DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/sznwwz/global_travel_and) has announced the addition of the "Global Travel and Expense Management Software Market 2012-2016" report to their offering.
The analysts forecast the Global Travel and Expense Management Software market to grow at a CAGR of 6.16 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to reduce travel expenses and operational costs. The Global Travel and Expense Management Software market has also been witnessing the emergence of SaaS-based travel and expense management software. However, the high cost of implementation could pose a challenge to the growth of this market.
The key vendors dominating this market space include are Technologies Inc., Infor Global Solutions Inc.; KDS AG, and SAP AG.
The other vendors mentioned in the report are Automatic Data Processing, Inc., Certify, LLC, CyberShift Inc., Ellucian Company L.P, Expense On Demand, IBM Corp., Nexstep Infotech Pvt. Ltd., Oracle Corp., and Replicon Inc.
Commenting on the report, an analyst from the team said: 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 solutions are 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 solutions 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.
According to the report, one of the major drivers is the need to reduce travel expenses and operational costs. Of the total expenses incurred by enterprises, a significant amount of capital is invested in employees' travel. Hence, there is a need to reduce travel expenses in order to bring down the overall expenses incurred by enterprises. Expense and travel management software helps reduce such expenses by streamlining the administration of organizations and facilitating data tracking and auditing.
For more information visit http://www.researchandmarkets.com/research/sznwwz/global_travel_and
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