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SAP Concur

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For the word, see Concur on Wiktionary.
Concur
IndustrySoftware (Travel & Expense Management)
Founded1993
HeadquartersBellevue, Washington, USA
Key people
Steve Singh, CEO
Rajeev Singh, Co-Founder
Michael W. Hilton, Co-Founder
Elena Donio, President
Number of employees
4,600+
ParentSAP SE
Websitewww.concur.com

Concur Technologies is an American travel management company, providing travel and expense management services to businesses. It is headquartered in Bellevue, Washington.[2] Concur entered into an agreement to be acquired by SAP SE in September 2014 for $8.3 billion.[3] The acquisition was completed on December 4, 2014.

Current status

The company was co-founded by Steve Singh, its CEO and Chairman of the Board. It has grown to more than 20,000 clients and 25 million travelers in over 100 countries. The company completed fiscal 2011 with total revenue of $349 million.[4]

Concur is headquartered in Bellevue, Washington, with additional offices in Vienna (Virginia), Eden Prairie (Minnesota), Europe, Asia, and Australia.[2]

Some statistics about the company are:

  • It was number 57 on Forbes magazine's 100 Best Small Companies in 2010[5]
  • It was number 2 on CIOZone's 50 Fastest-Growing Software Companies in 2009[6]
  • It was number 28 on Business 2.0's 100 Fastest-growing tech companies list for 2007[7] and number 79 on BusinessWeek's "top 100 small companies to watch"[8]
  • The company was named to the Seattle Times NW 100 ranked at #12 and was previously ranked at #4. To rise to the top of The Seattle Times' rankings, companies must excel over a two-year span on four performance measurements: return on equity, stock-price appreciation, sales per employee and operating income.[9]

On 18 September 2014 it was announced that SAP SE entered into an agreement to acquire Concur in a deal that valued Concur at approximately US$8.3Bn [10]

Controversies

The company made news in March 2009 when it was uncovered that Steve Singh, its president and CEO, did not graduate from the University of Michigan with an engineering degree as had been previously claimed in corporate filings (until 2007). While Mr. Singh had attended the university, he left before graduation to pursue his entrepreneurial interests.[11] The board of Concur expressed confidence in his abilities and retained Singh in his current positions and said that they continued to have "complete confidence" in him following the disclosure, while expressing "regret that the mistake occurred".[11]

Acquisitions

The following is a list of acquisitions by Concur:

  • GDSX, TRX (July 2013)[12]
  • conTgo (Mar 2013)[13]
  • GlobalExpense (July 2011)[14]
  • TripIt (January 2011)[15]
  • Etap-On-Line (completed August 1, 2009)[16]
  • Gelco (completed October 1, 2007)[17]
  • Outtask (2006)[18]
  • Captura (2002)[19]
  • Seeker Software (1999)[20]
  • 7Software (1998)[21]

Products

Concur's on-demand software as a service (SaaS) solutions include:

Concur Travel & Expense
web and mobile solutions for travel and expense management. It includes corporate travel booking, expense report automation, reimbursement, audit, and business intelligence, and corporate card integration. It is offered in multiple editions (Small Business, Standard, Concurforce, Professional, Premium)
TripIt
mobile travel organizer for individuals, with more than 5 million users.

In 2013, Concur's iOS app was selected by Apple for "Editor's Choice" category.

Key competitors

According to a recent report from TechNavio,[22] Concur's key competitors include Ariba(SAP), IBM, Oracle, Apptricity, Cybershift, Insperity, Infor Global Solutions, and SutiSoft. A few of these vendors - Oracle and Sutisoft in particular - are focusing on providing integration platforms for end-to-end SaaS solutions.

Acquired by SAP

SAP has entered into an agreement to acquire Concur Technologies [23] for $8.3 Billion US. [24] The acquisition was completed on December 4, 2014.

See also

References

  1. ^ "Company Profile for Concur Technologies (CNQR)". Retrieved 2008-10-23.
  2. ^ a b [1]
  3. ^ "SAP to Acquire Concur, Expanding the World's Largest Business Network". SAP News.
  4. ^ Concur Technologies, Inc. (CNQR.O): Financials & Financial Statement Analysis
  5. ^ "#57 Concur Technologies". Forbes. October 14, 2009.
  6. ^ [2]
  7. ^ Business 2.0 – 100 Fastest-growing tech companies
  8. ^ BusinessWeek, June 4, 2007 – Hot Growth, By Christopher Palmeri – The Shock Of The Old
  9. ^ DeSilver, Drew. "Buyouts reshape region's business". The Seattle Times.
  10. ^ "SAP to Acquire Concur, Expanding the World's Largest Business Network". SAP News.
  11. ^ a b Brennan, Peter J.; Hart, Dan (22 March 2009). "Concur Technologies Board Supports Chairman Singh". Bloomberg.
  12. ^ http://www.rttnews.com/2151879/concur-technologies-acquires-gdsx-trx.aspx
  13. ^ http://techcrunch.com/2013/03/11/concurs-travel-shopping-spree-continues-buys-contgo-for-its-travel-based-messaging-platform
  14. ^ http://www.concur.com/en-us/media-resources/press-releases/07-05-11
  15. ^ http://blog.tripit.com/2011/01/tripit-joins-concur-to-become-bigger-better-and-stronger.html
  16. ^ [3]
  17. ^ "Gelco sold to Concur Technologies". July 30, 2007.
  18. ^ Concur splurges $88m on Outtask | Software as Services | ZDNet.com
  19. ^ InternetNews Realtime IT News – Concur Technologies Acquires Captura
  20. ^ CONCUR TECHNOLOGIES INC - CNQR Securities Registration Statement (S-1/A) RISK FACTORS
  21. ^ CNET - Portable's new identity
  22. ^ TechNavio identifies Concur Technologies as a Major Vendor in Global SaaS-based Expense Mgmt Market
  23. ^ [4]
  24. ^ {http://dealbook.nytimes.com/2014/09/18/sap-buys-concur-technologies-for-8-3-billion/?_php=true&_type=blogs&_r=0]
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