Expense Management Software In 2021 - Latest Quadrant Ranking by 360Quadrants - PowerPoint PPT Presentation

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Expense Management Software In 2021 - Latest Quadrant Ranking by 360Quadrants

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Title: Expense Management Software In 2021 - Latest Quadrant Ranking by 360Quadrants


1
www.360quadrants.com
  • Expense Management Software In 2020 - Latest
    Quadrant Ranking by 360Quadrants

2
Expense management software allows businesses and
employees to more easily track, attribute, and
reimburse employee expenses. It centralizes the
management process, and can automate routine
manual tasks, saving time for managers and
accountants. Expense management software should
always have the ability to document receipts,
have a mobile application or interface, have some
approval routing configuration, and be able to
work with accounting software. This type of
software should not be confused with spend
management, which focuses on procurement expenses
such as raw materials, business services, or
investments.One of the key trends observed in
the expense management software market is the
access to the expense portal though the internet
and mobile applications which have, in turn,
raised the demand for the expenses software to
manage employee expense reimbursement process on
a real-time basis. Therefore, many large
enterprises are adopting this travel and expense
management software. This software enables
enterprises to scrutinize medical bills, travel,
and other tickets and automate the reimbursement
process. It also helps prevent fraud and human
error in the expense management
process.360Quadrants, the most granular
solution comparison platform, has released a
study on the top companies in the expense
management software market to assist businesses
make faster and more strategic decisions when
selecting an ideal expense management software
provider. SAP Concur, Zoho Expense, Expensify,
ReceiptBank, and Paycom dominated the global
expense management software market in
2020.360Quadrants conducts sa comprehensive SWOT
analysis and specifically assesses the companies
selected for review. This helps in understanding
future prospects and where competitors are
lagging. It also helps consumers choose the most
appropriate solution and manufacturer as per
their specifications.
3
  • Expense Management Software 360quadrants
    Categorization
  • 20 companies offering expense management
    software solutions were analyzed and ranked, of
    which, ten companies were positioned on a
    360Quadrant that categorized them as Visionary
    Leaders, Innovators, Dynamic Differentiators, and
    Emerging Companies.
  • Visionary Leaders Visionary leaders primarily
    lay emphasis on new product launches, innovative
    developments, and business strategy executions.
    These players have extensive ranges of products.
    Visionary leaders are organizations that have a
    wide range of offerings and are pioneers in
    making decisions. SAP Concur, Zoho Expense,
    Expensify, ReceiptBank, and Paycom are considered
    as Visionary Leaders and placed on the
    360Quadrant.
  • Innovators Innovators primarily concentrate on
    technological innovation and invest heavily on
    RD in order to have wider and stronger product
    portfolios. They actively add features to their
    software and services and have the potential to
    expand over regions and markets and then become
    challengers. Deem is recognized as an Innovator
    in this category.
  • Dynamic Differentiators Throughout the expense
    management software domain, businesses are
    completely reliant on efficient RD programs.
    Some companies have minimal product offerings
    relative to the Visionary Leaders, but do have a
    network of dedicated clients for their offerings.
    The Dynamic Differentiators in the Expense
    Management Software space are Divvy and Expend.
  • Emerging Companies As companies worldwide
    provide expense management services to various
    customer segments, the sector presents a major
    challenge to small organizations that have yet to
    establish their footprints. Emerging Companies
    are majorly small or specialized companies with
    the capacity to expand with the right strategic
    choices. Companies such as Happay, Fyle, and PEX
    are categorized as Emerging Companies.

4
  • 360quadrants Company Evaluation Methodology
  • Using the following scoring pattern, the top
    expense management software companies are
    assessed
  • Considerable evaluation was undertaken to
    generate a list of software developers by a
    highly trained team of consultants and technical
    experts. A patent-pending mechanism was used to
    gain inputs from various stakeholders, experts,
    consumers, product suppliers, and 360Quadrants
    analysts focused on more than 95 criteria for
    product portfolio and market strategy
    development.
  • Core parameters under Product Portfolio include
    Digital Invoices, Recurring Invoices, Invoice
    Templates, Due Dates, Cash flow, KPIs Monitoring,
    Payment Tracking, Expense Automation, Mobile
    Functionality, Internationalization, Embedded AI
    / Machine Learning, Mileage Tracking, and Receipt
    Capture. Other parameters analyzed are Deployment
    Options, Policies and Regulations, Reporting
    Features, Client Invoicing and support provided
    by the vendor.
  • Geographic reach, partner network which includes
    Distributors / VARs / OEMs, Agencies
    Consultants, Managed Service Providers and System
    Integrators / Builders, financial capability, and
    client coverage or market footprint constitute
    criteria within market strategy development.
  • A proportion dependent on data collected
    pertaining to the above parameters as well as
    specific inputs were assigned to each factor. The
    findings are analyzed, and a definitive rating is
    given to each service provider. Based on the
    rating after the finalization of the scores, the
    service provider is placed in the most relevant
    quadrant.

5
  • About 360Quadrants
  • 360Quadrants is the largest marketplace looking
    to disrupt US 3.7 trillion of technology spend
    and
  • is the only rating platform for vendors in the
    technology space. The platform provides users
    access
  • to unbiased information that helps them make
    qualified business decisions. 360Quadrants
    enables
  • vendors to influence the business decisions of
    potential clients. Vendors get to win ideal new
  • customers, customize their quadrants, decide key
    parameters, and position themselves strategically
  • in a niche space, to be consumed by giants and
    start-ups alike. Experts get to grow their brand
    and
  • increase their thought leadership. The platform
    targets the building of a social network that
    links
  • industry experts with companies worldwide. The
    platform has around 400 total buyers across
  • various markets.

6
  •  
  • Contact
  • Mr. Agney Sugla
  • agney_at_marketsandmarkets.com
  • 630 Dundee Road, Suite 430
  • Northbrook, IL 60062
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