex Policy, Multi-Entity, Global) (THACABAC)

Keywords

• Travel software solutions
• Travel agency automation
• Corporate travel management
• GDS integration services
• Travel industry compliance

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Licensing (Per User): Subscription-based software licensing charged per authorized user per month. Quality Guardian Web Scripting at €6.00/user/month for 1-50 users, with volume discounts down to €3.75/user/month for 301+ users. Setup and training fees separate.
2. Software Subscriptions: Complete suite of products including ATLAS, COSMOS, Red Apps, BI/Reporting, e-Invoicing, TPConnects/Iris, PAX2Pay, and SKY express Interface. Pricing not publicly disclosed, quote-based enterprise pricing.
3. Implementation Services: Implementation, configuration, migration, training, and ongoing support services. Typical implementation timeline 10-15 working days with 100% success rate. Cloud hosting and SLA services included.
4. EU Funded Projects: Digital transformation projects co-financed by EU programs. TRAVEL FORCE Web ERP project: €531,018.19 budget with €254,921.58 EU funding. W-TRIP platform: €604,240 budget with €395,003 EU funding.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Panasoft develops and sells the TravelForce platform ecosystem, an integrated mid/back-office software suite for the travel industry. Its flagship offerings include TravelForce ATLAS (mid/back-office for travel agencies, tour operators, and corporate travel companies) and TravelForce Cosmos (enterprise ERP for corporate TMCs), complemented by modules for e-invoicing, BI/reporting, NDC/GDS content aggregation (TPConnects/Iris), travel payments (PAX2Pay), airline integration (SKY express), Sabre Red Apps, and real-time VAT reporting (myDATA). The company also delivers implementation, training, and support services.

Product overview

Panasoft is a travel technology company offering an integrated ecosystem of software solutions for the travel industry since 1997. The core product portfolio centers on TravelForce ATLAS (mid/back-office for travel agencies, tour operators, corporate travel companies) and TravelForce Cosmos (enterprise ERP for TMCs). These platforms provide end-to-end automation from booking through accounting, reporting, and compliance. The ecosystem includes specialized modules: e-Invoicing (EU-compliant electronic invoicing via ENTERSOFT-SOFTONE), BI/Reporting (advanced analytics and dashboards), TPConnects/Iris (NDC/GDS/LCC content aggregation with 200+ airlines), PAX2PAY (travel-native payments with 99% supplier acceptance), SKY express Interface (airline booking integration), Red Apps (Sabre Red Workspace automation including Cosmos Red, SARA, and Quality Guardian Web Scripting), and myDATA Module (real-time VAT reporting to AADE). The company is also developing W-TRIP (AI-powered tourism intelligence platform using neural networks) as a funded R&D initiative. With 900+ installations across 12+ countries, Panasoft serves airlines, travel agencies, tour operators, TMCs, and congress organizers.

Differentiator

Problem solved

Functional benefit

Brands

• TravelForce: Main product brand encompassing ATLAS and COSMOS mid/back office solutions for travel agencies, tour operators, and airlines.
• Pax2Pay
• Quality Guardian
• Cosmos Red
• SARA

Products and services

• TravelForce ATLAS Complete mid and back-office automation platform for travel agencies, tour operators, corporate travel companies, and congress organizers. Features accounting, reconciliation, reporting, myDATA compliance, e-invoicing, automatic GDS imports, XML integrations, BSP Cross Check, profitability control, and automations including mass invoicing, reconciliation, and custom reports.
• TravelForce Cosmos Enterprise mid-back office ERP suite for Corporate Travel Management Companies (TMCs) requiring control, automation, and scalability. Supports multi-company, multi-branch, multi-currency, multi-language, and multi-GDS operations, combining mid office, back office, and accounting in a unified real-time environment with client and supplier intelligence and CRM functions.
• e-Invoicing Module Fully compliant electronic invoicing solution enabling real-time VAT reporting and seamless regulatory alignment across European frameworks. Integrated with ENTERSOFT-SOFTONE for ERP connectivity, eliminating manual processes and accelerating the invoice lifecycle.
• BI / Reporting Advanced Business Intelligence and Reporting platform for tourism professionals providing interactive dashboards with drill-down analysis, real-time analytics, custom reports, KPI monitoring, data visualization, and automated export and distribution. Integrates seamlessly with TravelForce ATLAS.
• TPConnects / Iris Air content aggregation platform providing unified access to NDC, GDS, and Low-Cost Carrier (LCC) content through a single environment for shopping, booking, and servicing. Offers faster shopping via Light Shopping API, access to 200+ airlines worldwide, private and negotiated fares, smart pricing and commission management. Official distribution for Greece and Cyprus, with bookings automatically synchronized to Panasoft back-office systems.
• PAX2PAY Travel-native digital payments platform fully integrated with Panasoft systems. Features 99% supplier acceptance, virtual cards per transaction, funding on authorization, optimized cash flow, multi-currency settlement, and automated reconciliation eliminating reconciliation errors.
• SKY express Interface Automated airline booking integration with SKY express, natively embedded into the TRAVEL FORCE ecosystem. Bookings created in SKY express platform are automatically recorded in TRAVEL FORCE, eliminating manual entry with automatic financial data update and unified flight reporting.
• Red Apps Suite (Cosmos Red and SARA) Suite of Sabre Red Apps for enhanced productivity and automation in GDS environments. Includes Cosmos Red and SARA for PNR quality control, workflow automation, agent error reduction, credit risk control, correct invoicing and reporting, service fee automation, and policy-based booking enforcement.
• Quality Guardian Web Scripting

Quantifiable outcome

• Up to 80% reduction in reconciliation time through BSP Cross Check automation
• +3 more outcomes

Named customers23 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration23 records

AI capability9 records

Feature10 records

Partnerships

17 partnerships are on record, tiered core, strategic and minor.

