Expense Management Software Market 2020
An expense management software is a financial management software tool that assists enterprises in automating and streamlining the process of expense report management and approval. It significantly reduces the time and efforts required for submitting, approving, and processing employee expense reports, as well as reimbursing the expenses.
The expense management software market is expected to witness significant growth. The market growth is attributed due to the centralization of enterprise expense-related data. The global economy has witnessed constant alterations due to technological advancements, that enable businesses and employees to function efficiently. Centralizing all-expense-related data along with utilizing expense management software enables employees of an organization to review, monitor, and submit expense reports on the go. It also eliminates data entry errors and examines the expense report quickly and accurately while providing visible insights into the expense management software system.
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Key Players of Expense Management Software Industry:
Some of the key players of expense management software market include are IBM Corporation (US), Oracle (US), SAP Concur (US), Sodexo (France), Intuit Inc. (US), Insperity (US), Infor Inc. (US), Workday Inc. (US), Xero Limited (New Zealand), Coupa Software Inc. (US), Zoho Corporation Pvt. Ltd. (India), and Expensify (US).
The Expense Management Softwaremarket report has been compiled by taking a hard look at the various drivers and challenges to be faced during the period of 2020 to 2024. It begins with a comprehensive summary of the market beginning with the definition and its appeal among end users. The factors and challenges are described in great detail to serve as precautionary measures followed by the scope in various regions. The main players are profiled with their strategies, annual earnings, and dividends.
However, the lack of interoperability along with security concerns remains a major concern for the growth of the expense management software market during the forecast period.
The global expense management software market is expected to reach USD 6,599.2 million by 2025 growing at a 12.4% CAGR during 2018–2025.
The Expense Management Softwaremarket touches on various factors with the impact of macro and micro economic factors put in the mix. The drivers are explained and exemplified by recent findings and news. Their function as growth enablers and their place during the forecast period is discussed. The challenges are discussed with respect to the industry, changing economic scenario, external and internal factors, government policies, and others. Measurement of volume and value and the supply chain, change in growth strategies, SWOT analysis, market shares, and other metrics are explored as well.
The Expense Management Softwaremarket report is segmented into sub-segments with their valuation, growth factors, and restraints described in great detail. Insights on performance, product benchmarking, process efficiency, and SWOT analysis are used as metrics to be measure growth and loss of growth. Sales and distribution channels are used in making valuations and future projections. Value and supply chains and their inefficiencies in addition to new methodologies, import-export data, and the regulations are taken into consideration.
The Expense Management Softwaremarket report has been collated on the basis of primary and secondary research. The first stage involves the procurement of raw information from archives, the Internet, and news clippings. The annual financial dealings of companies are studied as well as their investments in new facilities or innovations or products. The success and failure of new products and services are judged based on customer response and recorded accordingly.
The projections of value and volume are given based on the primary data. Secondary research entails the validation and veracity of the data through newspapers, press releases, and other third-party databases. Assistance of subject matter experts and heads of corporations are used in predicting the size of the market accurately.
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Table of Contents – Major Key Points
1 Executive Summary
2 Market Introduction
3 Market Insights
4 Research Methodology
5 Market Dynamics
6 Market Factor Analysis
7 Global Expense Management Software Market, By Type
8 Global Expense Management Software Market, By End User
9 Global Expense Management Software Market, By Region
10 Competitive Landscape
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