IDC Worldwide Travel and Expense Management Software Market Shares 2023
We are excited to share that SAP has once again been ranked #1 for worldwide 2023 market share in travel and expense management software, as confirmed in the latest IDC Worldwide Travel and Expense Management Software Market Shares 2023 Report.
Despite rising costs and an unpredictable economic environment, there is a notable resurgence in the demand for face-to-face interactions, leading to a significant rebound in business travel. Technology undeniably plays a crucial role in transforming the landscape of business travel. In this report, IDC highlights key trends influencing the industry and travel and expense management software:
- Integration of Employee Spend: There is a growing push to unify travel, expense, and accounts payable into a single, cohesive system to ensure data integrity and streamline processes.
- Enhanced Travel Compliance: Clear travel policies and automated expense management solutions simplify compliance, offering real-time visibility and greater control over travel expenditures.
- Mobile Functionality Expansion: As the demand for on-the-go capabilities increases, solutions must provide easy expense submissions, receipt capture, and approval tracking.
- Accelerated Insights for Users: Organizations can support financial agility by transitioning end users from edge case functionality to automation, data management, dashboarding, and analytics.
The double-digit revenue growth that SAP experienced in 2023—14% year over year—we believe underscores the impact of our investments in SAP Concur solutions to best serve customers. To learn more details, download the IDC WorldWide Travel and Expense Management Software Market Shares, 2023 report excerpt.
