MakeMyTrip’s corporate brand solutions brand, myBiz has been ranked at the top in travel and expense management for the APAC market in G2’s Fall Report, 2023. This is the third consecutive category recognition for myBiz.
The brand ranked first out of 17 in Asia Pacific Regional Grid Report for Travel Management; first out of 10 in Small Business Asia Pacific Regional Grid report for Travel Management; first out of 16 in Small Business India Regional Grid report for Travel Management and first out of 14 in India Regional Grid Report for Travel management in Fall 2023.
“G2’s recognition revitalises our conviction, ensuring we continue to innovate and enrich the corporate travel solution ecosystem in the country. As Indian businesses go global, myBiz remains committed to flawlessly catering to every facet of their travel requirement,” said Raj Rishi Singh, Chief Marketing Officer and Chief Business Officer – Corporate, MakeMyTrip.
Over the last four and a half years, myBiz has emerged as a trusted brand for corporate bookings solutions from MakeMyTrip. “We started building this product with a two-pronged approach. One: It will automate all workflows. And two: We will elevate the corporate travel experience tour like we have elevated it for the leisure use-cases at MakeMyTrip,” said Singh in a separate interaction. A one-stop SAAS solution to handle booking requirements for corporates with detailed and easy customisation process builds on the rich data of its parent company to bring all the potential options across flights, hotels, trains, and ground transport, to a corporate traveller.
Predictably, lack of human support was the first resistance it encountered from the market. “However, India is seeing tailwinds on automation. So more companies are adopting technology to ease workflows to reduce fixed costs,” he shared.
Over the last year and a half now, myBiz has focussed on building a holistic solution and offering the same experience as a B2C traveller. The companies can seamlessly set policies, report without manual hassle, and sync with their ERP and HRMS, allowing the employees to handle their booking for themselves.
“We have tried to create a model that is high on savings, without diluting the experience for a traveller,” said Singh. “On the supply side, we have paid special attention to curation. So both on the supply side and on the demand side, we have ensured that a corporate traveller finds the right inventory, at the right price and is able to complete the transaction in very much like a B2C,” he said.
For myBiz, their growth has been bolstered both by market recovery and by the fact that the number of clients that are using it has gone up in demand. According to Singh, the one big thing that changed post pandemic is the requirement for flexibility. “Plans are far, far less fluid. People want to book but say, ‘I will not travel if it’s not required’,” said Singh.
This in turn has led to the preference for cancellable fares and a seamless process – all without the intervention of customer care. “We now have post-sale services enabled on the app, where you don’t really need to contact the call centre, most of it is automated, and you can actually kind of do forward flows and do it yourself,” he shared.
“From a contracting point of view, we’ve ensured that the fares are flexible, we build data-based products that allow last minute cancellations and offer flexibility in travel plans,” he added.
To make that happen myBiz works closely with their airline partners and offers corporate rates that are actually more flexible than the B2C rates. So while it may not be the lowest rate of the day, it offers flexibility to change the booking.
“A large part of our story has been to get the midsize companies who do not get catered well, similar (and flexible) rates to what are only given to large corporates. As a company we are working with over 6,500 hotels across India. Our strategy has been to cover around 2,000 locations, which should take care of a large part of that demand,” he explained, adding, “This volume of cooperation allows myBiz the flexible of fares, making it possible for a corporate to cancel up to 24 hours in advance.”
The key markets for myBiz are the top eight cities. Of these, Delhi, Mumbai and Bengaluru have the maximum penetration.
“This year, we carried out an exercise to test the emerging zones in India. These included Indore, Raipur, Bhopal, Surat, Chandigarh and beyond. In UP, Kanpur, Lucknow has emerged as a good bet,” he shared. Likewise, in the South, cities like Coimbatore have emerged as a strong market and are becoming the growth drivers for myBiz.
Going forward, MyBiz has aggressive plans, where they are looking to double the business and in a much shorter time period. “The biggest challenge, so far, has been ensuring that the corporates get an end-to-end solution on GST,” said Singh. “We are taking it up head on. We have now automated the entire process. We collect that invoice online and share it further,” he said.
And now, scaling new heights with recognitions and achievement, myBiz is set to solidify its position as a superior choice for businesses seeking superior solutions.