Together with China DataCom Corporation, Concur's expansion
in China will help companies with
localization, globalization and digital transformation of T&E
processes
BEIJING, Dec. 1, 2016 /PRNewswire/ -- Concur, an SAP
(NYSE: SAP) company and 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. As part of its continued
commitment to the Chinese marketplace, Concur announced a strategic
partnership with China DataCom Corporation Limited (CDC), a joint
venture between SAP and China Communications Services Corporation
Limited, a China Telecom company. 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.
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Today, 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.1
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. Highlights
include:
- 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.
"China represents an enormous
market opportunity, and we look forward to expanding the services
we already offer multinational Chinese companies," said
Mike Eberhard, Concur Global
President. "China DataCom Corporation enables us to provide the
best travel and expense management services for Chinese companies
in the cloud. This is only the beginning as Concur will continue to
invest in localization, globalization and digital transformation,
working through CDC and other partners together in China to support Chinese companies both
locally and abroad," he added.
"As a joint venture between SAP and China Communications
Services Co., Ltd., CDC is an important cloud service provider in
China possessing a safe,
standardized and efficient cloud service system," said Chen
Xiaomin, General Manager of China DataCom Corporation. "Through
this partnership, we will enable Concur's cloud-based products to
deliver the world's leading applications and first-class localized
services to more Chinese companies."
About Concur
Concur, an SAP company, imagines the way the world should work,
offering cloud-based services that make it simple to manage travel
and expenses. 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. Learn more at www.concur.cn.
CONTACT: concur@edelman.com
1 GBTA BTI Outlook – China 2016H2, GBTA Foundation, October 2016