REDMOND, Wash., September 20, 2005 - Concur Technologies, Inc. (NASDAQ: CNQR), the world's leading provider of business services that automate Corporate Expense Management, has been named among the top five worldwide software on-demand vendors by IDC, the premier global provider of market intelligence, advisory services, and events. According to IDC's report, Worldwide Software on Demand 2004 Vendor Analysis: Top 25 On-Demand Providers Take Shape (IDC #33879, September 2005), Concur topped the list, ranking #5 based on recurring revenue generated in 2004.
"Our latest research indicates there's a high level of interest and adoption associated with the on-demand delivery model and Concur's Corporate Expense Management solution is helping to extend the awareness and appeal of this business model," said Erin Traudt, Software as a Service Research Analyst at IDC. "Concur's commitment to the on-demand model has earned the company a place among the top on-demand software providers."
Concur made the strategic decision to begin delivering its Corporate Expense Management software as a service over five years ago. Today, thousands of customers in over 60 countries around the world have adopted Concur solutions to help them automate their entire expense reporting process, with the vast majority subscribing to Concur's on-demand services. During the past year, Concur grew year-over-year customer bookings over 50%, while year-over-year subscription business grew more than 30%.
"Already the world's leading provider of Corporate Expense Management services, Concur is pleased to be recognized by IDC as one of the world's top five on-demand service providers in terms of 2004 revenues," said Steve Singh, chairman and CEO of Concur Technologies. "As the only expense automation service provider to make IDC's top 25 list, Concur is committed to helping companies of all sizes streamline and control their entire expense reporting process with minimal capital investment and little or no internal IT support. The ultimate beneficiary of Concur's leadership in delivering on-demand services is the customer, who enjoys all the benefits of expense report automation - but with stronger ROI, faster deployment and lower upfront costs."
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