The expense management software market size is expected to grow from USD 3,215.8 million in 2019 to USD 7,306.7 million by 2027, growing at a compound annual growth rate (CAGR) of 11.5% during the forecast period. states the recent Market Research Future (MRFR) analysis. In Travel and Expense Management Software Market share An expense management software tool helps enterprises in streamlining and automating processes for delivering expense report management. It has multiple advantages such as reimbursing expenses reports along with its growing perks, employee expense reports processing, and reduction in efforts and time for hassle-free submission and approval. Mobile terminal, PC terminal, and others are the different types of expense management software that has wide applications in large businesses, mid-sized businesses, and small businesses.
This software aids employees to manage as well as report their business expenditure. Besides, the expense management software is used via finance teams for managing travel requests, expense reports, and reimbursements. The software will help to streamline each facet of expense management for minimizing the perils related to traditional expense management. The automated expense management software, along with eliminating the hidden costs and risks included in expense reporting, also at the same time eases the process in its entirety. Above all, it reduces unnecessary manual work both for employees & finance teams.
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Various factors are propelling the global expense management software market share. As per the current MRFR report, such factors include an increase in consumers’ disposable income that has resulted in the huge adoption of smartphones & adoption of expense management software, reduction in smartphone prices, the emergence of 5G that is crucial for constantly growing adoption of smartphones, and constant developments in network technologies like 4G/LTE, and 3G. Additional factors adding market growth include improved financial security, scalability, increasing productivity, controlling costs, monitoring employee expenditure, and centralization of expense-related data in enterprises.
On the contrary, security concerns & lack of interoperability are factors that may limit the global expense management software market growth over the forecast period. Also, the COVID-19 impact is also hampering the market growth.
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Expense Management Software Market Key Players
Key players profiled in the global expense management software market report include –
- Coupa Software Inc. (U.S.),
- Oracle (U.S.),
- Xero Limited (New Zealand),
- Insperity (U.S.),
- Infor Inc. (U.S.),
- Expensify (U.S.),
- Sodexo (France),
- Zoho Corporation Pvt. Ltd (India),
- Intuit Inc. (U.S.),
- IBM Corporation (U.S.),
- SAP Concur (U.S.), and
- Workday Inc. (U.S.)
