SAP’s Concur inked a strategic partnership with China DataCom (CDC), a joint venture between SAP and China Communications Services. Concur is 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.
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.
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. 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.
• 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.
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.
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