Concur CEO Steve Singh (Part 8)

Monday, August 13, 2007 | 1 comment

SM: Most of the expense reporting is around travel. However, there are other expenses to be incurred, right? SS: That is exactly correct, there are expenses which occur outside of travel. The same solutions can be applied whether it is business travel or taking a client out for lunch.

The core point is that as you are conducting business, why can’t we intelligently gather the right information so you really have very little do to file your expense report. That is why we acquired Outtask. We combine these processes together as one and then, say as you book a trip, we will capture all of that itinerary data. We already capture all of the credit card data, so we will reconcile the itinerary data to the credit card data and then we are going to introduce this novel concept called smart expenses.

These take the itinerary data, the corporate card data, and also the e-receipts we are capturing from suppliers. We combine these three things together which are completely reconciled; we know you booked it, it showed up on the credit card and here is the electronic invoice from the supplier. We know everything we need to know about this expense so we are going to put it in the expense report for you. You don’t need anything, not even the paper receipt anymore. That was a big change a year ago, and our competitor market looked at it and said it would not fly with our customers. What we have seen is just the exact opposite.

SM: Whom do you consider your competitors? SS: If I were to look at the competitive landscape, the ones we spend our time worrying about are American Express, SAP, Oracle, IBM, Carlson Wagonlit, EDS, and Accenture.

SM: Accenture because they build custom solutions? SS: They build custom solutions and they are also very big into BPO solutions also.

This segment is part 8 in a 13 part series Segment 9 →
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