IDC report: 2019 Worldwide Travel and Expense Management Software Market Shares

The market for T&E management software reached $2.3 billion in 2019, with SAP once again leading the market, according to an IDC report!  

Travel and expense (T&E) management software should work alongside financial accounting, human resources, and procurement systems to create a single, connected process for managing an organization's spend. 

In this report excerpt IDC reveals that the T&E market grew to $2.3 billion, an 11.8% increase over 2018. SAP is the leader in the market with 54.1% market shares. The study also highlights what a technology supplier of travel and expense management software should consider:

- Prioritizing the user experience 

- Creating intelligent workflows 

- Enhancing analytics capabilities 

- Integrating digital payments 

- Adding more risk management 

- Focusing on fraud management 

- Emphasizing the ecosystem

Historically, expense management applications were designed so that employees could log business expenses and keep expenses within the company's budget. Modern-day software vendors have shifted the focus toward actively managing employee spending habits and ingraining company policies in the decision-making process for travel and other expenses. 

Download the IDC Worldwide Travel and Expense Management Software Market Shares, 2019: Analytics Drives a new Travel Paradigm to learn more.