"We have something big here, guys": SAP Chief Executive Bill McDermott to analysts, while making the acquisition announcement
Walldorf, Germany and Bellevue, Washington(US) September 20 2014: SAP’s subsidiary, SAP America, Inc., is to acquire Concur, a leading global business travel solution provider, with significant Indian DNA. The deal is worth $ 8.3 billion
With more than 23,000 customers, 4,200 employees and 25 million active users in over 150 countries, Concur is the leader in the multi-billion space for travel and expense (T&E) management software. With Concur, SAP’s business network – the world’s largest – will transact more than US$600 billion annually, deliver frictionless commerce across more than 25 different industries and address annual corporate travel spend of US$1.2 trillion worldwide.
Said Bill McDermott, CEO of SAP: “The acquisition of Concur is consistent with our relentless focus on the business network. We are making a bold move to innovate the future of business within and between companies. With Ariba, Fieldglass and Concur, SAP is the undisputed business network company. We are redefining how businesses conduct commerce across goods and services, contingent workforces, travel and entertainment. With the SAP HANA platform, the possibilities to innovate new business models around Concur and the network are limitless.”
Added Steve Singh, CEO of Concur: “We have always been focused on making solutions for real customer problems, and with SAP we have a great opportunity to advance that mission. We are constantly seeking innovative ways to deliver the best customer experience and we’re excited about leveraging SAP technology, including HANA as we scale globally."
Founded in 1993, Concur is the world's leading global business travel solution that focuses plainly at reducing business costs by employing automated and innovative methods.Concur's easy to use travel expense management solutions have helped companies across the world to reduce the time and effort spent in monitoring and reporting the expense made on business travel. Concur's systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. With a user friendly web-based solution and mobile app Concur has removed the stress out of travel expense reporting. The system can be configured as per company's terms and condition of global business travel policies; this helps organisations to regulate compliance better. The system automatically captures the expense made during the travel and reconciles expenses after travel is completed. Moreover, the system receives electronic receipts from airlines, hotels etc. to the expense reports; thus relieving the employees of having to key in itemisations for certain expenses manually.
Concur's mobile app makes sure that employees do not lose their productive hours even as they travel for business purpose. The mobile application enables business travelers to create, review and approve expense reports; also book and change travel itineraries like hotels, airfare, taxi, rail and hire cars - all from their smartphone.
Concur has a Research & Development team in India since 2005 and is investing to expand this team in Bangalore. It has Sales and Marketing offices in Mumbai, Delhi and Bangalore.