Corporate travel in India growing at an unprecedented rate is estimated to cross $40 billion marks by next year. Technology has a very important role to play in this context. It offers enhanced customer access and opens new doors for business development.
A recent study indicated that the confidence of management on travel policy compliance by employees is at an all-time low as employees are increasingly finding novel ways of circumventing the system in place to accommodate their personal preferences. The dependency on human involvement in this context can make way for technological intervention by way of Self-Booking Tool.
In another recent survey by a leading corporate travel service provider, when business travelers were asked about the biggest demerit with their existing company travel policy, more than 40% said it was the requirement that they book their trip via a company-provided tool. So, we need a customized solution with the end-user focus to bridge this gap. In comparison to the conventional way of travel management, SBT will offer enhanced cost control, the higher degree of policy compliance and improved scope of savings on various aspects of travel management. In this context, our extra value savings tool TrackMyTkt tracks flight fares on already booked flights and enables savings for corporates by working with TMCs on rebooking the tickets and canceling the old ones.
Another major upside of having SBT for booking tickets is transparency and comfort to the traveler as it allows them to book/suggest as per their convenience which falls under the policy guidelines. Stated below are some additional reason which reinforces the merits of having customizable SBT solution for corporates who are looking to revamp their travel management process:
- Similar to any DIY solution, SBT allows the traveler to conveniently book tickets anytime, anywhere without any hassle
- The customizable solution offers technological integration with other in-house systems, ex. ERP, MIS etc.
- Travel analysis allows the system to make smarter recommendations based on travel preferences
To stay at par in the current competitive landscape, corporates adopting SBT is inevitable. The traveler is embracing the technological improvements in every other aspect of travel, right from the online cab and hotel booking to expense management mobile applications. On top of this, to drive continuous adoption and better user experience, the focus is on the TMCs as well to imbibe the learning from the travel lifecycle for designing the SBT that meets the expectations.
There are no limitations around the Self-Booking tool. What remains to be seen is how it shapes up to meet the market demand for the same, keeping the traveler at the center of it, thereby empowering them to make the right decision and support when needed within the limits as dictated by the company travel policy.