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Oops. There goes another on-demand T&E spend management provider

The number of software providers offering on-demand software to companies to manage employees spending has shrunk by one with the acquisition of Gelco Expense Management by Concur Technologies Inc. Gelco Expense Management is the largest provider of global expense management and reimbursement solutions, processing more than 100,000 transactions and making...

By Staff Writer | Updated on August 07, 2007

The number of software providers offering on-demand software to companies to manage employees spending has shrunk by one with the acquisition of Gelco Expense Management by Concur Technologies Inc. Gelco Expense Management is the largest provider of global expense management and reimbursement solutions, processing more than 100,000 transactions and making payments of $20 million each day. Concur’s software as a service (SaaS) solution allows global companies to control costs by automating the processes; Concur enables companies to unite online travel booking with automated expense reporting, streamline meeting management and optimize the process of managing vendor payments, employee check requests and direct reimbursements. Based in Redmond, Wash., with $92.7 million in revenues, Concur will pay H-G Holdings Inc., the privately held company that owns Gelco and other subsidiaries, $160 million in cash.

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