TechNavio recognizes the following companies as the key players in the Global Travel and Expense Management Software Market: Concur Technologies Inc., Infor Global Solutions Inc., KDS AG, and SAP AG.
Commenting on the report, an analyst from TechNavio’s team said: “The Global Travel and Expense Management Software market is currently witnessing the emergence of SaaS-based travel and expense management software. Large enterprises and SMEs need travel and expense management software to control and maintain the overall travel expenses and other expenses of each employee. With the emergence of cloud computing, many companies are attempting to move their informational data to a hosted system. SaaS-based travel and expense management solutions are cost effective as the installation and maintenance of these solutions do not require any extra cost. The major end-users for these solutions are SMEs. Since SMEs do not have adequate capital for their IT infrastructure and staff, they are increasingly adopting SaaS-based travel and expense management solutions for advanced travel and expense management capabilities. Hence, many vendors are offering flexible payment options to customers with respect to their usage of cloud-based travel and expense management software. In addition, there is no need for technical support staff, as such tasks are performed by SaaS-based travel and expense management software vendors.”
According to the report, one of the major drivers is the need to reduce travel expenses and operational costs. Of the total expenses incurred by enterprises, a significant amount of capital is invested in employees’ travel. Hence, there is a need to reduce travel expenses in order to bring down the overall expenses incurred by enterprises. Expense and travel management software helps reduce such expenses by streamlining the administration of organizations and facilitating data tracking and auditing.
Further, the report states that one of the major challenges faced by enterprises in the market is the high cost of implementation. Deploying travel and expense management software in enterprises is an expensive process. Its applications need a very conservative and usually costly process of defining requirements. Implementing this software is a time-consuming process. This increases the criticality of the process because, once deployed, it becomes very costly to make any changes.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-travel-and-expense-management-sof…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Travel and Expense Management Software Market 2012-2016
