'Advance Dataanalytics Can Help Companies See Hidden Opportunities In Travel Spend'

Business travel bookings in India is undergoing transformational changes. Balaji Ramakrishnan, founder and CEO, Insteract Technologies, highlights the benefits of his cloud-based travel platform using advanced data analytics.

- Sudipta Dev

How is corporate travel spending changing in India with the implementation of cutting-edge technology?

Technology adoption varies between companies. It depends on the type of travel policy they use to manage their cost. Use of technology in India to manage business travel is still low compared to other markets. Most business still insist on some form of human intervention to buy travel. While some companies have a central desk that uses booking tools, many still use email as their preferred way of managing travel. Regardless of how the process is managed, companies use new tools to keep their cost down and have a better control over the options they book. Companies use the internet to benchmark their options before they make a decision to approve the trip. Also, some companies use benchmarking tools to derive the cost of the trip to achieve more savings and forecasting. Another area, where companies use technology is to simplify and automate the expense process. Expense tools help companies reduce their cost of managing travel and increase transparency. Communication with traveller has improved using tools like chatbot and messenger services. This has allowed companies to manage safety concerns and offer support to travellers while they're on travel.

What services and products do you offer in corporate travel space ?