Concur Technology Inc. (CNQR) provided latest update for its Concur® Breeze and Concur® Premier clients to help them to manage and eliminate paper from their businesses. Through the newly introduced technology, called the Receipt Store, clients will be able to email their receipt images to a central repository and easily assign them to line-item expenses. The clients will get increased number of option for handling their receipts and invoice images, which will help them to get rid of costs related to handling of associated papers.
Cooper’s latest innovations facilitate employees to rapidly and effortlessly present expenses and provide their companies with improved visibility into the line item details of every expense report. Some of the technologies introduced by the company for time and money saving include New Receipt Store, Mobile Receipt Imaging, Fax/Scan and Attach and E-receipts. Extended services from Cooper, which help the clients to off-loan the entire imaging process includes Paper Receipt Handling and Invoice Capture.
The company continues to invest in expanding its distribution capacity to drive strong customer growth and boost its business performance. The recently made Triplt acquisition and new launched products support the company’s future growth prospects.
Concur Technologies is a provider of business services that automate the processes involved in the management of corporate expense. Concur focuses on reducing costly and inefficient expense processes in businesses of all sizes, by streamlining the reimbursement processes, reducing operating costs, improving internal controls, and enabling customers to apply greater insight into their spending patterns through analytics. Major competitors of Concur are Compuware Corporation (CPWR), Oracle Corp. (ORCL) and SAP AG (SAP).
We currently maintain our Neutral rating on Concur Technologies, with a Zacks #4 Rank (Sell recommendation) over the next one-to-three months.
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