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"Never doubt that a small group of thoughtful, committed people can change the world. Indeed, it is the only thing that ever has."
- Margaret Meade
Infiniti is funded by Mumbai Angels (www.mumbaiangels.com), a group of experienced professionals-turned-investors.
Mumbai Angels, which has as its members CEOs, CFOs, senior lawyers and IT experts with experience in Silicon Valley, California, backs start-ups and young companies.
Started in November 2006, the Mumbai Angels is a unique forum for members to interact and exchange ideas and knowledge. It provides start-ups and very-early-stage companies with a platform to meet successful entrepreneurs and executives interested in funding them. Mumbai Angels not only offers capital but also high-quality mentoring, vast networks in India and abroad and inputs on strategy and execution.
The Mumbai Angels who have invested their money, intellect and faith in us are:
Praveen Chakravarty, CEO,
investment banking and equities,
Former chief operating officer at BNP Paribas, Mr Praveen Chakravarty spent 14 years working in the technology and financial services sectors. Mr Chakravarty is an active investor in various start-ups and sits on the boards of three of them in India.
Mr Chakravarty received his MBA from the prestigious Wharton School and holds an undergraduate degree from BITS, Pilani. He is a voracious reader of non-fiction works, an active cricketer, a history lover and a keen follower of the randomness of the financial markets. Mr Chakravarty is based in Mumbai.
Anand Jhaveri, founder, chairman and CEO,
Since Rave's inception in 1987, Mr Jhaveri has guided the software solutions company, taking it from a small firm to a medium-sized organisation with offices across Europe, USA and India.
Armed with a bachelors and masters degree in electrical engineering from Cornell University â€“ he graduated with a distinction - Mr Jhaveri started his career in California's Silicon Valley as a senior systems engineer designing controller chips for Advanced Micro Devices. After two years at AMD, he joined a start-up company, Clarity Systems Inc., as an applications engineer developing CAD tools for VLSI semiconductor devices. He founded Rave Technologies after returning from the US.
Co-founder of the Mumbai Angels, Mr Sasha Mirchandani was earlier with BlueRun Ventures in India. He joined BlueRun in 2007 and focused on consumer internet, mobile, media, entertainment and knowledge process outsourcing. Prior to joining BlueRun Ventures, Mr Mirchandani was with Mirc Electronics (Onida) - the company is promoted by his family - as head of corporate affairs and new business. He was also the CEO and founder of Imercius Technologies, a BPO focused on the telecom space.
He is on the boards of Akasaka Electronics Limited, Fractal Analytics, Algorhythm Tech, Gulita Securities, Dhama Innovations, BlueRun Ventures India, Hathway Cable and Datacom Limited. He is an observer in Deeya Energy.
Mr Mirchandani studied business administration at Strayer University, USA, and also pursued the MMDP program at IIM, Ahmedabad. He is a member of the advisory board of John Hopkins School of Advanced International studies in India, the chairman of the Maharashtra Committee of the Electronics and Computer Software Export Promotion Council and a charter member of the TiE Mumbai. He is also a past president of the Entrepreneurs' Organisation, Mumbai.
country manager (India),
Mr Kapur is at the helm of affairs of the India operations of WPP, one of the world's largest communications groups and the holding company that owns some of the world's largest advertising agencies, JWT, Ogilvy, Grey, Y&R and Bates.
Mr Kapur started his career with Citibank. A veteran of the advertising business, he spent 40 years with Ogilvy and was the chairman of Ogilvy India from 1993 to 2003. He is largely credited with the agency's turnaround and accelerated growth which made it India's largest communications group. His stint with Ogilvy took Mr Kapur from Singapore to New York. He was inducted into the Ogilvy Worldwide Board in 1998 and was elected vice-chairman, Asia Pacific, in 2001.
Mr Kapur is currently a director on the board of MIRC Electronics, Pidilite Industries, Annik Technologies, and Eon Premedia, among others. In his personal capacity, he is involved in the development of technology based on line and mobile services companies and has substantial equity in an online publishing company, a BPO journalism company and a mobile tagging services company.
