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Concur Technologies Inc. (CNQR - Analyst Report) has joined the NetSuite (N - Snapshot Report) SuiteCloud Developer Network and is collaborating with NetSuite to use the SuiteCloud development platform to create an integration of Concur with NetSuite.
NetSuite's SuiteCloud is an offering of on-demand products, development tools, and services designed to assist customers and commercial software developers take to cloud computing.
Working together with NetSuite, Concur aims to facilitate deeper integration between cloud-based services and remains committed to delivering value to clients. Concur's services process over $50 billion in travel and expense spend per year for global corporations.
Valuable long-term drivers for the company include its investment in the emerging markets, its geographic expansion and customer retention (in which Concur leads the industry in client satisfaction). As the global economy gradually regains its footing, Concur believes that there will be opportunities for it to strengthen its leadership position, especially in new geographical markets and through new service offerings.
However, Concur depends on strategic relationships with third parties. Its revenues will decline if it is unable to sustain and develop these relationships. Further, an important component of its business success depends on its ability to maintain and develop relationships with travel suppliers.
Adverse changes in its existing relationships, or an inability to enter into new arrangements with these parties on favorable terms, could reduce the amount, quality and breadth of attractively-priced travel products and services.
Concur Technologies is a provider of business services that automate the processes involved in the management of corporate expense. Major competitors of Concur are Compuware Corporation (CPWR - Analyst Report), Oracle Corp. (ORCL - Analyst Report) and SAP AG (SAP - Analyst Report).
We continue to maintain a Neutral rating on Concur, with a Zacks #3 Rank (Hold recommendation) over the next one-to-three months.
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