Concur Technologies

Concur Technologies is a leading provider of travel management and expense management solutions, founded by Steve Singh in 1993. The company has been at the forefront of innovation, leveraging cloud computing and mobile technology to deliver its services to clients such as IBM, Microsoft, and Oracle Corporation. With a strong focus on user experience, Concur Technologies has developed a range of products and services that cater to the needs of business travelers and financial managers at companies like Google, Amazon, and Facebook. The company's solutions have been integrated with popular platforms like Salesforce.com and SAP SE, enabling seamless data integration and workflow automation.

● History

Concur Technologies was founded in 1993 by Steve Singh, who served as the company's Chief Executive Officer until its acquisition by SAP SE in 2014. During its early years, the company focused on developing expense management solutions for small and medium-sized enterprises (SMEs) like Dell and Intel Corporation. In the early 2000s, Concur Technologies expanded its product offerings to include travel management solutions, partnering with travel agencies like Expedia and American Express. The company's growth was fueled by investments from venture capital firms like Greylock Partners and Bessemer Venture Partners, as well as strategic partnerships with technology companies like Cisco Systems and Hewlett Packard Enterprise. Concur Technologies also collaborated with industry associations like the Global Business Travel Association and the National Business Travel Association to promote best practices in travel management.

● Products and Services

Concur Technologies offers a range of products and services that cater to the needs of business travelers and financial managers at companies like Apple, McDonald's, and Coca-Cola. The company's flagship product, Concur Expense, is a cloud-based expense management solution that enables users to track and manage their expenses on the go, using mobile apps like iOS and Android. Concur Technologies also offers Concur Travel, a travel management solution that allows users to book flights, hotels, and car rentals online, using online travel agencies like Booking.com and Kayak. The company's products have been integrated with popular accounting software like QuickBooks and Xero, enabling seamless data integration and workflow automation with financial institutions like JPMorgan Chase and Bank of America.

● Acquisition and Merger

In 2014, Concur Technologies was acquired by SAP SE for $8.3 billion, marking one of the largest software acquisitions in history, comparable to Oracle Corporation's acquisition of PeopleSoft and Microsoft's acquisition of LinkedIn. The acquisition was seen as a strategic move by SAP SE to expand its cloud computing offerings and strengthen its position in the enterprise software market, competing with IBM, Microsoft, and Oracle Corporation. Following the acquisition, Concur Technologies continued to operate as a separate entity, with Steve Singh serving as the company's Chief Executive Officer until 2017, when he was succeeded by Mike Eberhard. The company's products and services have been integrated with SAP SE's existing offerings, including SAP ERP and SAP CRM, to provide a comprehensive enterprise software solution to clients like Siemens and Bosch.

● Technology and Innovation

Concur Technologies has been at the forefront of innovation, leveraging artificial intelligence and machine learning to develop new products and services, partnering with research institutions like Massachusetts Institute of Technology and Stanford University. The company has developed a range of mobile apps that enable users to track and manage their expenses on the go, using natural language processing and image recognition technologies, similar to those used by Google and Amazon. Concur Technologies has also invested in blockchain technology, exploring its potential applications in travel management and expense management, collaborating with industry leaders like Accenture and Deloitte. The company's products have been integrated with popular virtual assistants like Siri and Alexa, enabling users to manage their expenses and book travel arrangements using voice commands, similar to those used by Apple and Amazon.

● Company Operations

Concur Technologies is headquartered in Bellevue, Washington, with offices in North America, Europe, and Asia-Pacific, serving clients like Toyota and Honda. The company employs over 4,000 people worldwide, with a diverse workforce that includes software developers, data scientists, and customer support specialists, similar to those at Google and Microsoft. Concur Technologies has a strong focus on corporate social responsibility, with initiatives aimed at reducing its carbon footprint and promoting sustainable travel practices, partnering with environmental organizations like The Nature Conservancy and World Wildlife Fund. The company has also established partnerships with non-profit organizations like Habitat for Humanity and American Red Cross, supporting their disaster relief efforts and community development programs, similar to those supported by IBM and Cisco Systems. Category:Software companies