Insteract is a cloud-based platform that makes business trip planning transparent and convenient.
Insteract is a cloud-based platform that makes business trip planning transparent and convenient. The company’s product ‘HelloIsa’ is an intelligent travel agent that manages travel policies and finds the most cost effective option. “With more and more millennials joining the workforce and technologies like AI, chatbots, voice interfaces becoming the norm, business travel booking is undergoing transformational changes,” says Balaji Ramakrishnan, founder & CEO, Insteract Technologies. “We believe that the future of business travel management will focus on people productivity and not on fixed rules and tight processes,” he tells Sudhir Chowdhary in an interaction. Excerpts:
How is the corporate travel space evolving in the country?
Among the 10 largest business travel markets, the Indian corporate travel space is the fastest growing market and is perhaps the most unmanaged one. Unmanaged means that all aspects of travel, like finding the lowest fares, booking flights, confirming bookings and managing risks, is planned and arranged using an internal travel desk or by an ad-hoc admin personnel. This is because of two factors; one, most companies have a loosely defined or no travel policy and second, email is still the preferred tool to plan and approve travels. While the internet has changed how we plan and personalise our travel experience, corporate booking tools still operate in the old way. They do a great job in aggregating content and streamlining the process but finding a lowest logical option for your business trip is time-consuming and inefficient. They are not smart and adaptive to your business requirements.
How is Insteract helping the SMEs of India cut down on business travel spends?
Insteract offers a transparent and convenient way to buy business travel for SME. It delivers an innovative buying experience by doing three things:
First, based on the available market options it calculates a benchmark for the lowest logical option for the trip. This cuts down the time in researching multiple websites to see what is the best fare for a trip. Second, it uses data analytics and machine learning to show only a few relevant trip options. No more filtering and sorting to just see the top five options that are relevant to the traveller and agreeable to the company. Third, it uses rewards to align travellers with company. Using Insteract, companies can find options that are on an average 20% lower and save as much as 40% on the cost of
What is HelloIsa, what does it do?
HelloIsa is a cloud-based travel platform to buy your business travel. It is an affordable virtual travel desk that makes business trip planning efficient and easy for everybody involved. She (Isa) takes the hard work out of corporate travel. She manages your travel policy and finds cost-effective options to optimise your travel budget; while keeping the business traveller happy. For travellers, HelloIsa curates the search process and shows you only a few but relevant trip options. HelloIsa learns from your preferences and behaviour and finds you deals that is beyond what is available on the market. HelloIsa rewards travellers for their efforts to save money and improve compliance with their company. For the business, HelloIsa brings a transparent search. She saves time in finding the optimum cost for a trip and sets tolerances for approval.
What are the future prospects for Interact in the coming years?
The goal of Insteract is to make the process of business trip planning transparent, convenient and personalised. We are building a platform that will provide a personal buying experience to individual business travellers and companies who want to plan and book their entire door-to-door trips.