FCM Travel Solutions and KPMG’s recent whitepaper titled ‘Redefining Corporate Travel Management’ forecasts that the Indian business travel market is highly fragmented, with 70 per cent of corporates spending less than Rs 10 million. IT companies have the highest share amongst those spending more than Rs 10 million followed by engineering and pharmaceutical companies. IT, BPO/ITeS and pharmaceutical industries have higher travel spends as a percentage of their revenue. The cost incurred while travelling for business is the second highest operational cost for most organisations. Business travel is central to both maintaining business as well as expanding it and due to rising cost of travel, it is becoming imperative for corporates to drive higher levels of efficiency in their managed travel programme.