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Concur Set to Conquer Enterprise Travel

Posted on Tuesday, Jun 12th 2007

I have written a few framework articles recently, defining Web 3.0 and Enterprise 3.0. In this article, I am going to cover a company that touches on these concepts, and aligns with the trends of where the Internet is heading.

Concur Technologies (Nasdaq: CNQR) is an on-demand, Software-as-a-Service SaaS provider that brings together travel and expense management for employees of an enterprise. It basically provides a system to reimburse employees’ expenses as well as pay invoices from vendors. Through the Concur Vendor Payment system, vendors can access a web-based platform to submit their invoices.

Another popular solution from the company is Cliqbook, a travel expense management solution.

Let me take you through this service through a scenario.

A company that uses Concur’s Cliqbook service is holding a training session for its employees in another city, say Washington. Cliqbook Travel would provide a list of the company’s preferred vendors, including hotels, airlines, taxi companies, etc. It would also provide access to other low cost vendors available. When an employee books his or her trip online using Cliqbook, the expense report for the trip would also be generated.

Another feature of Cliqbook called Cliqbook Meeting can also be used to generate invitations. Using the profiles from the database, one person can easily manage the bookings for a whole group of employees leaving for the training session.

These services sure fit the SaaS and Extended Enterprise trends of the Enterprise 3.0 model. It integrates the workflow of travel bookings and expense management beyond the walls of the enterprise, and brings into its fold the suppliers.

Concur’s financial performance over the years reflects the growing acceptance of its solutions. For two years the company has featured in Fortune’s list of 100 fastest growing small businesses. According to Concur’s 2007 Q2 filings, the company’s quarterly revenues rose 31% to $30.9 million from $23.5 million in the previous year. The earnings per share were $0.08. The rise can be attributed to a substantial increase in subscription revenues.

For the fiscal year 2007, analysts estimate earnings of $0.30 cents per share on sales of $124.9 million.

The company’s stock is currently trading around $20. It was upgraded from ‘Hold’ to ‘Buy’ as soon as the company declared its Q2 results and announced its Q3 outlook. It looks like the market is backing Concur on its promises. Volume on the stock is really low, indicating its yet undiscovered nature.

Concur Technologies, Inc. (CNQR)

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Rearden Commerce FKA Talaris and MyGazoo is providing a similar service, also and SaaS play. They have been at it for nearly 8 years, recapped at least 2x and have very little to show other than some press releases and some decent yet busy marketing

Dan Purell Tuesday, June 12, 2007 at 10:20 AM PT

Yes, I have covered Rearden before.

Sramana Mitra Tuesday, June 12, 2007 at 9:04 PM PT

[…] in the space. I did suggest Citrix as one exception, but players like Rightnow, Omniture, Taleo, Concur, etc. are more likely to find their exits in the arms of Oracle or Salesforce.com, or in a category […]

Sramana Mitra on Strategy » Blog Archive » SAP and Enterprise 3.0 Wednesday, June 27, 2007 at 7:04 AM PT

[…] in the space. I did suggest Citrix as one exception, but players like Rightnow, Omniture, Taleo, Concur, etc. are more likely to find their exits in the arms of Oracle or Salesforce.com, or in a category […]

Two Articles from Sramana Mitra on Enterprise 3.0 and SAP « From SAP to Enterprise Web 2.0 (and into Virtual Reality) Thursday, June 28, 2007 at 1:02 PM PT

[…] be organic, Oracle’s is likely to be via acquisitions. Citrix, Rightnow, Omniture, Taleo, Concur, etc. are very likely to find their exits in the arms of Oracle. This would enable Oracle to […]

Sramana Mitra on Strategy » Blog Archive » Oracle and Enterprise 3.0 Friday, June 29, 2007 at 7:28 AM PT

[…] Enterprise 3.0 players to build a larger SaaS play. A roll-up of Citrix, Rightnow, Omniture, Taleo, Concur, etc. would be an interesting way to consolidate the space, and for the time being, stave off […]

Sramana Mitra on Strategy » Blog Archive » Citrix’s Collaboration Business Offers Strategic Options Tuesday, July 3, 2007 at 7:27 AM PT

[…] travel and expense processing costs by streamlining the expense reporting process. It is one of the companies I have covered as part of my Enterprise 3.0 […]

Concur CEO Steve Singh (Part 1) - Sramana Mitra on Strategy Monday, August 6, 2007 at 8:24 AM PT