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Concur vs Teampay
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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Teampay gives your organization an intuitive workflow and reporting for purchases. This adds security, accountability, and easy approval while giving employees autonomy over their purchasing process.
Concur and Teampay are both expense management platforms, but they differ in their approach and key features. Concur, owned by SAP, is a comprehensive and widely-used expense management solution that offers features like travel and expense tracking, receipt capture, reimbursement management, and integration with accounting systems. It provides tools for managing travel bookings, expense approvals, and reporting. Concur aims to streamline and automate the entire expense management process, from capturing receipts to reconciling expenses. On the other hand, Teampay is an expense management platform that focuses on budget control and spend management. It offers real-time budget tracking, automated approvals, and virtual cards for employees to make purchases. Teampay enables organizations to set spending limits, track expenses against budgets, and gain greater control over their spending. While Concur provides a comprehensive solution for travel and expense management, Teampay offers a more specialized platform with a strong emphasis on budget control and spend management.
See also: Top 10 Expense Management software
See also: Top 10 Expense Management software
Concur vs Teampay 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.
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.
