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How Travelit Makes Travelling Affordable For Small Businesses

Business travel made easier, more cost-effective and tailored to your needs with Travelit.

Tourvest

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Tourvest

DID YOU KNOW?

Travelit can save you 30% on your complete travel bill. We provide a complete end- to-end travel management solution in partnership with Tourvest Travel Services.

Travelit, in partnership with Tourvest Travel Services focuses on the SME, public sector and the corporate market, which means it has specific niche solutions suitable for each one of these sectors. To deliver a complete end-to-end travel solution to these sectors, it’s essential to provide services to procurement, HR, finance, IT, travel arrangers, authorisers and the executive management team.

“Our technology enables us to configure and implement the solution based on the client’s exact requirements, to deliver on travel policy compliance, finance and authorisation controls, and process efficiencies every business is looking for within the African market,” says Travelit’s Chief Sales Officer Wayne Muirhead. He delves into the ultimate online travel solution’s simple yet powerful implementation for businesses of all sizes.

The travel challenge for SMEs

The South African and African marketplace consists of a number of challenges, the largest concern being cost savings. With Travelit, the traveller can select their requirements based on a large range of options across multiple suppliers, whilst adhering to the company’s travel policy.

When faced with issues such as where to stay, the best airline to choose, choosing a car to rent, and transfer decisions, the Travelit client is provided with every available supplier to choose from, on one single platform.

Another challenge within the industry is information and communication to the traveller on the move. Travelit’s mobile app is designed to provide instant communication to the traveller and support the company’s duty of care programme. In addition to supporting the company’s travel programme, Travelit provides an expense management solution, as part of its offering.

Related: Tourvest: Martin Weist

Authorisation, pricing, transparency and finance are also priority on the list of concerns for many business owners, says Wayne. “It is extremely challenging to book your trip directly on a website, which has many limitations,” he notes. “The travel arranger is required to jump from website to website, prices are constantly changing and they’re further frustrated by getting the go ahead from the manager/traveller.”

Mobility is about convenience, accessibility and real-time information for the traveller. The Travelit solution provides a fully backed up 24/7 call centre to support travellers.

The simple, yet powerful solution

Travelit is the leading online travel solution within the African market place, with over 900 corporate travel clients, and over 30 Government Departments. What makes the solution truly outstanding is that there is no onsite implementation required.

Users gain access to the Travelit solution, which uses the latest cloud technology. This significantly reduces costs and implementation timelines.  Large clients can be set up within a matter of weeks, and smaller clients can be trading within a day.

“Payment within travel has traditionally been cumbersome and costly. Travelit has worked closely with leading players in the financial services sector to deliver modern virtual credit card technology to our customers and our suppliers.”

In a nutshell, the virtual credit card solution eliminates credit card fraud, dramatically improves credit card reconciliation and provides immediate payment to the supplier for their services.

Travelit’s 375 000 users are supported nationwide by over ten leading travel management companies. These users experience all the efficiencies and benefits of the technology, along with personalised service from a qualified travel consultant. They travel in the comfort of knowing they can always talk to a person who will have access to all their online bookings.

Related: 6 Travel Hacks From Experienced Business Travelers

Travelit simplifies the entire process, across flights, cars, accommodation, transfers and parking. Access to the solution is quick and easy, online or via the Travelit mobile app. All this technology has been developed in partnership with global travel technology giants. “Travellers also receive discounted prices based on our aggregated buying power, including individually negotiated corporate deals and web rates,” says Wayne.

“Travelit is a full end-to-end travel and expense management solution, who can provide a tailored and unique travel solution to meet your exact business requirements.”

Tourvest is Southern Africa’s leading integrated tourism group, operating businesses which range from travel management companies, hotels, lodges and restaurants to craft, curio and jewellery shops and foreign exchange bureaux, under some 60 sector-leading brands, employing more than 5 000 people.

Attracting Investors

XPRS Capital Africa Bridges Funding Gap Faced By South African SMEs

XPRS Capital Africa answers local SMEs call for funding.

