SaaS-based Expense Management Market By Component (Solution, Services), By Type (Travel and Expense Management, Telecom Expense management), By Enterprise Size (Large Enterprise, Small and Medium Scale enterprise), By Industry Vertical (Manufacturing, Media and Entertainment, Healthcare, Travel and Tourism, Energy and Utility, IT and Telecom, Retail and E-commerce, BFSI, Government and Public Sector, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Software-as-a-service (SaaS)-based expense management solution automates all components of expense management processes such as expense analysis, expense reporting, travel booking, and employee reimbursement. It further helps the expense manager to manage and reduce their reporting errors during work. In addition, this helps businesses to significantly lower their expense, improve the operational efficiency, and speed up the processes by providing cost benefits. Furthermore, SaaS-based expense management solution not only tracks the expenses but also performs predictive analysis, historical spend analysis, and other similar functions.
The growth of the global SaaS-based expense management market is majorly driven by increase in penetration of smartphones and rise in use of app-based services. In addition, rise in need to reduce expenses and operational costs as well as increased adoption of end-to-end expense management solutions, further propel the growth of the market. However, lack of security of data over cloud platform and high initial investment for SaaS-based application act as the key deterrent factors of the global market. On the contrary, increase adoption of mobile or app based software as well as adoption of SaaS-based technology across various industry verticals are anticipated to provide lucrative opportunities for the market growth in the future.
The global SaaS-based expense management market is segmented into component, type, organization size, industry vertical, and region. By component, the market is segregated into solution and service. On the basis of type, it is bifurcated into travel expense management and telecom expense management. Depending on industry vertical, it is fragmented into manufacturing, media & entertainment, healthcare, travel & tourism, energy & utility, IT & telecom, retail & e-commerce, BFSI, government & public sector, and others. As per organization size, it is categorized into small- & medium-sized enterprises and large-scale enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the SaaS-based expense management market include Apptricity Corporation, Ariba, Inc., Concur Technologies, Expensify, IBM Corporation, Infor Global Solutions, Inc., Insperity, Inc., Nexonia, Oracle Corporation, Sutisoft, Inc.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the SaaS-based expense management market along with the current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the SaaS-based expense management market size is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the global SaaS-based expense management market.
The quantitative analysis of the SaaS-based expense management market from 2021 to 2031 is provided to determine the SaaS-based expense management market potential.
Key Market Segments
By Component
Solution
Services
By Type
Travel and Expense Management
Telecom Expense management
By Enterprise Size
Large Enterprise
Small and Medium Scale enterprise
By Industry Vertical
Manufacturing
Media and Entertainment
Healthcare
Travel and Tourism
Energy and Utility
IT and Telecom
Retail and E-commerce
BFSI
Government and Public Sector
Others
By Region
North America
U.S.
Canada
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
IBM CORPORATION
ORACLE CORPORATION
CONCUR TECHNOLOGIES INC.
ARIBA, INC.
APPTRICITY CORPORATION
CONCUR TECHNOLOGIES
INSPERITY, INC.
INFOR GLOBAL SOLUTIONS, INC.
SUTISOFT, INC.
NEXONIA
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook