Concur and Cvent Expand Alliance with New Partnership Agreement
Companies Sign New Sales Distribution Agreement; Planned Product Integration via the Concur Connect Platform Will Deliver End-To-End Meetings-Related Travel and Expense Management
October 5, 2011 – NEW YORK and MCLEAN, VA – Concur® (Nasdaq: CNQR), a leading provider of integrated travel and expense management solutions, and Cvent, the world's largest provider of cloud-based software for event management, meeting site selection and web surveys, today announced a new partnership through which each company will actively promote and refer the other's products and services. This agreement extends the existing partnership between Concur and Cvent, through which Concur's corporate travel booking technology is integrated with Cvent's attendee management applications. With this new agreement, Cvent and Concur will work to also integrate Cvent's applications with Concur's expense automation via the Concur Connect platform to provide clients with end-to-end meetings-related travel and expense management.
“Meetings and events can represent a significant area of spend for many companies,” said Barry Padgett, EVP, Concur Connect Platform at Concur. “Together with Cvent, we'll be better able to support the market's growing needs for end-to-end travel and expense management related to meetings and events. We plan to explore additional opportunities to further integrate our technologies, specifically in the area of meetings expense reconciliation.”
“All too often, meetings and transient travel procurement are handled disparately within companies, leading to missed cost saving opportunities, unnecessary risk and inefficiencies. Cvent's partnership with Concur looks to combat that by bringing both transient travel and meeting-related expense management all under one roof,” said Anil Punyapu, Cvent's Vice President of Enterprise Sales and Partnerships. “Now, with this new agreement, we'll be able to explore additional integration opportunities and also reach more companies looking to ensure high compliance with corporate policies and gain greater visibility and control of their meetings spend.”
Recent studies have found that spending on meetings and events can equal up to four percent of corporate revenues. However, most organizations have little in the way of formal processes for managing that spend. By combining world-class meeting and event management technology with market-leading travel and expense management, clients of Cvent and Concur can take control of this significant area of spend to help drive costs out of their businesses.
About the Concur Connect Platform
The Concur Connect Platform is a set of open, cloud-based APIs and tools that enable customers, partners, and third party developers to connect to and extend the Concur technology platform with a diverse set of applications and services. The applications and services integrated to Concur solutions are available through traditional desktops and mobile interfaces.
Concur® is a leading provider of integrated travel and expense management solutions for companies of all sizes. Concur's easy-to-use web-based and mobile solutions help companies and their employees control costs and save time. Learn more at www.concur.com.
Founded in 1999, Cvent is the world's largest meetings and event management technology company and has 1,400+ employees worldwide. Cvent offers web-based software for online event registration, meeting site selection, event management, mobile apps for events, e-mail marketing and web surveys, and helps more than 10,000 clients in 90 countries manage hundreds of thousands of events, surveys and e-mail campaigns. Cvent's client base includes corporations from every major industry, associations, universities, and non-profit organizations. For more information, please visit www.cvent.com, or connect with us on Facebook, Twitter or LinkedIn.