On April 11, 2013 Concur Technologies, Inc. (
) announced its new global partnership with Egencia, the business
travel division of Expedia Inc. (
). The strategic partnership is aimed to deliver an integrated
travel and expense management service, making the process faster,
easier and more accurate for mutual customers. Concur's existing
platform of integrated travel and expense management solutions
will be leveraged for this purpose.
Expedia is one of the world's leading travel services
companies. The company provides wholesale travel services to
offline retail travel agents and also operates as an online
travel company providing travel products and services to leisure
and corporate travelers.
Concur is the world's leading provider of on-demand corporate
expense management services. Concur's end-to-end corporate travel
and expense management service seamlessly unite online travel
booking with automated expense reporting. This strategic decision
of co-generic partnership is expected to benefit both the
Concur's Open Booking and expense management service will be
combined with Egencia's corporate travel booking and trip
management services. Trips booked and managed by Egencia will
automatically be added to Concur's expense. Itinerary details,
e-receipts and credit card charges will all be matched to produce
complete expense reports.
Currently, the service has been made available in the United
States and Canada. The service will be made available to
customers in the rest of the world later this year. Both the
companies are optimistic about this partnership. They feel that
the introduction of a combined service will make expensing
business travel easier and faster for client companies who plan
business travels, book and manage trips through Egencia and
manage expenses with Concur.
Concur currently holds a Zacks Rank #3 (Hold). Other notable
players in the industry include Blackbaud Inc (
) and Netsol Tech Inc (
), each having a Zacks Rank #1 (Strong Buy).
BLACKBAUD INC (BLKB): Free Stock Analysis
CONCUR TECH INC (CNQR): Free Stock Analysis
EXPEDIA INC (EXPE): Free Stock Analysis
NETSOL TECH INC (NTWK): Free Stock Analysis
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