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Concur vs Expensify
September 27, 2023 | Author: Michael Stromann
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SAP Concur's easy-to-use business travel and expense management software solution helps your business save time, money and gain control. The Concur booking tool makes business travel a snap—starting with customized options that align with your company policies. You can also upload electronic folios, directly to expense reports. Concur provides full visibility into spend and the ability to ensure policy and regulatory compliance.
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Simplified expense reporting your employees will love. Streamline the way your employees report expenses, the way expenses are approved, and the way you export that information to your accounting package.
Concur and Expensify are both popular expense management tools that help businesses streamline their expense processes. However, they have some key differences in terms of features, pricing, and target market.
Concur, owned by SAP, is a comprehensive expense management platform that offers a wide range of features for expense reporting, travel booking, and invoice management. It integrates with various financial and travel systems, providing a seamless end-to-end solution for managing expenses. Concur is often favored by large enterprises that require advanced customization, global compliance, and integration capabilities. Its pricing is typically based on a per-user, per-month subscription model.
Expensify, on the other hand, is a user-friendly expense management tool that focuses on automating expense reporting and simplifying the reimbursement process. It offers features such as receipt scanning, automatic expense categorization, and policy enforcement. Expensify is popular among small to mid-sized businesses and individual users due to its ease of use and affordable pricing plans, which are often based on a per-user, per-month or per-transaction model.
See also: Top 10 Expense Management software
Concur, owned by SAP, is a comprehensive expense management platform that offers a wide range of features for expense reporting, travel booking, and invoice management. It integrates with various financial and travel systems, providing a seamless end-to-end solution for managing expenses. Concur is often favored by large enterprises that require advanced customization, global compliance, and integration capabilities. Its pricing is typically based on a per-user, per-month subscription model.
Expensify, on the other hand, is a user-friendly expense management tool that focuses on automating expense reporting and simplifying the reimbursement process. It offers features such as receipt scanning, automatic expense categorization, and policy enforcement. Expensify is popular among small to mid-sized businesses and individual users due to its ease of use and affordable pricing plans, which are often based on a per-user, per-month or per-transaction model.
See also: Top 10 Expense Management software
Concur vs Expensify in our news:
2016. Travel and expense management platform Concur acquired travel search Hipmunk
Concur, the renowned travel and expense platform, acquired by SAP for $8.3 billion in 2014, has recently announced its latest acquisition. Concur is purchasing Hipmunk, a travel search startup, with plans to seamlessly integrate it into its existing platform. While Concur already offers search capabilities, as a current Concur user, I can confirm that there is room for improvement, which Hipmunk's inclusion is expected to address effectively. Concur has a history of acquiring startups to enhance its functionalities, such as TripIt, which enables users to track and share travel plans, and investments made in ClearTrip. This acquisition reflects Concur's commitment to continually enhance its platform and provide a comprehensive travel and expense management solution.
2015. Expensify added new travel site integrations
Expense management service Expensify is taking a further step in simplifying expense reports by announcing integrations with various travel-related services. Instead of forwarding travel receipts to receipts@expensify.com, users now have the option to book their trips through the partner service of their preference. The booking information will automatically be transmitted to Expensify for reporting purposes. This feature not only saves users the hassle of manually compiling expense reports for business trips but also addresses the issue of "leakage," where an increasing number of individuals are booking their travel outside of standard corporate systems. Expensify's initial travel partners include NuTravel, Egencia, Locomote, NexTravel, Uber, Priceline, Hipmunk, and Rocket Trip. The company also plans to incorporate GetThere, Amadeus, Atlas Travel, and Airbnb in the future.
2014. Expense management service Expensify targets Concur customers
Facebook has recently introduced a new advertising platform known as Atlas, which focuses on targeting users across various websites using their Facebook information. Facebook acquired Atlas from Microsoft last year. This platform aims to compete with Google's AdWords by allowing advertisers to display ads that track users on both web and mobile platforms. Advertisers have the flexibility to purchase ads on external websites and apps while also having the option to integrate the Facebook social network. Instead of relying on cookies, Facebook utilizes the user's Facebook login details. Although this approach may not be well-received by Facebook users, it presents an alternative for advertisers and serves as a competitor to Google AdWords.
2014. SAP acquires travel and expense management service Concur
SAP has made a significant move by acquiring Concur, the expense and travel management solution, for a whopping $8.3 billion. Concur boasts an impressive user base of approximately 25 million individuals across more than 150 countries. Interestingly, in 2011, Concur itself acquired the travel organizer TripIt. This acquisition places SAP in control of Concur and allows them to claim ownership of 50 million cloud users. As part of this agreement, Concur will collaborate with SAP to develop mobile applications that are contextually aware, while SAP will begin utilizing Concur's travel and expense management services. The acquisition is projected to conclude either in the fourth quarter of this year or the first quarter of 2015.
