Travel & Expense Management Software Market Research Report covers the present scenario and the growth prospects of the Travel & Expense Management Software Industry for 2016-2020. Travel & Expense Management Software Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years and discussion of the key vendors effective in this market. To calculate the market size, the report considers the revenue generated from the sales of Travel & Expense Management Software globally.
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The Travel & Expense Management Software report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.
Following Companies Are Key Players of the Travel & Expense Management Software Market:
Other Prominent Vendors of Travel & Expense Management Software Market Are:
“One of latest trends in the market is broader access to travel and expense portal through mobile apps. Businesses need to stay connected around the clock. Mobile devices keep employees connected, and this has increased the demand for uninterrupted connectivity between corporate networks and the mobile devices of employees. This has also encouraged employees to use their personal portable devices such as cell phones, tablets, and laptops to access and store confidential information. The increasing adoption of mobile devices is a major trend witnessed in the global travel and expense market. Mobile devices such as smartphones, laptops, and tablets are increasingly being used by enterprises and employees to book tickets, change their flights, locate their luggage, and submit expense sheets from Android, Windows, Blackberry, and iOS devices. Employees can create and manage expense reports from mobile devices and send it to the manager in charge of authorizing reimbursement.”
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According to the Travel & Expense Management Software report, one of the primary drivers in the market is emergence of SaaS-based travel and expense management software. The global travel and expense management software market is currently witnessing the emergence of SaaS-based travel and expense management software. Large enterprises and SMEs need travel and expense management software to control and maintain the overall travel expenses and other expenses of each employee. With the emergence of cloud computing, many companies are attempting to move their informational data to a hosted system. SaaS-based travel and expense management software is cost effective as the installation and maintenance of these solutions do not require any extra cost. The major end-users for these solutions are SMEs. Since SMEs do not have adequate capital for their IT infrastructure and staff, they are increasingly adopting SaaS-based travel and expense management software for advanced travel and expense management capabilities. Hence, many vendors are offering flexible payment options to customers with respect to their usage of cloud-based travel and expense management software. In addition, there is no need for technical support staff, as such tasks are performed by SaaS-based travel and expense management software vendors.
Report also presents Geographical Segmentation analysis of Travel & Expense Management Software Market of Americas, APAC, EMEA region.
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Further, the Travel & Expense Management Software report states that one major challenge in the market is shortage of skilled professionals. Implementing travel and expense management software in enterprises is very complex and requires extensive training for the end-users to understand its functions. Without proper training, employees are unable to operate the software. This, in turn, slows down the process of extracting required information, reducing the efficiency of the enterprises. Developing countries such as China and India are still lagging in terms of adoption of travel and expense management software because of lack of proper training and education. In addition, vendors in these countries are unaware of the benefits of employing travel and expense management software in enterprises as they believe that the same function can be achieved by manpower rather than software. Also, those who have adopted this technology do not have the sufficient knowledge to use it to its optimum efficiency. Hence, the lack of skilled professionals is a major challenge to the adoption and usage of travel and expense management software.
Key questions answered in Travel & Expense Management Software market report:
No of Pages: 59
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