Mr Kapur is also active in civil society. He is the chairman of the Strategic Planning Group at Bombay First, an NGO that works with government and civic bodies for the development of Mumbai into a premier global city. He was recently inducted into the Citizen's Action Group, a watchdog that, under the chairmanship of the chief minister, works directly with the Maharashtra government for Mumbai's growth.
He recently joined the Economic Times Marketing Editorial Advisory Board.
Mr Nath is recognised as a global business leader and one of the pioneers of information technology in India. He has 22 years of experience as an attorney combined with nearly two decades of experience in the IT business. After co-founding Kanbay in Chicago in 1989, Mr Nath transformed the company into a global IT services player, with more than 6,000 employees across four continents.
His entrepreneurial success reflects in Kanbay's acquisition by Cap Gemini in February 2007, at a market capitalisation of US$1.25 billion. Mr Nath was an early believer in India's competitive advantage in the IT services industry. He led the setup of Kanbay's off-shore development centres in India, making Kanbay one of the first American IT companies to provide Global Service Delivery, anchored in India.
Mr Nath is a voracious reader, a keen follower of international business and politics, and passionate about travel and automobiles. He is often invited to speak at industry events and is also involved with various charitable causes. Mr Nath has a degree in law from the University of Mumbai.
Chairman and Managing Director,
Essjay Ericsson Pvt. Ltd
A prominent Mumbai-based industrialist, Mr Sushil Jiwarajka manages the joint venture of his company and LM Ericsson, Sweden. Mr Jiwarajka has more than 35 years of business experience, with a special focus on finance, strategy and negotiations. Over the years, he has set up joint ventures and held long-term partnerships with some of the world's largest companies, including Ericsson, Sweden, Matsushita, Japan, and Hewlett Packard, USA.
He has mentored and nurtured several young entrepreneurs, who are running successful businesses today. He, recently, set up Artheon Ventures, a vehicle to invest in early-stage companies with innovative technologies in renewable energy, telecom and IT. In recognition of his contribution to industry and the entrepreneurial landscape, Mr Jiwarajka has been appointed the chairman of the Federation of Indian Chambers of Commerce and Industry, Western Region. He is also the chairman of the Indo-Arab Chamber of Commerce and Industry, vice-president of the International Chamber of Commerce, a charter member of the TiE, and a management council member of the World Trade Centre. He has also served as the president of the All India Organisation of Employers.
A philanthropist, Mr Jiwarajka is involved in various social causes supporting health, education and the environment.
senior executive director,
Emerging Markets Group,
Franklin Templeton Investments
Mr Rajesh Sehgal manages pre-IPO, private investment in public enterprises and private equity investments at Franklin Templeton Investments across emerging markets with special focus on India. He has the additional responsibility of researching global emerging markets for Templeton's public funds. Franklin Templeton Investments manages about US$650 billion in assets, of which the Emerging Markets Group manages about US$48 billion with 13 offices worldwide and more than 35 investment professionals. Mr Sehgal started his career with the investment banking division of SBI Capital Markets and then shifted focus to become a part of the Treasury and Investments Group managing SBI Capital's proprietary portfolio. He holds a post-graduate diploma in business management from XLRI, Jamshedpur, and is a CFA charter holder from the CFA Institute, USA. He has a post-graduate diploma in securities law from Government Law College, Mumbai.
Mr Sehgal conducts equity valuation workshops for Dun & Bradstreet in addition to sharing his knowledge as a frequent speaker at B-schools. He is keen on working with budding entrepreneurs and has invested in start-ups in the financial services and outsourcing space.
Deepak I. Shahdadpuri,
founder and managing director,
Beacon India Private Equity Fund and Baer Capital Partners
Before heading the US$200-million private equity fund sponsored by Baer Capital Partners, Mr Deepak Shahdadpuri was managing director at GEM India Advisors, a consumer-focused Indian private equity fund. Prior to this, he was the managing director at FS Capital Partners, an early-stage principal investment business, and a principal at Reuters Venture Capital (RVC), a leading US$450-million early-stage venture capital fund.
