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Launching a new “whole process” version of its travel management app with some back-office capabilities, Ctrip talks about TM+ being “comprehensive, self-service and smart.” The company will not only deliver everything from flight bookings to reimbursements and authorisations but also enable all components to be managed through its platform. Smart brings in big data. Its expertise will help the system make recommendation for specific travelers based on their past behaviour, while providing corporates with internal and external benchmarking options. According to the company's research, China is the second-largest business travel market in the world, after the US, worth an estimated USD 290 billion in 2016. Corporate travel CEO Jiqin Fang hinted that the Ctrip behemoth could be on the prowl for M&A targets as part of its new push into corporate travel. He said that it was looking for “deeper strategic partnerships [with] office automation systems, cost control reimbursement software and travel service providers, corporate procurement platforms as well as social and financial platforms”. Ctrip’s 2016 full-year results showed that its corporate travel unit brought in revenues of USD 88 million, a 29% increase on 2015 and has more than eight million users. |
