Concur to Expand Business in China
Together with China DataCom Corporation, Concur's expansion in China will help companies with localization, globalization and digital transformation of T&E processes
BEIJING, Dec. 1, 2016 /PRNewswire/ -- Concur, an SAP (NYSE: SAP) company and the world's leading provider of integrated travel and expense management solutions, is the only travel and expense provider in China capable of supporting multinational companies. As part of its continued commitment to the Chinese marketplace, Concur announced a strategic partnership with China DataCom Corporation Limited (CDC), a joint venture between SAP and China Communications Services Corporation Limited, a China Telecom company. This supports Concur's ongoing China Expansion Plan which places a focus on delivering localized and global expense management solutions for Chinese companies. This will not only provide companies better control over their travel and expense management, but also enable them to create The Perfect Trip and lead to a new era of innovation for China's rapidly growing business travel market.
Today, China is the world's largest market for business travel. GBTA research shows that China's business travel market reached $291.2 billion in 2015, a year-over-year increase of 11.4 percent, and surpassed the U.S. market of $289.8 billion.1 In addition, the wide adoption of new technologies, including cloud computing, big data and mobile technology, is driving Chinese companies to digitize their businesses as they grow organically and through acquisitions.
To address the China marketplace, Concur will build upon the services it delivers today to a number of Chinese companies. Concur's investment in its China Expansion Plan demonstrates the company's commitment to providing integrated travel and expense management services to a broad range of fast-growing Chinese multi-national companies. Highlights include:
- Localization: Concur's expense management services, localized specifically for Chinese businesses, ensures compliance with China's financial management policies, including value-added tax reform requirements and other regulations. Concur also partners with innovative Chinese companies like Ctrip and DiDi Chuxing to deliver an integrated travel and expense management solution specifically for China business travel.
- Globalization: Concur has more than 20 years of global experience, which provides valuable knowledge to companies in China. This experience with international and local laws enables Chinese companies to achieve compliance and efficient expense management as they grow internationally. Concur also cooperates with a wide variety of global business partners to help companies ease overseas expense management, including ensuring the duty of care of employees who travel internationally and helping companies recover significant overseas value added tax (VAT) rebates.
- Digital Transformation: Concur enables Chinese companies to digitize significant financial processes. Through digital transformation, companies can benefit from increased efficiency, while eliminating human errors. Concur captures employee spending and delivers insightful reporting to corporate management and finance teams anytime, anywhere. In these reports, Concur aggregates travel pre-approval, travel booking, employee expense and credit card transaction data into a single, unified system, resulting in a comprehensive view of employee spending, which enables companies to carry out appropriate expense management measures. Concur will continue to bring more innovative technologies in cloud computing, big data and mobile technology into corporate financial management, helping to accelerate finance transformation.
"China represents an enormous market opportunity, and we look forward to expanding the services we already offer multinational Chinese companies," said Mike Eberhard, Concur Global President. "China DataCom Corporation enables us to provide the best travel and expense management services for Chinese companies in the cloud. This is only the beginning as Concur will continue to invest in localization, globalization and digital transformation, working through CDC and other partners together in China to support Chinese companies both locally and abroad," he added.
"As a joint venture between SAP and China Communications Services Co., Ltd., CDC is an important cloud service provider in China possessing a safe, standardized and efficient cloud service system," said Chen Xiaomin, General Manager of China DataCom Corporation. "Through this partnership, we will enable Concur's cloud-based products to deliver the world's leading applications and first-class localized services to more Chinese companies."
About Concur
Concur, an SAP company, imagines the way the world should work, offering cloud-based services that make it simple to manage travel and expenses. By connecting data, applications and people, Concur delivers an effortless experience and total transparency into spending wherever and whenever it happens. Concur services adapt to individual employee preferences and scale to meet the needs of companies from small to large, so they can focus on what matters most for their businesses. Learn more at www.concur.cn.
CONTACT: [email protected]
1 GBTA BTI Outlook – China 2016H2, GBTA Foundation, October 2016
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SOURCE Concur
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