He has also served as a senior consultant with Bain & Company and as a Chartered Accountant (associate member, ICAEW) with Ernst & Young.
He currently serves on the boards of Baker's Circle, Bhayana Builders and Impresario Hospitality - the owners and operators of restaurants and cafes under the Mocha, Salt Water, Smoke House, Stone Water and Del Italia brands. Mr Shahdadpuri is also on the board of New Horizon Media, Sula Wines, Saffronart, Trak Services, Vatika Land and Capco Advisors. His other prior investments include advertising.com (Baltimore, USA), Subway Southeast (London, UK), Active Health Partners (London, UK), Investis (London, UK) and Cleartrip.
Mr Shahdadpuri is an active angel investor and has previously backed Quickbridge, Fetal Genetix, Speakwell, Bangalore Management Academy and Elliot Resorts.
He has an MBA with a distinction from INSEAD (Dean's List) and an LLB (Hons) from King's College, London.
co-founder and CEO of Loxodrome Solutions Inc
Mr Sanjay Nath has been a member of the Mumbai Angels since 2007. His company, Loxodrome Solutions Inc, is a legal process outsourcing venture that helps law firms and corporate legal departments dramatically reduce costs, improve turnaround times and gain access to India's high-quality talent pool.
Mr Nath has more than 15 years of management consulting, business development and operational experience in the Indo-US corridor, with a deep understanding of IT and BPO services. Prior to starting Loxodrome, he was a principal in IBM Global Services' strategy consulting practice, advising CxO level executives on global high-impact organisational, technology and outsourcing issues. He has held a similar role as a consultant in PricewaterhouseCoopers' strategy consulting practice.
He is passionate about mentoring and helping entrepreneurs and their young ventures grow. He is active in entrepreneurship-oriented organisations such as the TiE-Silicon Valley Chapter, SVASE, The Churchill Club, and the VC Taskforce.
He received his MBA from UCLA's Anderson Graduate School of Management and an undergraduate engineering degree from BITS, Pilani. Mr Nath has extensive global networks, loves travelling, and is a fan of automobiles.
Mr Ashwin Mittal manages two companies in the business process outsourcing and knowledge process outsourcing industries. He acquired Cross-Tab Marketing Services from ICICI Ventures in 2003. Cross-Tab provides knowledge process outsourcing in the high-value market research and data analytics space. Mr Mittal has been instrumental in boosting the revenue of the company 40 times in the five years since its acquisition. Today, Cross-Tab has 300 employees in Mumbai and Bangalore, and is one of the leading companies in this high-value niche. It has been ranked by Fortune magazine as one of the top 100 outsourcing companies in the world, for the last three years in a row.
Mr Mittal has also established and manages the 200-employee strong Inditech Solutions, which provides transaction processing outsourcing services in the logistics, finance and government sectors.
Mr Mittal also plays a key role in the core real estate activities of the Mittal Group. He manages the acquisition of properties and the design and development of the projects. The Mittal Group is the oldest real estate developer in Mumbai, and has been in business since 1952 with more than 2,000 commercial and residential developments across India, many of them India's modern day landmarks. The group has diversified interests in other industries like financial services, hospitality and travel, information technology and outsourcing.
Mr Mittal has a masters degree in commerce and is a chartered accountant with an MBA from the Anderson School, UCLA, and London Business School. He has worked in corporate treasury at Reliance Industries in Mumbai and strategy consulting with Cap Gemini Ernst & Young in New York. His articles on India's knowledge process outsourcing industry have been published in leading global publications such as Research World and Quirks.
He is an active member of the Entrepreneurs' Organisation's Mumbai chapter and a founder member of the Band of Angels: India's first organised Angel investor group. He is also on the group's screening committee. Through the Band of Angels, Mr Mittal frequently invests in young start-up companies.
