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Concur Technologies Inc. (CNQR - Analyst Report) entered into a partnership with UK’s leading online rail retailer, trainline.com. Through this partnership, Concur’s existing online facility for booking air, car, or hotel reservations will be available with trainline.com's API (Application Programming Interface), called Trainline Connect.
Trainline Connect helps clients to access on one screen all travel plan information like prices and availability, reserve and purchase any UK journey as well as compare air and rail service options. Concur clients will now be able to enjoy all these additional benefits through this partnerships, thus helping the business travelers to easily find affordable, environmental friendly and convenient means to travel.
With this partnership, Concur’s offering on Concur Connnect platform is extended and will help it to achieve its goal of providing cost effective means of business traveling for companies. The trainline.com content will be directly accessed by the Travel Management Companies (TMCs) through Concur's travel booking technology .
The company continues to invest in expanding its distribution capacity to drive strong customer growth and boost its business performance. The recently made Triplt acquisition and new launched products supports the company’s future growth prospects.
Concur Technologies is a provider of business services that automate the processes involved in the management of corporate expense. Concur focuses on reducing costly and inefficient expense processes in businesses of all sizes, by streamlining the reimbursement processes, reducing operating costs, improving internal controls, and enabling customers to apply greater insight into their spending patterns through analytics. Major competitors of Concur are Compuware Corporation (CPWR - Analyst Report), Oracle Corp. (ORCL - Analyst Report) and SAP AG (SAP - Analyst Report).
We currently maintain our Neutral rating on Concur Technologies, with a Zacks #3 Rank (Hold recommendation) over the next one-to-three months.
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