Concur to transform expense systems
Concur, a US-based travel and expense management solutions provider, sees enormous market opportunities in the China market.
China, it said, has become the world’s largest market for business travel. “China represents an enormous market opportunity, and we look forward to expanding the services we already offer multinational Chinese companies,” said Mike Eberhard, president of Concur.
Apart from multinationals, Concur will serve local Chinese companies, Eberhard said. “We have been building local capability for the last five years.”
Concur’s cooperation agreements with China’s largest online travel agency Ctrip and ride-hailing app Didi Chuxing ensure most Chinese companies have a good local travel and expense management solution, Eberhard added.
According to the Global Business Travel Association, China’s business travel market reached $291.2 billion in 2015, up 11.4 percent year-on-year, surpassing the US market’s $290 billion. It forecasts that total business travel expenses of China will grow by more than 10 percent in 2016 to $320 billion.