XPRS Capital Africa

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Small and medium enterprises (SMEs) are a vital component of the South African economy. However, there is a substantial portion of the country’s estimated 650,000 SMEs that have no access to funding to assist in their continued growth

In response to an increase in demand for reliable and easily accessible capital for businesses like these, XPRS Capital Africa opened its doors in South Africa. The specialist business funding provider is geared towards rapidly vetting and approving short-term business funding ranging from R50,000 to R500,000. In addition, XPRS Capital Africa specialises in extending funding to SMEs that may not qualify for funding from traditional lenders.

Simon Leps, CEO of XPRS Capital Africa explains that XPRS Capital has its roots in the US, having been founded in 2013. “The company is a renowned and established alternative online business-to-business lender. Together with a team of data scientists and using thousands of data points, XPRS Capital has developed a proprietary credit vetting algorithm and packaged product set.”

Related: Angels & Demons: What To Know When Negotiating Equity Funding For Your Start-up

“The technology and approval processes developed by XPRS Capital has a massively successful track record overseas and the experience that our company has gained over the years will help many more SMEs in South Africa to reach their potential,” says Leps.

“The XPRS Capital platform has processed over $1b worth of loans and has a proven track record of funding thousands of businesses across hundreds of industries,” he continues.

Leps adds that the company’s sophisticated algorithm allows XPRS Capital Africa to provide funding to many South African SMEs that are usually denied loans on the basis that their owners have less than ideal credit records. “Traditional lenders are often reluctant to lend capital to SME owners whose credit histories place them in higher risk categories. This has created a massive challenge for many promising SMEs. At XPRS Capital Africa, we focus on the health of the SME, and use state-of-the-art technology to provide businesses the cash flow they need to grow and flourish.”

Using the unique algorithm that we have optimised for the South African market, we are able to accurately assess any SME that has been in business for over a year, to rapidly provide a 3 to 12-month funding solution, notes Leps. “The online application takes less than 10 minutes, allowing SME owners to spend less time filling in forms for funding, and more time on their business.”

XPRS Capital Africa provides funding directly, working closely with SMEs to offer the fastest approvals, best possible repayment terms and most accurate risk profiles for any business.

“Cash flow is the lifeblood of every single business. Our mission is to provide this quickly, affordably and reliably,” Leps adds.

He notes that, given the high number of businesses that have trouble accessing financing, SME owners should also know how to maintain their own positive credit records. Thereby they can ensure that their businesses have access to as many options as possible.

“Ensure that all areas of your company are looked after to the same degree as most funding providers want to see that all aspects of a business are well managed. Up to date, audited financial statements and management accounts, well managed bank accounts, and good budgeting and forecasting show that the owners are attentive. Owners also need to know their businesses inside and out and be able to answer questions about their cash flow and deal pipeline.”

Related: The Investor Sourcing Guide

In addition to this, Leps says that the customer’s experience when dealing with the business could also have a measurable impact. “Any touchpoints that are available to your customers will be looked at by potential funders, so all customer facing assets should look professional and be kept up to date. This goes for websites, online portals and social media accounts.”

“The ability to access additional funds when your company needs it is the key to long-term survival. That’s why it is paramount to maintain the best possible credit record. However, it is also important to remember that, whatever the financial state of your business, business owners are never completely out of options,” Leps concludes.

For more information or to apply for funding, please visit https://www.xprscapital.co.za/ or contact XPRS Capital Africa on (087) 625-0665  or info@xprscapital.co.za.

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4 Black-Owned Businesses Participating in This Enterprise Development Programme That Are Growing – Fast

The Department of Small Business Development (DSBD) and Property Point have joined forces to take 16 small to medium-sized, black-owned, businesses, through a life-changing enterprise development programme.

Property Point

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The Department of Small Business Development (DSBD) and Property Point have joined forces to take 16 small to medium-sized, black-owned, businesses, through a life-changing enterprise development programme.

In its first three months of operation, this programme has already seen incredible results with an average growth rate of 27% per business,  R17,8million in contract secured and 21 direct jobs created. This is a unique collaboration in that it is set up specifically to encourage access to markets for the beneficiary businesses and is the first of its kind in the industry.

