On 23rd May 2019, 8common Limited (ASX: 8CO) inked a strategic agreement with TRAVLR for the launch of Benefits8, employee travel benefits platform. This platform leverages the company’s growing Bleisure travel opportunity, which combines business and leisure.
8common focusses on financial technology and provides innovative software solutions. Its flagship product is expense8, which caters to travel and expense management along with card application & management to enterprises. These large enterprises include Amcor, Broadcast Australia and State and Federal government agencies and Woolworths. The Prime Minister’s Federal Department and Cabinet and the NSW Department of Education also use this product. Listed on ASX since 2014, the company is headquartered in Sydney.
8CO’s products (Source: Company website)
TRAVLR, on the other hand, is a technology platform that brings together travel recommendations from real travellers, allowing users to research, plan and book their trip- all within a single site. It has integrated the world’s largest travel inventory into a single platform, making it a seamless booking process. Partnership with TRAVLR provides business with personalised content, fit to their users with at competitive prices, allowing customers to book flights, accommodations, activities and experiences.
TRAVLR is expected to power Benefits8 to offer an end-to-end leisure travel platform. This would be beneficial towards the client relationships of the company’s Expense8 business unit. This unit is inclusive of major players like Amcor (ASX:AMC) , Woolworths (ASX:WOW) and several Federal Government Agencies.
Some of the Users of 8CO’s services (Source: Company website)
The concept behind combining business and leisure has been a set priority by travel industry experts.
Founder of TRAVLR, Simon te Hennepe expressed his excitement to be partnering with 8CO and Benefits8 which aims to offer hassle-free experience of booking and travel planning based on key innovation and a new technology platform with key priority on meeting the highest compliance norms.
Executive Chairman of 8common, Nic Lim shares his happiness on the take-off of the innovative and mentioned that he company would continue to offer its seamless services while keeping clarity of business and leisure travels.
The Expense8 Corporate Travel module provides a Pre-Trip approval function which would provide employees to plan and book their corporate travels with much ease. It also provides an easy and secure approval process for the managers and employees to be in vigilant check of the government and corporate compliance requirements.
The company recently released its half -year results for 1H19 with strong business results, given the success of the Expense8 business.
Share Price Information:
8CO is currently trading at A$0.180 (As at 1:09 PM AEST, 24 May 2019) with a market cap of A$26.27 million and 145.93 million outstanding shares. The stock has given an outstanding YTD return of 414.29% and a 6-month return of 373.68%. The stock has noted 52-week high and low at A$0.210 and A$0.025, respectively with an annual average volume of 385,643.
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