REDMOND, Wash., September 06, 2006 - Concur Technologies, Inc. (NASDAQ: CNQR), the world's leading provider of on-demand business services that automate Corporate Expense Management (CEM), today announced that recent findings from an independent survey by Aberdeen Group, Inc. reveal that 26% of respondents plan on adopting an end-to-end travel booking and expense reporting solution within the next two years. The Travel & Entertainment (T&E) Expense Management Report focuses on the challenges companies face in efficiently managing T&E expenses, which, according to Aberdeen, account for approximately 8% to 10% of total operating expenses, on average.
"The results of Aberdeen Group's 2006 Travel & Entertainment Expense Management Report point to a significant increase in companies looking to unite their corporate travel and expense management processes," said Vishal Patel, research analyst for Aberdeen Group. "End-to-end solutions from service providers like Concur can offer companies more control over all the processes from booking through to reimbursement and auditing. Such solutions are well-positioned to take advantage of this increased interest in technologies that encourage policy compliance while providing greater visibility into T&E spend."
A result of surveys with procurement, finance and travel executives from over 290 companies - the report also points out that the lack of compliance with T&E policies and the lack of visibility into T&E spend are the two biggest challenges facing finance executives and travel managers. Survey respondents revealed that, on average, approximately 20% of T&E spend is out of policy and that 44% are making the adoption of technology to improve visibility into T&E spending a top priority.
"This latest independent industry report simply reinforces Concur's vision, which is now being realized with the delivery of our unique end-to-end service which seamlessly unites travel booking and expense management into one process," said Rajeev Singh, president and COO of Concur Technologies. "Concur's end-to-end solution enables our customers to compare booking and itinerary data to actual expense data, giving them unprecedented visibility into their employees' business travel expenses and helping them to establish a closed-loop process that experts like Aberdeen Group consider to be an industry best practice."
More information about Aberdeen Group's Travel & Entertainment Expense Management Report can be found here: http://www.aberdeen.com/includes/asp/sponsored_registration.asp?ci=/launch/
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