Concur Technologies Inc
) rose 0.6% on Wednesday following the company's announcement
about investment in San Francisco-based Visage Mobile Inc. The
investment is part of the company's Concur Perfect Trip Fund.
With this investment Concur expects to address its customers'
needs for innovative tools that are vital for managing business
travel expenses. The deal is of strategic importance for business
travel, expense management and mobility.
This investment will enable Visage to develop cost management
tools for business travelers. Mobile usage and business travel
have a significant correlation. Increased mobility provides scope
for more business travel, thereby leading to more mobile
expenses. Visage aims to develop and execute an effective mobile
program for optimizing such expenses, while enhancing the
customer's travel experience.
Prior to this, Concur and Visage together had taken a couple of
strategic initiatives to integrate their core expense products,
leading to the launch of Visage MXP, an automated expense
solution supporting the growing demand for Bring Your Own Device
Visage Mobile, is a SaaS Enterprise Mobility Management (EMM)
solution provider which uses data and analytics to address the
challenges of the Mobile Management industry. The core software
of Visage is Mobility Central that integrates the spend data on
mobile utility along with the customers and the devices used to
provide improved cost-efficiency, competitiveness and
productivity in the wireless industry.
Concur Perfect Trip Fund has nine other emerging firms in travel
and expense industry as its members. Concur's main aim behind
this fund is to create a healthy ecosystem that can provide a
global platform for innovative concepts in business travel
industry. This ecosystem is build upon Concur's open platform
T&E Cloud, which gives better insight and thereby supports in
managing business travel expenditure.
Concur currently carries a Zacks Rank #3 (Hold). Other stocks
within the sector worth mentioning include
Dassault Systems SA
Dealertrack Technologies, Inc.
), both of which carry a Zacks Rank #1 (Strong Buy), and
Advent Software, Inc.
), which carries a Zacks Rank #2 (Buy).
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