ORLANDO, Fla, AUGUST 2, 2004 (NBTA BOOTH #639 & 1538) - Concur Technologies, Inc. (NASDAQ: CNQR), the world's leading provider of Corporate Expense Management solutions and Runzheimer International, one of the world's leading international consulting firms specializing in travel program, policy, and cost benchmarking information, today announced the two companies have forged an exclusive partnership that will deliver relevant and reliable benchmarking information to travel managers within the Concur Expense solution.
This new service - called Concur Benchmarking Service - is the first to integrate benchmarking into an automated corporate expense management system, putting the latest travel and entertainment (T&E) pricing information at the fingertips of travel managers. By integrating benchmarking functionality within Concur Expense Service, managers and administrators have instant access to current travel pricing benchmarks that they can use to more effectively establish and enforce policies for all facets of T&E spending including airfare, hotels, car rentals, and per-diems.
"Both companies are recognized as pioneers in their respective industries. Not only does this service provide customers with the most reliable benchmarking information but it does so within the framework of an expense management system," says Rex Runzheimer, president for Runzheimer International. "By integrating these solutions, companies can save money by directly influencing employee spending practices and improving management controls. This represents merely the first step in what we believe will be a long and fruitful partnership, one which will enable customers to arm themselves with the pertinent travel information they need, when they need it."
Until now, travel managers who wished to establish best-practice corporate travel policies had no convenient source for obtaining relevant benchmarking information. Concur Benchmarking Service bridges this gap by providing actual current hotel, car and meal costs for 200 US and 100 international locations. The service also provides pricing information on airfares for 600 different US and international routes, enabling travel managers to create a baseline against which they can set corporate travel policies. These limits can then be enforced using the business rules within Concur Expense Service. In addition, Concur Benchmarking Service will empower managers to better estimate costs prior to initiating travel as well as leverage actual spending data to negotiate better rates with vendors. Concur Benchmarking Service - which also includes access to additional Runzheimer travel management resources, including policy and practice trends - is a Web-based solution and available to all Concur customers.
"Corporate travel managers are under increasing pressure to control costs and stabilize T&E spending," said Steve Singh, chairman and CEO of Concur Technologies. "This offering provides easy access to relevant benchmarking information in real-time, enabling managers to quickly and accurately set reasonable limits on T&E expenses. This new service is yet another example of how Concur is further evolving the corporate expense management category by delivering the latest innovations that drive costs out of businesses."
About Runzheimer International
Since 1933, Runzheimer International has served clients with the highest standards of objectivity, integrity and confidence. Runzheimer is a leader in assisting organizations in managing employee mobility, whether it be in the areas of travel management, business vehicles, employee relocation, or international assignments. Runzheimer serves more than 2,000 businesses and government agencies worldwide, including more than 60 percent of Fortune 500 companies. Products and services include travel management consulting and benchmarking services, employee fleet cost analysis, business driver allowance programs and administrative outsourcing services, and comparative cost analysis and other services to support decision making for company-sponsored relocations, compensation programs, and international assignments.
Robert Nachbar, BPR for Concur Technologies,
Heidi Skatrud, Runzheimer International,
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