The downgrade of the U.S. credit rating late last Friday, as well as the ongoing debate over the debt ceiling and the European debt crisis, rocked the markets on Monday. As global markets continue to exhibit a great deal of uncertainty, investors and government officials are searching for ways to shore up and stabilize. With earnings released and dividends announced, many are looking to corporate America—and specifically the tech sector—to lead the way toward recovery.
Concur CEO Steve Singh was asked by CNBC on Monday night to share his perspective on the latest market volatility. On “View from the C-Suite,” he discusses the impact of the current economic climate on Concur’s business, stating, “We see a very solid demand environment. We’re continuing to invest against that demand environment. This year, our workforce for fiscal 11 will be up about 20 percent year over year. Expect it to be roughly the same growth next year.”
When asked about a challenging economy’s impact on the technology sector and its correlation to productively, he replied, “Fundamentally, if you think about a tough economic environment, you have to look for productivity gains. And technology as a whole, is really about driving productivity improvements across the enterprise. Companies like Concur and frankly, I think across the tech sector, will fare better in my view.”
Watch the complete clip on CNBC.
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