Expense Management Software Market Scope
Expense Management Software allows users to submit, track, process, and reimburse employee expenses. It is also used to invoice billable hours and/or reimbursable project expenses. There are three main users of expense management software such as employees, administrators, and bookkeepers, or accountants. Expense management software is integrated with time tracking software, payroll software or accounting software, workforce management software, and travel management software.
The market study is segmented by Type (PC Terminal, Mobile Terminal and Others), by Application (Small Businesses, Midsized Businesses and Large Businesses) and major geographies with country level break-up.
The market is fragmented by market-leading players, those are highly focusing on the production technologies, improving efficiency and service life. There are numerous market growth opportunities are in the market, which is captured by tracking the ongoing process initiatives and other business growth strategies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Expense Management Software market throughout the predicted period.
Workday Inc. (United States), SAP Concur (United States), IBM Corporation (United States), Intuit Inc. (United States), Zoho Corporation Pvt. Ltd (India), Sodexo (France), Expensify (United States), Infor Inc. (United States), Insperity (United States), Xero Limited (New Zealand), Oracle (United States), Coupa Software Inc. (United States) and Certify, Inc (United States) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Expense Management Software market by Type, Application and Region.
On the basis of geography, the market of Expense Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In July 2019, Certify, Inc./Chrome River, the largest independent portfolio of travel, expense, and payment solutions, announces the acquisition of Emburse, a leading startup provider of virtual and physical cards for business expenses and vendor payments.
In Feb 2020, Emburse announces the launch of Abacus Reach to streamline the process for non-employee expense reimbursement. Reach allows organizations to easily provide non-employee travelers with a mobile app-based solution which makes it simple to verify policy compliance, and capture and submit travel expenses in real time.
- Development in Technology Such as Emergence of Automation and Machine Learning
- Increasing Demand for Centralization Of Enterprise Expense-Related Data
- Rising Adoption Of Mobile Applications To Monitor Expenses
- Rising Demand for Visibility into Expenditure
- Integration With Predictive Analytics
- Interoperability and Security Concerns
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Expense Management Software Providers, Government Regulatory and Research Organizations and End-Use Industries
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