Irfan M Furniturewala,
technology, commercial and real estate investor
Before turning professional investor in 2001, Mr Irfan M Furniturewala spent five years at Motorola Inc. as a senior engineer. During his time at Motorola, he also founded Proventure Trading. Mr Furniturewala is the co-inventor of two engineering patents granted by the United States Patent and Trademark Office. He earned an MBA from the University of Pennsylvania Wharton School of Business, an MS in electrical engineering from Iowa State University, and a BS in electronics engineering from the University of Mumbai.
Phone: +44(0) 120 3627 6289(UK),
Phone: +91 44 4343 8999(INDIA),
Phone:+91 44 4343 8999,
No-17A, Gokul Arcade, 1st Floor,
Sardar Patel Road, Adyar, Chennai - 600 020, INDIA.
Phone:+91 44 4343 8999,
Retail Travel: www.atyourprice.in
Airlines have unsold seats they are looking to sell and customers are always looking for that great air ticket deal. So Infiniti Software simply brought these two aspects together on www.atyourprice.in. The result: Customers can find tickets at prices they decide and airlines can generate revenue through seats that would have otherwise remained unsold.
For more information, visit www.atyourprice.in
Corporate Travel Management: www.atyourprice.net
When the world became one big market, it not only brought along global business opportunities but also the need to be on your toes, quite literally, to meet them. Travel is an integral part of an executive's life and of a company's expenses. With www.atyourprice.net, the online corporate travel portal of Infiniti Travel Services, an IATA-accredited travel agent and a division of Infiniti Software Solutions Private Limited, companies can avail of a unique solution to reduce their travel expenditure.
To know how, log on to www.atyourprice.net
Group Revenue Management:
This product has been designed to help airlines maximise revenue and make it convenient for booking agents or travel desks to make group bookings. The Group RM software aids in collecting and analysing data related to booking patterns and using the information to accurately forecast future demand. It, thus, serves as a vital tool for formulating pricing strategies and optimising inventory.
For more information on Group RM and other cost-cutting, profit-enhancing products, please visit www.infinitisoftware.net
Why do you need expense management?
Expense management is the process of using technology to put in place a system that controls and manages recurring or one-time expenses in a way that helps eliminate unnecessary spend, increase revenue and ensure policy compliance.
There are at least three reasons why you should invest in a solid expense management system:
a. Expense fraud:
Studies have shown that an organisation can lose up to five percent of its revenue due to expense fraud.
What is an expense fraud?
It could be anything - from the tab for a bottle of wine slipped into food bills run up on an outstation assignment to producing fraudulent or inflated bills for large sums of money.
In most cases, an expense fraud can go undetected for months, even a year. By then, most of the damage is done.
The Association of Certified Fraud Examiners' 2012 Report to the Nations on Occupational Fraud and Abuse revealed that a typical organisation loses five percent of its revenues to fraud each year. The ACFE's Report to the Nations 2008 said that out of the total 959 cases of fraud reported in the survey approximately 13.2% come under the expense reimbursement fraud category.
Undetected expense fraud also inspires me-toos. If one employee gets away with it, another might be tempted to try it too. Expense fraud not only causes revenue loss but also has the potential to trigger a domino effect of a loss of employee loyalty.
b. Policy violations:
One of the reasons why companies fail to achieve their goals is because their carefully formulated policies remain in files on a computer and do not reach the employees who are supposed to follow them. Also, who monitors whether or not policies are being complied with on a day-to-day basis? It's only when violations cause the growth curve to go askew, do these policy documents come out and are waved in the faces of decision-makers in a futile exercise.
IAn effective expense management solution ensures every employee is in the know of the policy guidelines applicable to him or her. It also serves as a watchdog that alerts the management if there is a deviation from the rules.
c. Employee dissatisfaction:
Experts say delayed reimbursements are among the top reasons for high employee attrition rates. And understandably so. For an employee, waiting for days, even weeks, for the accounts department to settle his or her travel bills, can be frustrating, to put it mildly. It also causes a great deal of friction between the departments that are responsible for settling expenses and the employees and this is an unhealthy situation for any organisation.