But who are the people behind the numbers?  Meet four out of the 16 business owners , Thabiso, Falvia, Malusi and Mandla taking full advantage of this opportunity.

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Calling All Social Entrepreneurs: Be SA’S Next Changemaker With The Nation Builder Social Innovation Challenge

In partnership with LaunchLab and the Mergon Group.

Mergon Group

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Nation Builder, together with the Stellenbosch University LaunchLab and the Mergon Group, is inviting business pitches for their inaugural Social Innovation Challenge. The competition aims to identify and support South Africa’s social entrepreneurs, with an opportunity to win a share of R150 000 seed capital.

Entrepreneurs with a self-sustainable business idea – no matter how simple or small – that addresses particular social issues, positively impacts communities, empowers the disadvantaged, or has the potential to solve local problems in innovative ways, are invited to enter the Social Innovation Challenge.

Ten finalists will receive exposure to a broader network of business investors at the final pitching event, which will be hosted by LaunchLab in Stellenbosch on 13 June 2018. Three final winners will receive their portion of R150 000 funding capital, as well as business support from LaunchLab.

Related: How To Be A Social Entrepreneur

In addition to social innovation specialists, media and social development experts, the judging panel will consist of astute business leaders who have successfully walked the entrepreneurship journey.

“Social entrepreneurs are those who see social challenges as opportunities, devise sustainable business solutions to meet those needs, and positively impact many South Africans in the process,” says Keri-Leigh Mac Donald, Executive Director of Nation Builder, an organisation that supports businesses in leading social change in South Africa.

“Social entrepreneurs are the next wave of change makers and social reformers. Nation Builder wants to support and showcase some of these great and emerging home-grown social businesses as a means to challenge us all to think differently when addressing our local social challenges,” she adds.

According to Brandon Paschal, Head of Incubation at LaunchLab, most of the start-ups that the LaunchLab currently work with already have a strong social conscience. “We have worked with many great small businesses in sectors such as mental health, financial inclusion, job creation, empowerment, and sustainability.  We’re excited for them to have this platform with Nation Builder and the broader network of great socially-responsible companies. It is a wonderful way for them to gain more exposure, but also to work with like-minded partners that can help take their businesses forward, without compromising on their social conscience and the greater purpose of their business.”

The winning entrepreneur and their business idea will also be showcased at Nation Builder’s In Good Company conference in Gauteng in August 2018. In addition, they will receive exposure through the various Nation Builder, Mergon and LaunchLab media channels.

“The societal benefits from these enterprises can bring about increased economic activity and opportunities for many more South Africans, while playing a pivotal role in breaking the cycles of social ills that many people are facing daily. The Nation Builder Social Innovation Challenge is a first step in fuelling and highlighting local social innovation solutions,” says Pieter Faure, CEO of Mergon.

Related: 3 Ways For Social Entrepreneurs To Access Fundraising

Submission requirements: Submit a 3-minute video (cell phone footage can be submitted too) of yourself explaining your business idea with your entry form which can be found on the LaunchLab website: http://www.launchlab.co.za/nationbuilder2018

Pitches (video entries) need to focus on providing the following information:

  1. Provide a brief summary of the business/social innovation idea and its history.
  2. What is the particular social issue that the business idea aims to address?
  3. How does the business idea solve or address the social issue?
  4. Explain how the business intends to make money and be sustainable, while clearly describing the target market or customer profile.
  5. What key milestones have been achieved within the venture already?
  6. What is the strategy to grow the business and scale the social impact?
  7. Anything else that the panel needs to know?

Submissions opened on 14 March, and the deadline for online submission entries is 11 May 2018. The top ten finalists will be notified by the end of May. Finalists’ transport to and accommodation in Stellenbosch for two nights will be provided.

LaunchLab’s terms and conditions apply, and are available to download here:  https://launchlab.co.za/innovationchallenges/competition-terms-conditions/

The three winning pitches will be announced at the pitching event on Wednesday 13 June 2018. The panellists’ decision is final.

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