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
3 Market Insights
4 Market Dynamics
4.1 Overview
4.2 Drivers
4.2.1 Centralization Of Enterprise Expense-Related Data
4.2.2 Increase In The Adoption Of Mobile Applications To Monitor Expenses
4.3 Restraint
4.3.1 Lack Of Interoperability And Security Concerns
4.4 Opportunity
4.4.1 Integration With Predictive Analytics
4.5 Impact Of COVID-19 On The Market
4.5.1 Introduction
4.5.2 Transformation Of Businesses
4.5.3 Growing Adoption Of Cloud-Based Model
4.5.4 Increase In The Revenue Of Expense Management Software & Services Vendors
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5 Market Factor Analysis
5.1 Value Chain Analysis
5.1.1 Designers & Programmers
5.1.2 Solution Developers
5.1.3 System Integrators
5.1.4 End User
5.2 Porter’s Five Forces Model
5.2.1 Threat Of New Entrants
5.2.2 Bargaining Power Of Suppliers
5.2.3 Threat Of Substitutes
5.2.4 Bargaining Power Of Buyers
5.2.5 Intensity Of Rivalry
6 Global Expense Management Software Market, By Type
6.1 Overview
6.2 PC Terminal
6.3 Mobile Terminal
7 Global Expense Management Software Market, By End User
7.1 Overview
7.2 Small Business
7.3 Midsized Business
7.4 Large Enterprises
8 Global Expense Management Software Market, By Vertical
8.1 Overview
8.2 BFSI
8.3 IT & Telecom
8.4 Retail & E-Commerce
8.5 Transportation & Logistics
8.6 Manufacturing
8.7 Government & Public Sector
8.8 Energy & Utilities
8.9 Others
9 Global Expense Management Software Market, ByRegion
9.1 Overview
9.2 US
9.3 Europe
9.4 China
9.5 Japan
9.6 India
9.7 Southeast Asia
10 Competitive Landscape
10.1 Competitive Scenario
10.2 Key Developments
11 Company Profiles
11.1 IBM Corporation
11.1.1 Company Profile
11.1.2 Business Overview
11.1.3 Financial Overview
11.1.4 Products/Services/Solutions Offered
11.2 Oracle Corporation
11.2.1 Company Profile
11.2.2 Business Overview
11.2.3 Financial Overview
11.2.4 Products/Services/Solutions Offered
11.3 SAP SE (SAP Concur)
11.3.1 Company Profile
11.3.2 Business Overview
11.3.3 Financial Overview
11.3.4 Products/Services/Solutions Offered
11.4 Sodexo
11.4.1 Company Profile
11.4.2 Business Overview
11.4.3 Financial Overview
11.4.4 Products/Services/Solutions Offered
11.5 Intuit Inc.
11.5.1 Company Profile
11.5.2 Business Overview
11.5.3 Financial Overview
11.5.4 Products/Services/Solutions Offered
11.6 Insperity
11.6.1 Company Profile
11.6.2 Business Overview
11.6.3 Financial Overview
11.6.4 Products/Services/Solutions Offered
11.7 Infor
11.7.1 Company Profile
11.7.2 Business Overview
11.7.3 Financial Overview
11.7.4 Products/Services/Solutions Offered
11.8 Workday Inc
11.8.1 Company Profile
11.8.2 Business Overview
11.8.3 Financial Overview
11.8.4 Products/Services/Solutions Offered
11.9 Xero Limited
11.9.1 Company Profile
11.9.2 Business Overview
11.9.3 Financial Overview
11.9.4 Products/Services/Solutions Offered
11.1 Coupa Software Inc
11.10.1 Company Profile
11.10.2 Business Overview
11.10.3 Financial Overview
11.10.4 Products/Services/Solutions Offered
11.10.5 Key Development
11.11 ZOHO Corporation Pvt Ltd
11.11.1 Company Profile
11.11.2 Business Overview
11.11.3 Products/Services/Solutions Offered
11.12 Expensify Inc.
11.12.1 Company Profile
11.12.2 Business Overview
11.12.3 Products/Services/Solutions Offered
11.13 Certify Inc.
11.13.1 Company Profile
11.13.2 Business Overview
11.13.3 Products/Services/Solutions Offered
11.14 Gusto
11.14.1 Company Profile
11.14.2 Business Overview
11.14.3 Products/Services/Solutions Offered
11.15 Receipt Bank
11.15.1 Company Profile
11.15.2 Business Overview
11.15.3 Products/Services/Solutions Offered
11.16 Apptricity Corporation
11.16.1 Company Profile
11.16.2 Business Overview
11.16.3 Products/Services/Solutions Offered
11.17 PaySimple
11.17.1 Company Profile
11.17.2 Business Overview
11.17.3 Products/Services/Solutions Offered
11.17.4 Key Development
11.18 Nexonia
11.18.1 Company Profile
11.18.2 Main Business/Business Overview
11.18.3 Product/Solution Offered
11.19 ExpensePath Inc
11.19.1 Company Profile
11.19.2 Business Overview
11.19.3 Products/Services/Solutions Offered
11.2 GlobalPoint Technologies Inc
11.20.1 Company Profile
11.20.2 Business Overview
11.20.3 Products/Services/Solutions Offered
11.21 SumTotal Systems LLC
11.21.1 Company Profile
11.21.2 Business Overview
11.21.3 Products/Services/Solutions Offered
11.22 Replicon
11.22.1 Company Profile
11.22.2 Business Overview
11.22.3 Product/ Solutions/ Software Offered
11.23 Yourpeople Inc.(Zenefits)
11.23.1 Company Overview
11.23.2 Main Business/Business Overview
11.23.3 Product/ Software/Solution Offered
11.24 Torqus
11.24.1 Company Overview
11.24.2 Main Business/Business Overview
11.24.3 Products/Services/Solutions Offered
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