SaaS-based expense management solutions automate all components of expense management processes such as expense analysis, expense reporting, travel booking, employee reimbursement, and others. It helps the expense manager to have greater control and reduce reporting errors. In addition, this helps businesses to significantly lower their expense, improve the operational efficiency, and speed up the processes by providing cost benefits. These SaaS-based expense management solutions not only track the expenses but also perform, predictive analysis, historical spend analysis, and other similar functions.
Continuous increase in requirement to have better expense visibility drives the market. In addition, rise in need to reduce expenses and operational costs as well as increased adoption of end-to-end expense management solutions also propel the growth of the market. However, availability of in-house expense management systems and data security issues limit the growth of the market. Furthermore, broader access to expense portals through mobile apps and increase in need for visibility into expenditure is expected to provide numerous opportunities for this market.
The SaaS-based expense management market is segmented on the basis of product type, end user, and region. Product type segment covered in the study includes web-based expense management and cloud based expense management. Based on end user, the market is classified into small and medium business, and large business. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global SaaS-based expense management market is dominated by key players such as IBM Corporation, Oracle Corporation, Concur Technologies Inc., Ariba, Inc., Apptricity Corporation, CyberShift, Inc., Insperity, Inc., Infor Global Solutions, Inc., SutiSoft, Inc., and Nexonia.
- The study provides an in-depth analysis of the global SaaS-based expense management market and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities is provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
SaaS-based Expense Management Market Key Segments:
By Product Type
- Web-Based Expense Management
- Cloud Based Expense Management
By End User
- Small and Medium Business
- Large Business
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- IBM Corporation
- Oracle Corporation
- Concur Technologies Inc.
- Ariba, Inc.
- Apptricity Corporation
- CyberShift, Inc.
- Insperity, Inc.
- Infor Global Solutions, Inc.
- SutiSoft, Inc.