Leading expense and travel management solutions provider, Concur Technologies Inc. (CNQR) has formed a strategic alliance with United Airlines in an attempt to diversify corporate booking options. Through this collaboration, the companies intend to develop and facilitate corporate direct travel bookings on united.com and United apps utilizing Concur's TripLink product.
With the help of TripLink, corporate travelers will now be able to connect their Concur and MileagePlus profiles to get company benefits while booking directly with United Airlines. At the same time, employers will also benefit from prompt reporting, policy compliance and duty of care requirements through Concur.
This partnership is expected to generate significant synergies for both the companies. Importantly, this deal will primarily generate increased savings as Concur TripLink allows travelers to benefit from their corporate programs while booking flights directly with United Airlines. Therefore, with a more comprehensive view of travel transactions, both the travelers and the companies attain better visibility and control over their dealings. Further, through TripLink, companies will advantage from improved traveler tracking. The link will also help travel management companies (TMCs) to enhance the entire flying experience. To add to the slew of positives, travel managers and their TMCs will have an insight into the complete analysis of the corporate travel data which can be used to drive real-time programs and services to increase compliance with travel requirements.
Thus, it can be concluded that this collaboration primarily aims at providing customers with a detailed report on spending and enhanced visibility of their travel plans, thereby facilitating better travel management.
Concur currently holds a Zacks Rank #3 (Hold). Some better-ranked companies in the sector include Aspen Technology Inc. (AZPN), Autodesk, Inc. (ADSK) and Citrix Systems Inc. (CTXS). All three sport a Zacks Rank #1 (Strong Buy).