In a world where the demands of business travel continue to evolve, the need for innovative solutions that cater to the diverse requirements of large and small organisations has never been more pressing. Amid this shifting landscape, myBiz by MakeMyTrip emerges as a beacon of transformation in corporate travel. This comprehensive business travel management platform is a SaaS solution which not only adapts to the unique needs of mid-sized and small enterprises but also paves the way for a tech-driven paradigm shift that promises efficiency, transparency, and unmatched savings.
Transforming Business Travel With myBiz
In today’s dynamic business environment, where every minute and every penny counts, how organisations manage their travel needs can make all the difference. That’s where myBiz by MakeMyTrip steps in with a comprehensive suite of solutions that transcends conventional travel management. myBiz doesn’t just offer another travel solution; it introduces a tech-driven approach that reshapes the entire landscape.
“At the heart of myBiz’s transformational journey lies a commitment to state-of-the-art features and groundbreaking advantages. What sets myBiz apart is its ability to cater to organisations across segments, regardless of size, effectively addressing the demands of both conglomerates and the unique challenges SMEs face,” said Raj Rishi Singh, Chief Marketing Officer and Chief Business Officer - Corporate.
Meanwhile, Rajesh Magow, Co-Founder and Group CEO, added, “Our corporate travel solution innovates by offering a refreshing user interface for easy booking and a tech-driven, automated experience. It covers flights, cabs, hotels, and international services, serving individual travellers and large organisations’ central bookers. Additionally, it provides robust reporting and dashboard features, simplifying corporate travel seamlessly.”
Efficiency Amplified For Larger Enterprises
Larger enterprises often grapple with intricate and opaque manual booking processes, a challenge that myBiz confronts head-on. “Employees are empowered to make seamless bookings within minutes, placing traveller comfort and convenience at the forefront, all while ensuring that administrative control remains firmly within the organisation’s grasp,” added Singh.
“For small and mid-sized enterprises (SMEs), navigating the world of business travel can be particularly challenging due to limited resources and tight budgets. myBiz’s ability to empower SMEs without establishing complex travel frameworks distinguishes it. It eliminates the necessity for dedicated teams to set up travel policies or manage intricate GST inputs, providing a comprehensive travel management solution designed to unburden SMEs,” he further explained.
In addition, mentioning the need for a product like myBiz in the market, Magow mentioned that earlier innovation was scarce in the market, where conventional offline or hybrid solutions prevailed. “We aimed to be the voice of change, introducing a 100% automated and online solution empowered by technology. The lack of innovation was striking; while products and B2C offerings flourished, this sector remained stagnant. We recognised an untapped opportunity to lead with a new, innovative product. Our vision encompassed a user-friendly front end backed by cutting-edge technology, offering transparency through robust dashboards and an extensive selection. This contrasted sharply with the opaque conventional tools.”
Corporate-Grade Benefits For All
Historically, corporate benefits like advance bookings and adept price negotiation have been the exclusive domain of large corporations. myBiz changes this by extending these benefits to SMEs. The allure of myBiz’s corporate assured fares, coupled with a seamless GST processing system, provides SMEs with unprecedented access to exclusive privileges, effectively levelling the playing field in business travel.
Furthermore, in the intricate landscape of business travel, myBiz has emerged as a key player and a transformative force. Its influence is demonstrated by its significant market share across diverse segments, underscoring its unparalleled value proposition in the business travel industry.
Navigating The Organised Realm
Even among organised enterprises, myBiz has made a significant impact, despite being a relatively late entrant into the B2B space. In just four years, it has carved out an impressive niche, becoming a market leader in a short time. This showcases its capacity to compete effectively with established competitors, offering a transformative travel solution tailored to the needs of this segment.
“Among large-size companies, where many fall within the organised category, myBiz shines brightly, accounting for an impressive 16% of the business. This achievement underscores myBiz’s ability to meet and exceed the expectations of larger enterprises, setting a new benchmark for streamlined and efficient travel management,” Singh highlighted.
SMEs - A Fragmented Landscape Transformed
Addressing the Unique Needs of SMEs “The SME sector presents a unique challenge due to its fragmented nature, with only 10 per cent being organised. Nevertheless, myBiz has surged ahead, capturing a substantial portion of the business within this segment. This remarkable accomplishment reflects myBiz’s unwavering commitment to addressing the distinct needs of SMEs and providing them with an unmatched travel solution,” according to Raj Rishi Singh.
Finally, discussing the market opportunity, Magow remarked, “In the corporate travel landscape, around 30 per cent of the pie is dedicated to business travel, with a significant portion managed by various entities. While some business travel naturally occurs on our platform, a substantial portion is managed. This managed travel segment is divided between large corporations and small to medium enterprises. We aim to capture a share of this fragmented 30 per cent market, leveraging our tech-driven product.”
In the ever-evolving world of business travel, myBiz is at the forefront of change, offering a comprehensive, tech-driven, and inclusive solution for organisations of all sizes. It has successfully captured market share and continues to innovate, making business travel more efficient and cost-effective for everyone.