New Global SaaS-based Expense Management Market Report Released
March 26, 2014
By Jyothi Shanbhag, TMCnet Contributor
In recent years, the SaaS (News - Alert)-based expense-management market has grown moderately, with good adoption rates. Organizations have begun to realize the need for centralizing expense-related management, and travel-related compliances have been the key reason for this growing trend.
TechNavio, a company that specializes in data center market research, recently published a report on the Global SaaS-based Expense Management market for the year 2013, which discusses significant trends expected for the market in the coming years.
As per the research report, the Global SaaS-based Expense Management market is expected to grow at a CAGR of 19.20 percent over the period of 2013-2018. The Americas, the EMEA and APAC regions are mainly covered in the report which analyzes growth prospects in the future.
The report contains market and vendor landscape supported by drivers, restraints and trends. It also contains an analysis of key vendors in the market.
The research is the outcome of a comprehensive market analysis with contributions from industry specialists and talks about the key vendors operating in the market such as Ariba Inc., Concur Technologies Inc., IBM (News - Alert) Corp., and Oracle Corp.
It also includes vendors that are core compliance, spend-management solution providers, as well as vendors that provide expense management solutions as a part of their other IT offerings.
Apptricity Corp., Cybershift Inc., Insperity Inc., Infor Global Solutions (News - Alert) Inc., and SutiSoft Inc. are a few other members whose input was sought for the report.
According to the TechNavio's findings, the main reason contributing to this market growth is the need to reduce expenses and operational costs. Though the global SaaS-based expense management market has also seen the increased acceptance of end-to-end expense management solutions, data security has been a major concern as well for the continued growth of this market.
Edited by Rory J. Thompson