Concur Announces Strategic Alliance with IBM
Under the terms of the agreement, IBM will actively promote Concur's cloud-based expense management solutions to IBM Global Expense Reporting Solutions clients, who will continue to receive the expertise and support of IBM's Global Process Service and Business Process Outsourcing operations while migrating to Concur's market-leading travel and expense management platform, which is used by customers in over 150 countries.
"IBM and Concur are pioneers in delivering world-class solutions and together we serve the largest companies in the world. For 20 years, Concur has defined the market for automated expense management and reporting with a full complement of solutions that help companies and their employees with travel services, booking, expense reimbursement, spend management and invoice processing. We are thrilled to enter into this alliance with IBM to help their customers experience the same benefits as Concur's 20,000 current customers and the 25 million travelers they represent," said John Torrey, EVP, Corporate Strategy of Concur.
IBM will continue to provide T&E back office services to clients who procure expense services and solutions from Concur as part of IBM's broad portfolio of business process solutions.
"As the leader in providing an open platform that offers end to end integrated travel management, Concur is the logical partner for IBM to deliver continued innovation in T&E services to our clients," said Sandy Khanna, Global Practice Leader of IBM Global Process Services. "We are currently seeing a fundamental shift in the T&E market toward end-to-end integrated travel management and Concur offers the leading solution for transforming the efficiency and effectiveness of the T&E process."
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This press release contains forward-looking statements that are inherently uncertain. These forward-looking statements are based on current expectations and involve many risks and uncertainties that could cause actual results to differ materially from current expectations. Factors that could cause or contribute to actual results differing from current expectations include, but are not limited to: potential delays in market adoption and penetration of our service offerings; potential difficulties associated with our deployment and support of our products and services; our ability to manage expected growth of our service offerings; retention and expansion of customer relationships; continued use and adoption of our cloud-based services; the scalability and security of our computer networks and hosting infrastructure for our subscription service offerings; risks associated with the privacy and protection of information while in our possession; changes in the level of business travel that may reduce the use of our products and services or inhibit new sales of our integrated products and services; potential difficulties associated with strategic relationships and with development of new products and services; uncertain market acceptance of our products and services or future products and services; the overall level of customer demand for our offerings; potential difficulties or delays in connection with business and asset acquisitions; adverse economic or market conditions, which may cause customers and prospects to delay or reduce purchases of our products and services, cause customers to reduce business travel and correspondingly reduce the use of our products and services, reduce the ability of customers, channel partners, vendors and suppliers to fulfill their obligations to us, increase volatility of our stock price and foreign exchange rates, and otherwise adversely affect our operations and financial performance; and risks associated with our financing and investment activities.
Please refer to Concur's public filings made with the SEC (http://www.sec.gov) for additional and more detailed information on risk factors that could cause actual results to differ materially from current expectations. Concur assumes no obligation to update the forward-looking information contained in this press release.
Concur® is a leading provider of integrated travel and expense management solutions. Concur's easy-to-use Web-based and mobile solutions help companies, federal agencies and their employees control costs and save time. Concur's open platform enables the entire travel and expense ecosystem of customers, suppliers, and developers to access and extend Concur's T&E cloud. Concur's systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. Learn more at http://www.concur.com or the Concur blog.