CWT Launches Solution Service For SMEs, Aims For 1% Market Share
Carlson Wagonlit Travel, the global travel management company has launched CWT For You, a business travel solution focusing on small and medium enterprises in India
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Carlson Wagonlit Travel, the global travel management company has launched CWT For You, a business travel solution focusing on small and medium enterprises (SMEs) in India.
“Indian SMEs and start-ups have seen tremendous growth in recent years, with many expanding nationwide and some even venturing into international markets,” said Geeta Jain, chief executive officer, Carlson Wagonlit Travel-India. “Yet most of these companies have very little control over what they spend on business travel – a significant chunk of their total spend.”
The global management company first launched this service in India because it believes India is the fastest growing travel market. The company feels India has the potential to become third largest travel market by 2030.
Jain feels the travel business growth is not driven by the large companies but the small and local companies. After launching in the Indian market, CWT is planning to enter the US and some parts of the European market.
“We are planning to get the 1 per cent market share of about 50 million SMEs in the coming two years. And that 1 per cent market share is enough to get the volume and scale it up,” Jain said.
CWT’s internal target is to get around 250 companies registered in next one year.
With no minimum spend threshold or applicable transaction fees, this service is available through a web-based registration and is focused on giving these growing businesses access to some of the benefits of managed travel that larger corporations enjoy. It is estimated that India has close to 50 million SMEs, accounting for nearly 40 per cent of the gross domestic product.
Aimed at companies without a managed travel program, CWT For You is available both as a mobile app and an online booking tool (OBT), providing SMEs with a highly user-friendly, intuitive and cost-effective self-servicing solution for their business travel needs.
CWT For You offers SMEs a cost-effective business travel solution by including the essential components of managed travel, without certainly added services required by organisations with global travel programs or high travel volumes.
By showing travellers the lowest fares with a single click, it saves them the time and effort of shopping around for the best airfares and hotel rates.
The mobile app and OBT will allow the SMEs to get lower fares, help with visas, travel insurance and booking multiple itineraries with multiple destinations.