Technavio Announces the Publication of its
Research Report Global Travel and Expense Management Software Market 2016-2020
Technavio recognizes the following companies as the key players in the global travel and expense management software market: Concur (SAP), Certify, Expensify, Chrome River Technologies, and Infor.
Other prominent vendors in the market are: Apptricity, Ariett, Basware, Coupa Software, DATABASICS, Expense8, Fraedom, Insperity, InterplX, KDS, NetSuite, Nexonia, Nexstep Infotech, Oracle, Paychex, Serko, Skyjunxion, Tallie, Trippeo Technologies, Traveldoo SAS, TraveluXion, Unit4, and Virtual Communications.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is broader access to travel and expense portal through mobile apps. Businesses need to stay connected around the clock. Mobile devices keep employees connected, and this has increased the demand for uninterrupted connectivity between corporate networks and the mobile devices of employees. This has also encouraged employees to use their personal portable devices such as cell phones, tablets, and laptops to access and store confidential information. The increasing adoption of mobile devices is a major trend witnessed in the global travel and expense market. Mobile devices such as smartphones, laptops, and tablets are increasingly being used by enterprises and employees to book tickets, change their flights, locate their luggage, and submit expense sheets from Android, Windows, Blackberry, and iOS devices. Employees can create and manage expense reports from mobile devices and send it to the manager in charge of authorizing reimbursement.”
According to the report, one of the primary drivers in the market is emergence of SaaS-based travel and expense management software. 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 software is 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 software 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.
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Technavio recognizes the following companies as the key players in the global travel and expense management software market: Concur (SAP), Certify, Expensify, Chrome River Technologies, and Infor.
Other prominent vendors in the market are: Apptricity, Ariett, Basware, Coupa Software, DATABASICS, Expense8, Fraedom, Insperity, InterplX, KDS, NetSuite, Nexonia, Nexstep Infotech, Oracle, Paychex, Serko, Skyjunxion, Tallie, Trippeo Technologies, Traveldoo SAS, TraveluXion, Unit4, and Virtual Communications.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is broader access to travel and expense portal through mobile apps. Businesses need to stay connected around the clock. Mobile devices keep employees connected, and this has increased the demand for uninterrupted connectivity between corporate networks and the mobile devices of employees. This has also encouraged employees to use their personal portable devices such as cell phones, tablets, and laptops to access and store confidential information. The increasing adoption of mobile devices is a major trend witnessed in the global travel and expense market. Mobile devices such as smartphones, laptops, and tablets are increasingly being used by enterprises and employees to book tickets, change their flights, locate their luggage, and submit expense sheets from Android, Windows, Blackberry, and iOS devices. Employees can create and manage expense reports from mobile devices and send it to the manager in charge of authorizing reimbursement.”
According to the report, one of the primary drivers in the market is emergence of SaaS-based travel and expense management software. 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 software is 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 software 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.
Know more about sample report: https://marketreportscenter.com/request-sample/456000
Further, the report states that one major
challenge in the market is shortage of skilled professionals. Implementing
travel and expense management software in enterprises is very complex and
requires extensive training for the end-users to understand its functions.
Without proper training, employees are unable to operate the software. This, in
turn, slows down the process of extracting required information, reducing the
efficiency of the enterprises. Developing countries such as China and India are
still lagging in terms of adoption of travel and expense management software
because of lack of proper training and education. In addition, vendors in these
countries are unaware of the benefits of employing travel and expense
management software in enterprises as they believe that the same function can
be achieved by manpower rather than software. Also, those who have adopted this
technology do not have the sufficient knowledge to use it to its optimum
efficiency. Hence, the lack of skilled professionals is a major challenge to
the adoption and usage of travel and expense management software.
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.
Get discount: https://marketreportscenter.com/request-discount/456000
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.
Get discount: https://marketreportscenter.com/request-discount/456000
About Travel and Expense Management Software
Travel and expense management software is deployed by enterprises to manage and audit employee-initiated expenses that include travel and entertainment. The software helps control and monitor expense reports, thereby streamlining the business process and preventing fraud and human error. It also increases visibility across the entire reimbursement claim process, reduces travel costs, and improves the efficiency of enterprises.
Technavio’s analysts forecast the global travel and expense management software market to grow at a CAGR of 6.96% and 7.70% respectively during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global travel and expense management software market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of travel and expense management software licenses, installation and implementation of software, training, maintenance, and subscriptions.
The market is divided into the following segments based on geography:
• APAC
• Europe
• MEA
• North America
• South America
Technavio's report, Global Travel and Expense Management Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Concur (SAP)
• Certify
• Expensify
• Chrome River Technologies
• Infor
Other prominent vendors
• Apptricity Corp.
• Ariett
• Basware
• Coupa Software
• DATABASICS
• Expense8
• Fraedom
• Insperity
• InterplX
• KDS
• NetSuite
• Nexonia
• Nexstep Infotech
• Oracle
• Paychex
• Serko
• Skyjunxion
• Tallie
• Trippeo Technologies
• Traveldoo SAS
• TraveluXion
• Unit4
• Virtual Communications
Market driver
• Hassle-free claims and reimbursement.
• For a full, detailed list, view our report
Market challenge
• Lack of control and flexibility over expense management software.
• For a full, detailed list, view our report
Market trend
• Increased adoption of travel and expense management solutions in mid-sized enterprises.
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
Travel and expense management software is deployed by enterprises to manage and audit employee-initiated expenses that include travel and entertainment. The software helps control and monitor expense reports, thereby streamlining the business process and preventing fraud and human error. It also increases visibility across the entire reimbursement claim process, reduces travel costs, and improves the efficiency of enterprises.
Technavio’s analysts forecast the global travel and expense management software market to grow at a CAGR of 6.96% and 7.70% respectively during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global travel and expense management software market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of travel and expense management software licenses, installation and implementation of software, training, maintenance, and subscriptions.
The market is divided into the following segments based on geography:
• APAC
• Europe
• MEA
• North America
• South America
Technavio's report, Global Travel and Expense Management Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Concur (SAP)
• Certify
• Expensify
• Chrome River Technologies
• Infor
Other prominent vendors
• Apptricity Corp.
• Ariett
• Basware
• Coupa Software
• DATABASICS
• Expense8
• Fraedom
• Insperity
• InterplX
• KDS
• NetSuite
• Nexonia
• Nexstep Infotech
• Oracle
• Paychex
• Serko
• Skyjunxion
• Tallie
• Trippeo Technologies
• Traveldoo SAS
• TraveluXion
• Unit4
• Virtual Communications
Market driver
• Hassle-free claims and reimbursement.
• For a full, detailed list, view our report
Market challenge
• Lack of control and flexibility over expense management software.
• For a full, detailed list, view our report
Market trend
• Increased adoption of travel and expense management solutions in mid-sized enterprises.
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
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