Why Integrated Tech Is the Key to Smarter, More Efficient Business Travel

Why Integrated Tech Is the Key to Smarter, More Efficient Business Travel

Corporate travel is no longer just about getting from one place to another—it’s a complex web of coordination, compliance, and cost control. Integrated solutions like myBiz are revolutionizing corporate travel, allowing businesses to streamline operations, enhance efficiency, and create seamless travel experiences.

Imagine this scenario: you have a meeting in Mumbai, your colleague is flying to Singapore, and the finance team is inundated with reimbursement requests. It’s a logistical juggling act that businesses of all sizes face regularly. Traditionally, corporate travel has relied on fragmented systems and manual processes, with employees collecting receipts, tracking expenses, and reconciling invoices. This outdated approach leads to inefficiencies and unnecessary costs.

However, the landscape is evolving. A recent Deloitte report indicates that corporate travel managers are increasingly adopting all-in-one solutions for travel management, incorporating features like GST reconciliation, real-time reporting, and self-booking tools. This is where myBiz, a SaaS-based platform by MakeMyTrip, makes a significant impact. Introduced in 2019, myBiz simplifies corporate travel management by offering an intuitive platform for booking, invoicing, and expense tracking. Its integration with over 30 HRMS platforms enables real-time syncing of employee data, transforming business travel into a seamless, tech-driven process.

Meeting the Expectations of a Modern Workforce

Today’s employees expect more than just a basic booking system; they demand a frictionless, personalized travel experience. From priority check-ins to enhanced safety measures, corporate travelers seek efficiency and convenience. Companies that fail to address these expectations risk decreased employee engagement and productivity.

myBiz addresses these challenges through a plug-and-play integration system that connects HR, travel, and expense management seamlessly. Businesses can sync employee data in real time, reducing errors and administrative overhead. Employees can independently book their business trips, while finance teams benefit from automated reporting and real-time compliance checks, ensuring a streamlined and transparent process.

Smart Travel with Data-Driven Insights

Travel expenses constitute a significant portion of an organization’s operational budget. The Deloitte report, analyzing the top 100 listed companies, found that one IT giant alone incurred travel expenses exceeding Rs 2,600 crore in FY23. For businesses of all sizes, managing travel costs efficiently is crucial.

myBiz provides advanced analytics and reporting tools that offer valuable insights into travel spending patterns. By capturing and analyzing data, companies can optimize costs, ensure policy compliance, and make informed, data-driven decisions. Its self-booking tools allow real-time reservations for flights, hotels, and rail, leading to a 2–3% cost reduction on managed travel services. Additionally, tailored travel policies, integrated expense management, and detailed audit trails help streamline workflows, driving greater efficiency and cost savings.

Ensuring Compliance and Future-Readiness

One of the most significant pain points for finance teams is GST reconciliation. The Deloitte report highlights that a company spending Rs 1 crore on hotels could be eligible for Rs 14 lakhs in GST input credit. However, many businesses claim far less, often just Rs 3 lakhs, due to inefficiencies in tracking and reporting.

With myBiz’s GST reconciliation feature, businesses can ensure accurate invoicing with GST inclusion, leading to substantial cost savings. The days of relying on disjointed travel management systems are fading. Companies that continue to use disconnected solutions will face mounting inefficiencies and dissatisfied employees. The future of corporate travel management lies in smart, integrated technology that adapts to company and employee needs, providing real-time expense tracking, automated reporting, and self-service booking tools.

Solutions like myBiz empower employees, reduce operational burdens, and help businesses make smarter financial decisions. The question isn’t whether your company can afford to invest in such a solution—it’s whether it can afford not to.