Concur Exceeds Revenue and Earnings Expectations For Second Quarter of Fiscal 2011
finance.yahoo.com
Recent Business Highlights
* Concur acquired TripIt – the market leader in mobile trip management. This acquisition extends Concur's reach to the business traveler audience, fundamentally supports and extends the Concur Connect Platform and provides new revenue streams for Concur beyond the traditional subscription revenue model.
* Concur announced the launch of Concur Japan, which includes investment from SunBridge Corporation, the firm responsible for the Salesforce.com Japan joint venture, and Marc Benioff, acting as a minority direct investor. This joint venture positions Concur to meet the demands of the increasing number of corporations in Japan and throughout Asia that are turning to cloud computing and mobile solutions to help them control expenses.
* Concur announced the launch of Concur India – a move that perfectly aligns with the company's strategic initiatives to expand its existing customer base while also expanding into new geographic markets.
* Concur announced a strategic alliance with privately held Cleartrip, India's leading online travel portal, which includes a $40 million strategic investment for a minority interest in Cleartrip.
* Concur hosted more than 1,350 attendees at Fusion – the company's premier client event – in Las Vegas, Nevada. Attendees at this year's sold-out conference took advantage of opportunities to consult with Concur product experts, network with their peers, and learn about Concur's solutions. Next year's Fusion event will take place May 8-11, 2012 at the Hilton Bonnet Creek in Orlando, Florida.
* Concur launched Concur® Breeze – the online and mobile expense reporting service designed specifically for small businesses – in the U.K. to help SMBs in that region streamline the entire expense management process by automatically creating expense claims using electronic data imported directly from both personal and corporate credit card charges.
* Concur added new mobile features to Concur Breeze giving small businesses one app that takes care of all their expense reporting right from a smartphone, with no PC or browser required.
* Concur announced that clients can now automatically receive detailed folio data and e-receipts from participating La Quinta hotels – downloaded directly into Concur users' expense reports. Through Concur® Connect – the global program that connects suppliers from around the world and provides clients exclusive access to services otherwise unavailable though traditional travel programs – La Quinta joins a growing list of travel suppliers that not only feed complete electronic folio data in the form of e-receipts directly into Concur, but also provide Concur clients with broad access to travel inventory.
* Concur announced the availability of a new set of open APIs (application programming interfaces) that enable customers to seamlessly integrate with and extend the capabilities of Concur's products and services. These newest components of the Concur Connect Platform – an open, standards-based framework that allows customers, partners, and third-party developers to connect to and extend Concur's travel and expense management data and capabilities – enable clients to develop additional functionality to meet their organization's specific travel and expense management needs.
* Concur announced that its travel and expense mobile app for Android™, BlackBerry®, iPhone and iPad users now features enhanced language support including U.S. and U.K. English, French, French Canadian, German, Italian and Spanish, along with enhanced travel and expense functionality and new third-party mobile applications – all in a sleek interface designed to take advantage of the native environment of many popular mobile platforms.
* TripIt announced the release of its free iPad application in the iTunes store. Now, travelers can access all their trip reservations in one place on the top-ranking tablet – including air, hotel, entertainment and more – plus an exclusive master map feature for iPad users that captures the entire trip with individual maps provided on each page of the itinerary.
* TripIt was awarded the 2011 Webby for Travel - Mobile & Applications at the 15th Annual Webby Awards, which celebrates the best of the Internet.
* Gartner, Inc. has ranked Concur as the largest SaaS provider within the ERP market based on total software revenue for 2010. Additionally, Gartner, Inc. has ranked Concur as one of the top ten market share leaders in ERP Software Worldwide based on total software revenue for 2010. (Gartner, Inc., Market Share Analysis: ERP Software, Worldwide 2010, Chris Pang, April 25, 2011). |
