Concur Technologies

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Concur Technologies
Type Subsidiary of SAP
Industry Software (Travel & Expense Management)
Founded 1993
Headquarters Bellevue, Washington, USA
Key people Steve Singh, Chairman of the Board & CEO
Rajeev Singh, President & COO
Frank Pelzer, CFO
Kyle R. Sugamele, Chief Legal Officer & Corporate Secretary
Michael W. Hilton, Executive Vice President, Worldwide Marketing
Employees 3,000+
Website www.concur.com

Concur Technologies is an American provider of travel and expense management services. It is headquartered in Bellevue, Washington.[1]

Current status[edit]

The company was co-founded by Steve Singh, its CEO and Chairman of the Board. It has grown to more than 15,000 clients and 15 million travelers in over 90 countries. The company completed fiscal 2011 with total revenue of $349 million.[2]

Concur is headquartered in Bellevue, Washington, with additional offices in Vienna, Virginia, Eden Prairie, Minnesota, Europe, Asia, and Australia.[1]

Some statistics about the company are:

  • It was number 57 on Forbes Magazine's 100 Best Small Companies in 2010[3]
  • It was number 2 on CIOZone's 50 Fastest-Growing Software Companies in 2009[4]
  • It was number 28 on Business 2.0's 100 Fastest-growing tech companies list for 2007[5] and number 79 on BusinessWeek's "top 100 small companies to watch"[6]
  • 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.[7]

On 18 September 2014 it was announced that SAP SE would acquire Concur in a deal that valued Concur at approximately US$8.3Bn [8]

Controversies[edit]

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 had left it before graduation.[9] Nevertheless, the board of Concur 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".[9]

Acquisitions[edit]

The following is a list of acquisitions by Concur:

  • GDSX, TRX (July 2013)[10]
  • conTgo (Mar 2013)[11]
  • GlobalExpense (July 2011)[12]
  • TripIt (January 2011)[13]
  • Etap-On-Line (completed August 1, 2009)[14]
  • Gelco (completed October 1, 2007)[15]
  • Outtask (2006)[16]
  • Captura (2002)[17]
  • Seeker Software (1999)[18]
  • 7Software (1998)[19]

Products[edit]

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.

Key competitors[edit]

According to a recent report from TechNavio,[20] 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[edit]

SAP to Acquire Concur Technologies [21] for $8.3 Billion US. [22]

See also[edit]

External links[edit]

References[edit]

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