Expense management tools speed up the reimbursement process and make it transparent. So, when an employee submits a bill, he or she knows it will be settled in a given amount of time and if it isn't then he or she will know why.
What do companies spend on?
We know the usual - rent, salaries, machinery, stationery.
And then there's T&E or travel and entertainment - so obvious that we often fail to give it the attention it needs until it comes and stabs our revenue in the back.
Air travel is what companies spend the most on in the travel category - more than 50 percent - followed by hotel accommodation.
The recent study conducted by Aberdeen Group on how small and mid-sized companies manage T&E expenses found that travel-related expenses account for nearly seven percent of a mid-market organisation's total budget. More than half of the companies surveyed for this study revealed that the biggest expense management challenge was limited visibility into T&E spending, followed by failure to monitor these expenses and policy violations.
This is only for mid-sized companies. The larger your company, the greater your T&E spend and the tougher it is to monitor.
If we were to say that managing T& expenses is a priority for companies in times when the world is your market, we would be stating the obvious. But we'll say it anyway.
What's our point?
The answer is automation
Automating your expense management process can take care of your expense-related worries.
An Aberdeen Group study on expense management automation conducted in 2007 revealed that 68% of the companies surveyed believed that the top strategic action was to adopt technology to automate expense management processes.
Traditional paper-based systems are not just time-consuming and expensive but also ineffective in today's fast-paced business world. With an automated system, the entire process of claiming an expense and reimbursing it is online using customised software. It not only makes the process, quick, transparent and cost-effective but also allows companies to update policies and keep employees informed about them. It also helps analyse expense patterns and use that knowledge to take future decisions.
This is how we do it
Our team at Infiniti Software Solutions, which has people who helped several large airlines bring their revenue curves back on track, has come up with a unique expense management tool, ExpenseOut.
ExpenseOut is based in the Software as a Service or SaaS model. The service can be accessed anywhere in the world through our portal, www.expenseout.com
A self-service tool for employees, ExpenseOut allows the raising and settling of an expense claim online. An approving manager can view the expense, check it for policy violations and decide whether to allow or reject it.
This way, everybody concerned with the expense is in the know of why the expense was incurred, whether it was legitimate and whether it could have been minimised.
The flowchart below will explain how the expense management process works with ExpenseOut in case of a straight, legitimate expense claim:
It's as simple as that. If the approving manager rejects an expense wholly or partly, the file is sent back to the employee with the reasons for rejection. The expense is reimbursed only if the
approving manager is convinced of its legitimacy and allows the expense.
ExpenseOut: easy, fast, efficient:
A quick look at the main features of ExpenseOut will tell you why it is a good investment:
The last word
An automated expense management solution can bring about double-digit savings for a company by maximising policy compliance and minimising the cost of processing expense claims.
ExpenseOut is an intelligent expense management tool that is accessible anywhere. It's affordable and can be customised to suit a company's needs.
More than anything, using an online tool like ExpenseOut will save you a lot of time so you can focus on other long-term goals and leave expense management to us.
Mumbai: Corporates can now manage expenses and spot fraudulent reimbursement claims by simply logging on to a new website, www.expenseout.com, and using the tools it offers to make these tasks smooth and quick.
Infiniti Software Solutions, a Chennai-based company, has launched a unique expense management tool, ExpenseOut, for corporates across the world. An affordable managed service, www.expenseout.com allows companies to file and monitor one-time or recurring expenses online and also check instances of policy violations among employees.
" We are really excited about offering ExpenseOut as a solution to corporates looking for a quick, hassle-free way to manage their expenses and ensure compliance with company policies," Ananth Narasimhan, managing director and chief executive officer, Infiniti Software Solutions, said. "Policy compliance alone can result in up to 15% savings for an organisation. "
For the management, ExpenseOut is a powerful tool to keep a track of expenses and approve or reject them online. The system also generates customised reports that come in handy when future policies are framed.
"ExpenseOut ensures the entire process, from the filing of an expense to its reimbursement, is simple and transparent," Narasimhan, an alumnus of the Indian Institute of Technology, Madras, said.
