May 03, 2012 - 09:40 AM ET
The General Services Administration's $1.5 billion, 15-year ETS2 contract will be awarded in June, Concur chairman and CEO Steve Singh estimated. "There's obviously been a bit of a scandal across the GSA
around expense reporting and, frankly, just spending outside of policy,"
Singh said, referencing the federal agency's 2010 Western Regions Conference
scandal, which resulted in the
resignation of GSA administrator Martha Johnson.
Singh cited the leadership change for the delay. The massive ETS2 travel and
expense management contract, widely expected to be awarded to both Concur and a
joint CWTSatoTravel/Northrop Grumman bid, previously was
targeted for April. If
it indeed does win a portion of the deal, Concur is not expecting revenue from
it until 2014. Meanwhile, Concur on Wednesday reported "exceptionally
strong" March quarter results, including revenue of $108.4 million. That
came in at 28 percent higher than a year earlier, the company's "highest
year-over-year growth rate since the beginning of the recession," CFO
Frank Pelzer said.
March 21, 2012 - 06:10 PM ET
Concur said it partnered with five pharma solution providers to support corporate compliance with provisions of the U.S. Affordable Care Act that will require drug, biologic and medical device makers to track expenses
related to marketing to physicians and teaching hospitals and report such
expenses to a publicly accessible national database. Through Concur's Connect
platform, corporations can upload and report expenses to and obtain provider
data from AdvantageMS, Healthcare Data Solutions, MedPro Systems, Porzio
Pharmaceutical Services and R-Squared. Under these terms of the federal law,
also known as the Physician Payments Sunshine Act, such reporting was to begin
in March 2013, but late last year that deadline was delayed. The U.S. Centers
for Medicare and Medicaid Services last month closed a comment period on its
proposed rule and is expected to release a final rule and reporting deadlines.
March 14, 2012 - 09:25 AM ET
Hogg Robinson Group said it planned to purchase the remaining shares of Spendvision it doesn't already own from the expense firm's current and former
directors and one of its founding shareholders. When the £13.44 million (US$21.3 million)
deal—£4.976 million (US$7.8 million) in HRG shares and £8.464 million (US$13.5
million) in cash—is completed later this month, Spendvision COO Shane Bruhns will
be named CEO of the subsidiary, headquartered in the United Kingdom with
offices in Australia, Japan, New Zealand and the United States. HRG was the majority
owner of the 100-person firm and first invested in it in 2004.
CORRECTION, April 4: An earlier version of this report misstated the
value of the deal. March 08, 2012 - 09:05 AM ET
AirPlus International and JPMorgan Chase announced a "strategic partnership" to provide multinational organizations with
corporate card and travel expense management programs. "Together, we are
delivering a compelling alternative to traditional corporate card
programs," according to J.P. Morgan Global Commercial Card Solutions
president Andrew Pilkington. The companies said they would offer "a
complete suite" of travel and entertainment payment solutions, adding that
"new and innovative" features and benefits will be announced "in
the coming months." J.P. Morgan Global Commercial Card claims "more
than 6,000 public and private sector clients and more than 6 million
cardholders." According to AirPlus executive board chairman Patrick
Diemer, the partnership will "bring us ever closer to our goals of
becoming the preferred global provider of business travel payment solutions."
March 05, 2012 - 12:20 PM ET
Databasics announced mobile versions of its expense reporting and employee time tracking products. The mobile versions, available
for iPhone, Android and BlackBerry devices, "offer all the capabilities
including receipt capture, multiple currency, project distribution and per diem
calculations," according to the company, which added that mobile versions
are based on HTML5 technology. Databasics also noted that to ensure security,
"no data is kept on the mobile or tablet device." Other travel
technology companies recently have announced
mobile versions of their services,
including Grasp Technologies, Prime Numbers Technology and TRX.