Concur Technologies, Inc. was incorporated in 1993 as Portable Software, and soon offered as its first product a shrink-wrapped retail application to automate travel and expense (T&E) reporting for individuals. It expanded its product line in 1996 by offering a client-server travel and expense package called Xpense Management Solution(XMS), and again in 1998 by bringing XMS to the Intranet. The Intranet version of XMS - recently renamed Concur Expense- now accounts for the majority of Concur's travel and expense-related revenues, which in turn are the bulk of the company's overall revenues.
Concur has recently been expanding its capabilities through acquisition. The ten-person 7Software was acquired in 1998 - two years after 7Software was incorporated. 7Software had a product called CompanyStorethat was to be used to automate the procurement of routine items such as office supplies, furniture, computers and expendables; these are generally referred to as MRO goods (for "Maintenance, Repair and Operations"). It was at this time that Portable Software changed its name to Concur and announced its EmployeeDesktoptm (now called Concur eWorkplace) strategy of moving past the T&E market. The new strategy is to offer a single desktop platform for all in-house functions, including T&E, procurement, Self-Service Human Relations (SSHR), time and attendance, and facilities management.
In June 1999 Concur acquired Seeker Software, a provider of Web-based human resource self-service applications, in order to incorporate The Seeker Workplace(now called Concur Human Resources), Seeker's suite of HR employee and managerial self-service Web-based applications, into EmployeeDesktop(now called Concur eWorkplace, see below).
In October of 1999 the company renamed its product line to Concur eWorkplace. This product promises workplace access to T&E management, travel booking, Web-based purchasing, HR processing, and other functions yet to be named. Its announcement was marred by a simultaneous release of preliminary fourth-quarter financial results significantly below analyst expectations - the difference was approximately $3 million out of an expected $12 million. Chairman/CEO S. Steven Singh, a co-founder with Michael Hilton, attributed the shortfall to unexpected delays in closing business, due in part to a lengthening of the sales cycle brought on by their introduction of three new products during that quarter. Concur has had some concerns about its sales force as the company has transitioned from a single product to a corporate portal positioning, and has addressed these with new hires at all levels.
Concur has attempted to paint itself as the challenger to Ariba, the acknowledged leader in E-procurement applications, although Concur is not the clear number two in that market. However, Concur's wider strategy of being a single solution for all of what it calls the "workplace eCommerce solutions" certainly calls for it to go head-to-head with the E-procurement leader. This is because E-procurement is widely seen as the most significant business-to-business application area. It is the one that most significantly impacts a corporation's profitability.
Concur has recently been expanding its capabilities through acquisition. The ten-person 7Software was acquired in 1998 - two years after 7Software was incorporated. 7Software had a product called CompanyStorethat was to be used to automate the procurement of routine items such as office supplies, furniture, computers and expendables; these are generally referred to as MRO goods (for "Maintenance, Repair and Operations"). It was at this time that Portable Software changed its name to Concur and announced its EmployeeDesktoptm (now called Concur eWorkplace) strategy of moving past the T&E market. The new strategy is to offer a single desktop platform for all in-house functions, including T&E, procurement, Self-Service Human Relations (SSHR), time and attendance, and facilities management.
In June 1999 Concur acquired Seeker Software, a provider of Web-based human resource self-service applications, in order to incorporate The Seeker Workplace(now called Concur Human Resources), Seeker's suite of HR employee and managerial self-service Web-based applications, into EmployeeDesktop(now called Concur eWorkplace, see below).
In October of 1999 the company renamed its product line to Concur eWorkplace. This product promises workplace access to T&E management, travel booking, Web-based purchasing, HR processing, and other functions yet to be named. Its announcement was marred by a simultaneous release of preliminary fourth-quarter financial results significantly below analyst expectations - the difference was approximately $3 million out of an expected $12 million. Chairman/CEO S. Steven Singh, a co-founder with Michael Hilton, attributed the shortfall to unexpected delays in closing business, due in part to a lengthening of the sales cycle brought on by their introduction of three new products during that quarter. Concur has had some concerns about its sales force as the company has transitioned from a single product to a corporate portal positioning, and has addressed these with new hires at all levels.
Concur has attempted to paint itself as the challenger to Ariba, the acknowledged leader in E-procurement applications, although Concur is not the clear number two in that market. However, Concur's wider strategy of being a single solution for all of what it calls the "workplace eCommerce solutions" certainly calls for it to go head-to-head with the E-procurement leader. This is because E-procurement is widely seen as the most significant business-to-business application area. It is the one that most significantly impacts a corporation's profitability.
