Serko Touts Corporate Australia’s Uber Adoption

Serko Touts Corporate Australia's Uber Adoption

Uber and rival ridesharing platforms like Lyft have taken off in the U.S. corporate travel segment in recent years, leading Uber to capitalize on the customer segment and develop Uber for Business. Now, that trend is spreading to new markets.

Reports in the Australian Financial Review on Wednesday (May 22) said Australia-based corporate travel and expense management platform Serko has completed its integration of Uber for Business within its expense management platform, which was first announced last November.

Serko also released its fiscal year earnings data on Wednesday, reporting a 29 percent increase on FY2018 revenues and a 26 percent increase in recurring product revenue, which accounts for 88.4 percent of its total revenue.

“Serko has delivered another successful year,” said Serko Chairman Simon Botherway in a statement. “In the Australasian business, we have benefitted from growing transactions and increasing average revenue per booking, as we both gain new customers and more customers transfer to our premium Zeno travel and expense management solution.”

The Australian Financial Review said the integration of Uber for Business into the Zeno platform is boosting not only Serko’s performance, but also the adoption of Uber among the corporate travel segment. The company did not reveal specific figures on how many of its users have also used Uber for Business, but noted that more than 6,000 companies in Australia and New Zealand currently use Zeno, yielding more than $6 billion a year in corporate travel transactions that pass through the portal.

In another statement, Botherway said the company’s growth in North America and the U.K. is also strong, according to the Motley Fool.

“Demand for Zeno in North America has exceeded our in-house capacity to deliver,” he said. “In response, we have boosted our resourcing and prioritized development as we configure Zeno to meet the operational and marketing needs of these customers. This includes integrating complex travel content and associated services, as well as customized TMC integration work.”