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Concur Sees Growth on T&E Solution, Perfect Trip Initiative

Zacks Equity Research

On Sep 15, we issued an updated research report on Concur Technologies Inc. (CNQR). The company has been witnessing robust core business growth, driven by an increased demand for integrated travel and expense management solutions. The Perfect Trip initiative, that was started a couple of years back, has been going strong as indicated by an increase in its distribution capacity and the ongoing integration of the travel space. This initiative is supported by the presence of an open platform –Travel & Expense (T&E) – that makes the travel ecosystem more efficient and competitive. The increasing acceptance of this initiative by Concur’s customers, partners, developers and suppliers across the globe reflects the immense potential of this novel concept.

This apart, recently launched apps like ExpenseIt and TripIt are witnessing momentum and have been driving growth for the company. Further, the company enjoys strategic collaborations, with leading companies such as Starwood Hotels & Resorts Worldwide Inc. (HOT), United Airlines (UAL), Airbnb, and Uber, which aim at providing better customer experience through customized solutions. Recently, Concur formed an alliance with International Business Machines (IBM) to strengthen its global travel and expense management solution.

In addition, the company’s travel and expense management boasts a strong presence in the government sector. The company has also been providing such solutions to the U.S. government employees as per its E-Gov Travel Services 2 (ETS2) contract.

This apart, Concur has been intending to increasingly invest in three areas which are considered valuable long-term drivers in terms of geographic expansion, focused investments and customer retention. These three areas include the SMB market segment which has been growing significantly over the last one year. The second area of focus is the global accounts business which offers significant opportunities not only in the U.S. but also in some major economies like Japan. Thirdly, the public sector is also a targeted segment for investment. The novel solutions, combined with the opportunity to penetrate into the untapped global markets, can significantly leverage the company’s business going forward.

This leading global travel expense automation company believes that it has penetrated only 25% of the total market capacity. Meanwhile, Concur is focused on benefiting from the corporate travel market which is estimated to be worth $1 trillion at present.

Concur currently has a Zacks Rank #3 (Hold). However, another software solution company that is performing well is Aspen Technology Inc. (AZPN) with a Zacks Rank #1 (Strong Buy).

Read the Full Research Report on HOT
Read the Full Research Report on CNQR
Read the Full Research Report on UAL
Read the Full Research Report on AZPN


Zacks Investment Research