The product also has a Leave and Time Sheet Management tool which makes managing employee's leave requests and dates easy. A manager can also use this tool if he suspects an employee has raised an expense for a period when he or she was on personal leave, thus eliminating the chances of fraudulent claims.
Infiniti Software Solutions, which has offices in Chennai, Mumbai, New Delhi and Bangalore, is funded by Mumbai Angels, a group of investors that backs start-ups and very-early-stage companies.
Visit www.expenseout.com for more information or write to Gautam Ramanujan, chief commercial officer, on firstname.lastname@example.org. You could also call Gautam on +91 99209 84120
Mumbai: Corporates looking for ways to keep expenses under control and manage employee's leave requests more effectively can now find all solutions under one roof in cyberspace - Infiniti Software Solutions.
A young Indian company, Infiniti Software Solutions is a global pioneer in offering a range of unique corporate travel and expense management products with leave management tools. It has more than 100 corporate clients across India.
"We are the only company in the world that offers all these clever tools designed to reduce expenses, enhance revenue and ensure utmost policy compliance," said Gautam Ramanujan, chief commercial officer, Infiniti Travel Solutions.
The company, which has offices in Chennai, Mumbai, New Delhi and Bangalore, is funded by Mumbai Angels, a group of investors that backs start-ups and very-early-stage companies.
The company's online travel portal, www.atyourprice.net, managed by Infiniti's IATA-accredited travel division, Infiniti Travel Services, helps corporate travellers find the lowest air fares in minutes. The portal also allows employees to make travel requisitions and get them approved by their reporting managers online.
"The annual corporate travel spend in India is at least Rs 80,000 crore. It is an expense every company wants to cut down on and that's where we come in," Ramanujan said. "Using Atyourprice can bring a company's travel purchase costs down by at least 20 per cent."
ExpenseOut, another product that Infiniti launched recently, is a self-service online tool employees can use to file their expenses and track claims wherever they are. The software allows managers to assess these expenses, check if they meet the company's guidelines and then decide whether to approve or reject the claims.
With the Leave and Time sheet management tool, a company can manage employee's leave requests and time sheets and, if necessary, compare them with dates for which the employees have made expense claims.
Infiniti also manages an online retail travel portal, www.atyourprice.in, which aims to get consumers and vendors the best prices for products and services. Customers can use the site to get the best prices for airline tickets. The company plans to include other products and services such as hotel and holiday packages, and car rentals on the site soon. Infiniti Software Solutions also offers revenue management products for airlines.
Why join us?
Infiniti, as the name suggests, provides you with endless opportunities to learn, innovate and grow, not just in the technical space but as an all-round performer.
The team at Infiniti has been innovating and creating some of India's best travel management software. And if you're reading this, you definitely want to be a part of this effort.
Are you the one we're looking for?
You might have the technical skills we need, but your attitude and style of working is what will set you apart from the others.
We need folks who:
Getting ExpenseOut is quick and easy.
Click on Sign Up on the top right hand corner of the page (below the Login tab), enter all the details and click on Submit. You will receive an email from us confirming your registration. Our sales representative will call you within 48 hours to fix a day and time for a quick demo and to seal the deal.
If you have any doubts or questions, you may call Gautam Ramanujan (chief commercial officer) on +91 99209 84120 or send an e-mail to email@example.com. You could also fill in the enquiry form in the Suggestions / Enquiries section of our website and we’ll get in touch with you.
Infiniti Software Solutions was promoted in 2005 with the aim of devising innovative technology that would help corporates maximise revenue and minimise costs.
We are a young company driven by a passionate group of entrepreneurial professionals who have vast travel experience and outstanding technology know-how. And this reflects in our products. More than 100 companies across India are using our travel management tools and have reported at least 15 per cent increase in savings among other benefits.
Our 40-member strong staff, spread across four offices in India, handles more than 250 travel bookings a day and offers clients 24/7 technical support.
Infiniti's innovative corporate travel technology makes it one of the few travel management companies to offer flexible products that effortlessly fit into a company's enterprise resource planning system.