Yatra Online Unveils Gen AI-Powered Expense Management Solution for SMEs and Large Enterprises

AI-Powered Tool Aims to Streamline Travel Expense Management for Over 800 Customers

New Delhi, India, 27th May, 2024: Yatra Online Limited {BSE: 543992 NSE: YATRA}, India’s largest corporate travel services provider and one of India’s leading online travel companies, has launched its expense management solution to enable both international and domestic enterprises to manage their business expenditure efficiently. This highly scalable tool will revolutionize the way businesses handle both travel and non-travel expenses, offering unparalleled efficiency and accuracy. The comprehensive solution promises to streamline the entire expense management process, while offering a seamless integration of travel bookings and expense tracking.

Yatra's Expense Management Solution stands out with its utilization of cutting-edge technologies including GenAI Large Language Models (LLMs) for receipt analysis. Unlike traditional OCR technology, this ensures more accurate and comprehensive expense tracking, significantly reducing errors and saving time. Additionally, it features an integrated chatbot based on Gen AI and RAG models.

Designed as an end-to-end travel solution, the tool manages everything from booking flights, hotels, and cars to recording incurred expenses during travel within a single platform. Yatra being the  #1 corporate travel player to launch this solution, highlights its commitment to innovation.

Other Key features of Yatra’s Expense Management Solution include:

• Multi-level approval process tailored to meet specific company requirements, ensuring streamlined workflow management.
• Seamless integration with ERP systems facilitates smooth data flow and enhances operational efficiency.
• Advanced analytics powered by a Power BI dashboard, providing deep insights for comprehensive expense analysis, empowering informed decision-making and strategic planning.
• Mobile application for Android and iOS, allowing users to create and approve expenses, view reports, check reimbursement status, capture mileage via GPS, make small payments through UPI, and automatically generate expense items from UPI payments.
• Expense auditing, integration with Google APIs for mileage tracking, and split expense capabilities.

Yatra’s Expense Management Solution is rigorously tested for reliability, including load and stress testing to accommodate up to 150 simultaneous connections (users) submitting expense data concurrently. This ensures uninterrupted performance even during peak usage periods, guaranteeing a seamless experience for all users.

 

Dhruv Shringi, CEO and Whole-Time Director of Yatra Online Limited commented, “As the leading corporate travel player in India, we take pride in launching a solution that not only meets the current demands of the market but also anticipates future needs. Our Expense Management Solution is designed to grow with our clients, offering scalability and flexibility as their businesses evolve. We believe this innovation will transform the way businesses handle travel and non-travel expenses, making the process more efficient and accurate.”

 

The heart of this tool is the expense rule mechanism, offering unparalleled flexibility and customization to set sophisticated expense rules tailored to specific needs, whether based on geography, employee grade, or expense category. With 800+ corporates already poised to use this solution, Yatra's Expense Management Solution is set to become an indispensable tool for any business looking to manage expenses effectively.