Explaining the Importance of Travel and Expense Solutions

The global business travel market size was valued at USD 1,380 billion in 2023 and is projected to grow to USD 2,700 billion by 2032 according to the Global Business Travel Association (GBTA). Business travel recovered to its pre-pandemic levels in 2024, but it’s not as easy as saying it’s back to "normal". Corporate travel is constantly evolving and organizations need to keep a close track on key trends to ensure their travel and expense policies keep up and are fit for purposes.

Considering that after payroll, travel-related spend is often the second largest line item on a business’s budget, organizations must manage all that money effectively. Customers who invest in travel and expense solutions can automate these processes, reduce out of policy spend, provide duty of care to their employees, and gain greater visibility into all their employee spend channels.

SAP Concur is the world’s leading provider of travel and expense (T&E) management solutions. With over 30 years in this market sector, SAP Concur has re-imagined and transformed the experiences of business travelers and organization leaders by continually innovating and improving upon our suite of products. Being 100% cloud based since 1998 has meant that our solutions are fully scalable and used by over 48,000 customers across the globe, from small start-ups to the largest government agencies.

The following video provides an overview of our evolution and key moments on our organization’s time line.

• The global business travel market is growing rapidly, making effective travel and expense management critical for organizations.

• SAP Concur automates travel, expense, and invoice processes, reducing manual work and increasing spend visibility.

• Key SAP Concur innovations include cloud-based solutions, travel and expense integration, and embedded AI technology and agents.

• Integration with SAP strengthens SAP Concur solutions and expands its customer reach.

• Customers benefit from automation, improved policy compliance, better visibility, and enhanced employee experiences.