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Tap business travel through professionalism

June 26, 2013 Corporate, Headline News No Comments Email Email

egtmedia59Adopting technology, transparency and consolidation are the ways forward for tapping growing business travel according expert speakers at ATPI Business Travel Forum 2013 held in Mumbai last week.

Gaurav Sundaram, Country Director, Egencia India, said: “Young (corporate) workforce is going virtual and expects choice and flexibility. Mobile technology is the future. Travel Policies have gone more conservative. Travel is more of a necessity now and the customer is looking for value in cost and service. Dynamic travel policy management reduces costs through advance purchases as only 20 percent of travel happens on urgent basis with little advance (knowledge)”.Bussiness Travel Forum 2013, Mumbai

70 percent of Asia Pacific companies with travel management program are enforcing advance purchase amongst travelers.

According to Global Business Travel Association (GBTA), business travellers worldwide are expected to spend $1.16 trillion on airfare and accommodations in 2013. This is up by over 8 % from $1.07 trillion in 2012. Current growth in business travel is majorly driven by developing nations such as China, India, and Brazil.

Indian corporate travel market is estimated at $ 20.8 billion with a compound annual growth rate of 10.8% for the period of 2010-2015.

Sanjay Pai, Head-Travel & Aviation, Larson & Toubro said: “India is yet to have a transparent, competitive model. Technology translation has not still happened here. A meta search engine is necessary to do this.”

Gaurav Sundaram, Country Director, Egencia India.

Gaurav Sundaram, Country Director, Egencia India.

Peter Muller, Chief Operating Officer, ATPI said: “These are challenging times for world economy. Cost minimization, raising standards for higher benchmarks and stringent compliance are a necessity. TMC (Travel Management Company) relationship with corporate companies is changing for long term contracts rather than being just a vendor.”

There’s huge demand for data, analysis and logical answers. Savings, reporting and technology are paramount alongside corporate governance, risk management and management of corporate social responsibility.

Security and tracking has become a necessity due to rise in natural calamities and terrorist strikes.

Muller said: “Partnering with a global TMC will help in supplier negotiation, quality control and give access to databases for lowest logical global fare.”

Written by : Anand & Madhura Katti

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