• TPConnects TechnologiescoreChannel Partner/ Reseller/ Distributor · 12 February 2026Official distributor of TPConnects Iris for Greece and Cyprus. Strategic partnership bringing NDC-enabled airline content and modern retailing capabilities for travel sellers. Bookings automatically synchronized with Panasoft back-office systems with no manual intervention. Announced February 2026.
• ENTERSOFTONEcoreTechnology or Integration · 1 January 2024Strategic e-Invoicing collaboration providing seamless connectivity with leading ERP and financial platforms. Enables real-time VAT reporting and seamless regulatory alignment across European frameworks.
• SabrecoreTechnology or Integration · 1 January 2012Certified Sabre Red App developer. Red Apps Suite including Cosmos Red and SARA for enhanced productivity and automation in GDS environments. Top 3 worldwide Sabre EMEA Agreement partner.
• AmadeuscoreTechnology or IntegrationGlobal technology partner for travel distribution and IT solutions. Major GDS integration partner providing airline content and booking capabilities.
• MicrosoftstrategicTechnology or IntegrationMicrosoft Partner with highest level of competence in Microsoft technologies, top 1% of partners worldwide. Cloud infrastructure, security, and scalability for enterprise workloads.
• PAX2PaycoreTechnology or IntegrationSpecialized travel payments, virtual cards, and automated reconciliation. Purpose-built travel payments platform with 99% supplier acceptance, fully integrated with Panasoft back-office systems.
• EmbarcaderostrategicTechnology or IntegrationSoftware development tools for cross-platform application development. Provides development tools for building critical Panasoft applications.
• TRES TechnologiesstrategicTechnology or IntegrationPNR Integration Red App development partnership. Innovative technology solutions for business process optimization.
• HATTAminorOthersActive participation in the Greek travel ecosystem and industry initiatives.
• Galileo / TravelportcoreTechnology or IntegrationComputer reservation system enabling travel providers to shop, compare and book travel. GDS partner providing global distribution coverage.
• LIKNOSScoreTechnology or IntegrationLeader in ferry ticket distribution across Europe with advanced GDS technology. Enables ferry booking integration.
• FarelogixcoreTechnology or IntegrationAirline retailing and distribution technology provider. Founded in 1998, evolved from fares and contract systems to global airline distribution.
• SKY expresscoreTechnology or IntegrationGreek airline partnership for seamless booking integration. Automated airline booking integration natively embedded into TRAVEL FORCE ecosystem.
• Minoan LinescoreTechnology or IntegrationLeading Greek ferry company connecting Greece with Italy and the Greek islands. Ferry ticket distribution and cross-check capabilities.
• CERTUSstrategicTechnology or IntegrationOnline booking and reservation management platform for travel professionals.
• TBO.comstrategicTechnology or IntegrationGlobal B2B travel distribution platform with comprehensive inventory. XML supplier partnership.
• EntradastrategicTechnology or IntegrationInternet software solutions and online services provider for travel businesses. XML supplier partnership.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Emerging players

• Nezasa: Travel-tech company offering itinerary management and trip-booking platforms. Partial overlap with Panasoft's broader ecosystem (itinerary/trip collaboration adjacent to TravelForce modules), serving travel agencies and tour operators with modern SaaS tooling.
• TPConnects Technologies: NDC aggregator and airline-retailing platform whose Iris product Panasoft distributes for Greece and Cyprus. Comparable because TPConnects also serves travel agencies via content aggregation, and its product roadmap partially overlaps with Panasoft's TPConnects/Iris module.

Direct peers

• Tramada (now part of CWT): TMC-focused mid/back-office platform historically serving corporate travel management companies (TMCs). Closely comparable to TravelForce Cosmos for TMCs — multi-company, multi-currency, policy-driven booking and reconciliation.
• Traveltek: UK-based mid/back-office and booking platform for travel agents and tour operators. Most direct regional back-office peer to Panasoft's TravelForce ATLAS — similar customer base (travel agencies, tour operators), similar mid/back-office + GDS integration model.
• Tavisca Solutions: India-based travel technology company offering booking engines, mid/back-office, and distribution APIs for travel suppliers and OTAs. Overlaps with Panasoft's back-office and API/integration scope, particularly across XML supplier integration.
• Illusions Online: India-headquartered mid/back-office software provider for travel agencies and tour operators. Directly comparable to TravelForce ATLAS in scope — automated reconciliation, BSP handling, multi-currency, and tour-operators module.
• Dolphin Dynamics: UK provider of back-office, mid-office, and CRM software for travel agents and tour operators. Closely comparable product scope to TravelForce ATLAS, with overlapping customers in SME-to-mid-market travel agencies.

Broad incumbents

• Sabre Corporation: Global GDS and travel technology incumbent. Panasoft is a Top 3 Sabre EMEA Red App partner and integrates deeply with Sabre's GDS/Red Workspace ecosystem, making Sabre both a critical partner and the broadest competitive reference point in the space.
• Travelport (now part of Amex GBT): Global GDS operator and travel-tech provider. Panasoft maintains Galileo/Travelport integration as one of its core GDS partnerships; Travelport is also a competitive reference point for agency back-office and corporate travel tooling.
• Amadeus IT Group: Global GDS and travel technology incumbent. Panasoft lists Amadeus as a global GDS integration partner and Amadeus also offers its own mid/back-office and corporate-travel tooling, making it the closest broad incumbent competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panasoft