Nasdaq listed MakeMyTrip, India’s biggest online travel agency (OTA) is entering the growing corporate travel segment with a new product called MMT MyBusiness. The new business is aimed at capturing the majority of the SME corporate travel segment in the country.
Rajesh Magow, Co-Founder and CEO of MakeMyTrip said MyBusiness will work on the lines of Uber for business and will work as a self-booking tool that employees can use from the same MakeMyTrip app for their business travel needs.
He said instead of reaching out to companies directly, the company is tapping its existing MakeMyTrip active users for MyBusiness to propagate it in their companies and amongst their officals.
MakeMyTrip will focus on SMEs for growing the segment and around 2,500 SMEs have already expressed interest in adopting the product that offers flight and hotel bookings for business needs, he said.
MakeMyTrip believes the new corporate wallet on MyBusiness will help companies reduce payment inefficiencies, liabilities and potential corporate card abuse and that it will provide employees and companies greater flexibility. MyBusiness would be supported via corporate helpdesks which will be operational 24×7.
Rising corporate travel has led services providers to take a greater interest in the segment. In July, India’s second largest online travel operator Yatra Online announced it acquired corporate travel services provider Air Travel Bureau to strengthen its position in the corporate travel segment. Magow said while MakeMyTrip is not looking at acquisitions in the corporate travel space for now, it has an aggressive plan in place to tap into the fast-growing business travel market by moving complex offline processes to a convenient and efficient online booking experience.
Magow said MyBusiness will also be helpful under GST as it will facilitate the process for companies to claim GST credits in a more transparent manner. Make-MyTrip will pass GST details of the company to the hotelier. When the hotel creates the bill, these will be incorporated in the invoice, ensuring that tax charged on the invoice will be uploaded against the company’s GST account. Companies will also be able to claim GST benefits against convenience fee charged by MakeMyTrip.
It will provide free cancellation and modifications in flights and hotel bookings for employees alongside complimentary in flight meals and seat selection.
Source: The Economic Times