Global Travel and Expense Management Systems Market Overview:
Travel and Expense Management Systems are used to provide management related to travels, expense, and invoice. These systems process, pay, and audit employee-initiated expenses and are used by employees to travel claim benefits offered by their companies. These systems are compatible with desktops as well as mobile making claim process easier and eliminates paper trail and administrative effort. The increasing need to need to reduce operational costs and expenses in various industries has risen the adoption of travel and expense management systems.
- Need to Reduce Operational Cost and Expenses in End User Industries
- Demand for Hassle-Free Claim Of Travel & Expenses
- Rising Penetration of Smartphones
- Implementation of Artificial Intelligence
- Data and Privacy Concerns
- Adoption of Software-as-a-Service(SaaS)
- Development of Systems Supporting Multiple Languages
- Threat from Open-Source Travel and Expense Management Solutions
Some of the key players profiled in the report are Oracle Corporation (United States), Apptricity Corporation (United States), SAP SE (Germany), Basware (Finland), Expensify (United States), Chrome River Technologies (United States), Infor (United States), Coupa Software Incorporated (United States), Trippeo Technologies (Canada), Certify (United States), Journyx (United States), Xero (New Zealand), Harvest (United States), Ariett Business Solutions, Inc. (United States) and Abila (United States). Considering Market by Organization Size, the sub-segment i.e. Small and Medium Scale will boost the Travel and Expense Management Systems market. Considering Market by Subscription, the sub-segment i.e. Monthly will boost the Travel and Expense Management Systems market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Travel and Expense Management Systems market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Travel and Expense Management Systems market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Travel and Expense Management Systems Providers, Cloud Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.