This article first appeared in BW BusinessWorld
ITILITE is an AI-powered SaaS platform that helps companies digitize their travel management and reduce the cost by 30% in a way their employees love. The platform uses data analytics to create a deeper impact. The employees get personalized recommendations based on past trips taken by them, their personal preferences and company policies reducing the booking time to 90 seconds. The companies, on the other hand, can take well-informed decisions about their travel through actionable data insights provided by the platform and build better and effective practices. In a typical scenario, an employee makes her travel choices based on the company policies, as long as the flights, hotels etc. fall within the policies, they do not think twice about it, it’s a zero-sum game. Now imagine what happens if the company incentivizes the employee, by sharing a part of the saved money, for opting a three-star hotel over a four-star one, when both are within permissible limits. The employee now has an incentive to pick the three-star hotel. This is how ITILITE creates a win-win situation for businesses and employees.
“Anish and I joined in turning this idea into reality and founded ITILITE in February 2017. Travelling has been a key aspect of our professional lives. As McKinsey consultants, Anish & I used to travel for almost 200 days in a year. Planning a trip was an offline, time-consuming process every single time. At the same time, we were looking at the ways our clients could optimize their costs and travel always used to be a big-budget item that no one knew how to curb effectively.” says Mayank Kukreja, Founder and CEO at ITILITE. ITILITE brings a new approach that incentivizes the user i.e. employee in their case, for reducing travel expenses and saving operational costs, thus reaping part of it as rewards.
The USPs of the platform are:
Cost Reduction: Helping companies reduce cost by incentivizing employees to save money for the company.
Convenience: A intuitive, unified system along with smart, personalized recommendations which allow employees to plan and book their entire trip within 90 seconds.
Company Insights: Superior control and analytics through smarter workflows, platform enforced policies and real-time insights.
The platform operates through a subscription-based model. Companies pay a monthly subscription-based on their travelling employee count and travel volume. The product helps businesses manage their travel function end-to-end, however, there are premium features available for an additional cost to those who want to enjoy the product to its full potential.
With the adoption of a comprehensive travel platform, corporates can further evolve their travel policies to provide business impact for the organization as well as the employees. The much-needed intervention of integrated, tech-enabled players like ITILITE is bound to disrupt the business travel ecosystem in a way that proliferates business growth while creating seamless experiences.
At this time, ITILITE is focusing on continuing to build their market leadership in India. In little over two years, they have built a clientele of 100 clients including enterprises as well as fast-growing startups, including Myntra, Jockey, RPG Enterprises, Spykar, Cure.fit and Byjus. They see end-user adoption up to 97% within weeks of going live, reasserting the need for the product among corporate travellers.
At ITILITE, democratizing corporate travel means empowering employees and turning them into a stakeholder in the process, not just end-users. The platform allows the employee to see everything, right from how much they’re spending and saving to the kind of options that are available to them in real-time. As opposed to taking a ‘policy first’ perspective, an ‘employee’ oriented route has been strategically taken, which makes them feel like a part of the entire gamut. By incentivizing these employees with part of the overall savings, adoption is being catalyzed by providing a platform that gets smarter with repeat usage.
The approach of being successfully able to urge the employee to save for the company is a powerful one and the proof of the pudding lies in the 97% adoption rate that ITILITE has seen among clients.
“As end-users, we knew how broken the system was and not just in India; We saw the same practices and therefore the same issues across the US, Canada, Australia and the Middle East. For a business, travel can account for up to 5%-6% of their annual budget, especially in industries like technology and pharmaceuticals. While personal travel industry has moved to online, corporate travel management has not changed much since the 90s. It includes a lot of manual intervention and offline processes, that leads to a poor, inefficient and costly experience. In the coming year, we aim to grow our clientele to 500 businesses. We are building capabilities to serve our multi-country clients in other geographies and expand to serve the increasing demand we are seeing from those countries.” adds Mayank Kukreja, Founder and CEO at ITILITE.