Concur Technologies Inc.(CNQR) recently announced that its subsidiary – Concur Japan, Ltd. – has collaborated with Japan-based ABeam Consulting Ltd. to develop advanced indirect expense-management solutions.
The partnership requires the two companies to integrate their strengths in the indirect expense-management domain so as to design an efficient structure that would lead to improved customer experience.
ABeam Innovative Cost Optimization Solutions (ABeam ICOS), when combined with Concur’s cloud service, will bring services like invoice collation, processing of payment, operational execution and even customer assistance under one system. This will not only facilitate better data collection and analysis leading to enhanced decision-making regarding expenses, but also offer services for mitigating risks.
ABeam ICOS is a comprehensive service which conducts everything from optimization of cost structure to reform and deployment of business processes. This firm, when coupled with Concur’s cloud offering, will create significant value for companies in Japan and Asia by providing them with comprehensive expense-management solutions which will improve their cost-structures and in turn, enhance competitiveness.
This news follows the Sep 18 announcement of Concur’s acquisition by SAP SE (SAP) subsidiary – SAP America – forming the second largest cloud company worldwide. SAP will be paying $129 per Concur share, reflecting a 21% premium over the Sep 17 closing price and an enterprise value of $8.3 billion. (Read: SAP-Concur Deal to Shape the Largest Business Network).
The acquisition, scheduled to be closed by fourth-quarter 2014 or latest by first-quarter 2015, has led to a gain of about 17.8% in company’s shares so far.
Concur currently has a Zacks Rank #3 (Hold). Two better-ranked companies in the computer software sector are Aspen Technology, Inc. (AZPN) and Park City Group Inc. (PCYG). Both sport a Zacks Rank #1 (Strong Buy).
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