TechNavio recognizes the following companies as the key players in the Global SaaS-based Expense Management Market: Ariba Inc., Concur Technologies Inc., IBM Corp., and Oracle Corp.
Commenting on the report, an analyst from TechNavio’s team said: “End-to-end expense management solutions automate all components of expense management processes such as travel booking, expense reporting, employee reimbursement, and expense analysis. Thus, these automated end-to-end processes cover the whole span of the expense-related process; from travel booking plans to reporting and payments. End-to-end expense management solutions allow the expense manager to have greater control and reduce reporting errors. In addition, this speeds up the process and improves the operational efficiency of the company. With an end-to-end expense management solution in place, companies can significantly lower their expense processing cost compared to companies that do not use any such solution. In addition, end-to-end solutions accelerate the process of reporting expenses, thus providing cost benefits. Hence, to cater to the increasing demand, many vendors are now offering end-to-end expense management solutions that not only have the capability to track expenses, but can also perform historical spend analysis, predictive analysis, and other similar functions.”
According to the report, one of the major drivers in the market is the need to reduce expenses and operational costs. Enterprises are looking for ways to reduce overall business expenses, a large portion of which is usually incurred in employees’ travel. This has forced them to automate the process of expense management.
Further, the report states that one of the major challenges in this market is the concern over data security. In a SaaS-based model, there is always a risk of information leakage, which could result in the misuse or manipulation of organizational expense data. Concerns about data security can be a significant barrier for deploying SaaS-based expense management solutions. Also, placing a company’s asset information on a digital platform is a major concern unless security mechanisms can be implemented and trusted by the enterprises.
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-saas-based-expense-management-mar…
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 SaaS-based Expense Management Market 2014-2018
