Market Experiencing Rapid Growth from Increased Awareness of Expense Management and Push Towards SaaS Cloud-based Solutions
BELLEVUE, WASH. - April 7, 2017 - According to ITR Market View: Budget, Expense, Employee Time and Attendance Management 2017, a market survey report issued by ITR Corporation (hereafter, “ITR”), the Concur Travel & Expense services offered by Concur Japan, Ltd. (headquarters: Chiyoda-ku, Tokyo; CEO: Masamune Mimura; hereafter “Concur Japan”) earned the top share in the domestic expense management market in terms of sales revenue for the third consecutive year. Concur Japan is the Japanese subsidiary of Concur Technologies, Inc., the world’s leading provider of integrated cloud-based travel and expense management solutions. Concur Japan’s share for FY2016 is projected to be 42.9% in the overall expense management market and 54.1% in the SaaS cloud-based expense management market reflecting an expected year-on-year increase in sales of 25.0%.
Source: ITR Market View: Budget, Expense, Employee Time and Attendance Management 2017, ITR
ITR Market View: Budget, Expense, Employee Time and Attendance Management 2017 found the market for SaaS cloud-based services increased significantly more than package models, illustrating a growing trend among Japanese companies to select SaaS cloud-based services over package models for the mid-to-long term.
“In FY2015, total sales of all expense management solutions saw an astonishing growth rate of 20.0% year-on-year. While Concur Japan, with its top share, was a leading driver in the market, other domestic vendors have followed suit bolstering product functionality and strengthening marketing efforts to drive sales. With the increased awareness contributing to its rapid expansion, the market trend is expected to surge in FY2016 at a projected growth rate of 38.7%. (ITR Market View: Budget, Expense, Employee Time and Attendance Management 2017, ITR report)”
Masamune Mimura, President/CEO of Concur Japan, responded to the report as follows: “I am very honored that many Japanese companies are choosing Concur as their expense management platform earning Concur Japan the top share in the market for the third consecutive year. In a time when Japanese companies are pressured to increase employee productivity amidst the growing global competition, I believe we have been able to remain on top for three consecutive years due in large part to our initiative to drive the e-bunsho reform and the trust we have garnered from our clients with our global-standard services that have been developed with over twenty years of experience and knowledge in the travel and expense management market. I look forward to continuing to serve the requirements of the robust Japanese corporate sectors and contributing to their indirect cost reform and work style reform.”
About Concur Japan, Ltd.
Established in February 2011, Concur Japan, Ltd. is the Japanese subsidiary of Concur Technologies, Inc., the world’s #2 business SaaS vendor for corporate clients. Concur Japan provides back-office support services for companies, starting with Concur Expense, Concur Travel and Concur Invoice, all global-standards in the travel and expense management field. For more about the company, see www.concur.co.jp.
For more than two decades, Concur, an SAP company, has taken companies of all sizes and stages beyond automation to a completely connected spend management solution encompassing travel, expense, invoice, compliance and risk. Concur’s global expertise and industry-leading innovation keep its customers a step ahead with time-saving tools, leading-edge technology and connected data, in a dynamic ecosystem of diverse partners and applications. User-friendly and business-ready, Concur unlocks powerful insights that help businesses reduce complexity and see spending clearly, so they can manage it proactively. Learn more at concur.com or the Concur blog.
Link to the Japanese press release: https://www.concur.co.jp/newsroom/article/04-05-2017
The Concur logo and Concur products referenced herein are either trademarks or registered trademarks of Concur Technologies, Inc.