LONDON--(BUSINESS WIRE)--Enterprises are increasingly adopting travel and expense management mobile applications to stay connected around the clock via mobile devices. Mobile devices are also used by enterprises to verify the services offered by travel agents such as booking and cancellation and departure information. Thus, various enterprises are offering travel and expense management software with mobile apps to cater to market demand. Moreover, this solution stores and syncs data in real time, thus giving employees the freedom to manage expenses from any location. These features and functionalities will lead to an increase in demand for travel and expense management software during the forecast period. Furthermore, this industry research report also presents a competitive analysis of the market by deployment (SaaS-based and on-premises) and component (travel management software, and expense management software) and geography (Americas, APAC and EMEA).
Competitive vendor landscape
The global travel and expense management software market is highly competitive with major vendors such as Certify, Chrome River Technologies, Expensify, Infor and SAP (Concur) competing based on price, quality, and product/service offerings.
“Currently, various small and medium-sized enterprises are adopting travel and expense management software to manage their employee expenses efficiently. This is primarily due to the increased penetration of SaaS-based travel and expense management software. The incorporation of SaaS enables SMEs to use travel and expense management software at a low cost, also enabling enterprises to make optimal decisions across business operations,” says a senior analyst at Technavio
Top five Travel and Expense Management Software market vendors
The company runs its operations through two segments, Product and Services. Its offerings include Certify Payments, which is a software that allows end-user companies to speed up employee expense reimbursement processing.
Chrome River Technologies
The company runs its operations through four segments Expense, Invoice, Audit, and Analytics. The company’s key offering includes the Chrome River Expense, which is a mobile web solution that provides superior user experience across all devices such as smartphones, tablets, laptops, and desktops. This is built on a powerful and flexible configurable business rules engine to address complex policies. It also supports complex international tax jurisdictions such as Value Added Tax (VAT), Goods and Services Tax (GST), provincial sales tax (PST), harmonized sales tax (HST), and fringe benefit tax (FBT).
Expensify runs its operations through the Products segment. The company offers two products – Expenses and Travel. The former automates the entire receipt and expense claim process, and the latter partners with the industry’s top travel platforms so that enterprises can manage their travel efficiently.
The company runs its operations through three segments, License, Maintenance, and Consulting. Its offerings include Infor Expense Management and Infor Expense Management SaaS.
The company runs its operations through two segments, Applications, Technology, and Services, and SAP Business Network. Its offerings include the SAP Concur, which is a travel and expense management software. The product range comprises Time Travel, Concur Travel Request, Concur Expense, and Travel.
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