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 Cvent, Inc.
Cvent, Inc. is a leading meetings, events, and hospitality management technology provider with more than 3,500 employees, 25,000 customers, and 300,000 users worldwide. The Cvent Event Cloud offers software solutions to event planners and marketers for online event registration, venue selection, event management and marketing, onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the planning process to maximize the impact of events. The Cvent Hospitality Cloud partners with hotels and venues to help them drive group and corporate travel business. Hotels use the Cvent Hospitality Cloud’s digital marketing tools and software solutions to win business through Cvent’s sourcing platforms and to service their customers directly, efficiently and profitably – helping them grow and own their business. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events. For more information, please visit Cvent.com, or connect with us on Facebook, Twitter or LinkedIn.
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.