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Thursday, 02 May, 2013, 17 : 00 PM [IST]
Infiniti Software Solutions organises symposium on automation of corporate travel and expense management solutions in New Delhi
By Anish V Punnackattu | New Delhi

Chennai-based Infiniti Software Solutions, a travel management company, recently organised a symposium, ‘Bottom Line Basics’, on automation of corporate travel and expense management solutions in New Delhi. This was the first time Infiniti was oranising a symposium in the capital city. The symposium discussed how online travel and expense management tools help improve revenue. Forty two delegates from Delhi and NCR region attended the symposium.
 
Ananth Narasimhan, Managing Director and CEO, Infiniti Software Solutions; Gautam Ramanujan, Chief Commercial Officer, Infiniti Software Solutions; Anand Bansal, Vice-President, Facilities and Administration, Info Edge India Ltd. (Naukri.com), New Delhi; Sanjay Pai, Head – Travel, Larsen and Toubro Limited, Mumbai; and Shirish Bhandari, Product Head Corporate and Travel Cards at ICICI Bank Ltd attended the symposium.  

Narasimhan spoke about the role of automation in travel and expense management. He talked about how traditional systems may have loopholes that allow fraudulent expense claims to slip through. “Automating these processes not only saves time, it also ensures higher policy compliance among employees and quick reimbursements, thus reducing employee attrition rates,” added Narasimhan.

Ramanujan shared tips on how to create an accurate travel policy. The points he highlighted include - travel by Low-Cost Carriers (LCCs) can save up to 20 per cent on travel costs, booking seven days ahead on LCCs can save up to 33 per cent and booking three days ahead on Full-Service Carriers (FSCs) can bring about 15 per cent savings, and round-trip fares are ten per cent cheaper than one-way fares for LCCs and 15 per cent cheaper for FSCs. “Keeping this data in mind while framing a travel policy can give corporate entities more control over travel costs,” he added.

Bansal shared his experience with Infiniti’s range of online services such as access to airline distress inventory, data analysis and pre- and post-trip approvals. Bansal further said that Infiniti’s products have motivated employees to raise self-travel requests and ensured an optimisation of expenses through better negotiation capabilities and more efficient work flow. He also highlighted the benefits of automated expense management solutions, especially the bird’s eye view it offers of various expense heads and the scope for minimising the outlay under each. “The basis of expense management is getting rid of wastage and saving every rupee but not at the cost of quality,” added Bansal.
 
Pai talked about the need for a technology solution that fits each company’s culture. “It is absolutely important that companies choose a solution that has the flexibility to replicate their current offline processes and bring them online,” said Pai. He also compared corporate and retail fares, mentioning that in some cases the former are higher, defeating the purpose of choosing them over the latter. “The true benchmark of savings would be to know your ATP (Average Ticket Price) and negotiate with suppliers and airlines to ensure that corporate fares are lower than your ATP for the previous year,” added Pai.
Bhandari explained the features of the bank’s corporate payment solution options. Using a case study and past reports, Bhandari highlighted how corporate payment solutions such as the ICICI CTA card helps increase savings through reduced costs.
Infiniti Software Solutions offers solutions and service tools for corporate, airlines and travel agencies to reduce expenditure and better their revenue curves and increase compliance levels among employees. They also have a retail travel portal, www.atyourprice.in, which allows travellers to command the price they are willing to pay for air tickets.

 
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