Expense Management Software Market Edition 2023 | Recent Developments and SWOT Analysis 2028

Expense Management Software Market Value and CAGR

Software for managing expenses is a crucial resource for companies of all kinds, from sole proprietorships to global conglomerates. You can use it to automate and streamline the process of controlling and tracking spending. Having a strong cost management system in place can give you more insight into spending at any level and across many departments. It can also free up time for more important tasks.

In 2018, it was estimated that the market for cost management software was worth $2.9 billion USD, and it was expected to grow at a CAGR of about 11.5% from 2018 to 2027. An expense management tool is a type of financial management software that assists businesses in automating and streamlining the process of managing and approving expense reports. Employee expense reports are submitted, approved, processed, and reimbursed with significant time and effort savings.

Expense Management Software Market Growth Drivers and Risks

The desire to reduce costs and boost operational effectiveness are the main motivations behind the adoption of expenditure management software. Businesses frequently discover that automating their expenditure reporting process and getting rid of manual errors allows them to save money. Also, businesses can often cut their overall travel costs by using an expense management system to track what employees spend and find ways to save money.

The usage of expense management software, however, may also be constrained in some ways. Business owners might occasionally worry about how tracking employee expenditures might affect their privacy. Furthermore, some organisations could discover that the expense of setting up an expense management system outweighs any possible advantages.

Expense Management Software Market Key players

Some of the key players in the expense management software market include SAP Concur, Certify, Expensify, Chrome River Technologies, Abacus, Zoho Expense, Nexonia, Apptricity, Xpenditure, and Tallie, among others.

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Expense Management Software Market Segmentations

BY TYPE

• PC TERMINAL
• MOBILE TERMINAL

BY END USER

• SMALL BUSINESS
• MIDSIZED BUSINESS
• LARGE ENTERPRISES

Reasons Why You Should Buy This Report

• The Expense Management Software Market report is a compilation of data from different sources and has been put together in a way that makes it easy for the reader to understand.
• It covers a wide range of topics, including Expense Management Software Market current trends, market size, and forecasted growth.
• The Expense Management Software Market report provides valuable insights that can help you make informed decisions about your business. The data is accurate and up-to-date, so you can trust the information presented.
• This Expense Management Software Market report is an excellent resource for business owners who are looking to gain an understanding of the market landscape and potential opportunities.
• It will help you identify growth sectors and predict future trends of Expense Management Software Market

Table of content

1 EXECUTIVE SUMMARY 11

2 MARKET INTRODUCTION 13

2.1 DEFINITION 13

2.2 SCOPE OF THE STUDY 13

2.3 LIST OF ASSUMPTIONS 14

2.4 MARKET STRUCTURE 14

3 MARKET INSIGHTS 15

4 MARKET DYNAMICS 16

4.1 OVERVIEW 16

4.2 DRIVERS 16

4.2.1 CENTRALIZATION OF ENTERPRISE EXPENSE-RELATED DATA 16

4.2.2 INCREASE IN THE ADOPTION OF MOBILE APPLICATIONS TO MONITOR EXPENSES 17

4.3 RESTRAINT 18

4.3.1 LACK OF INTEROPERABILITY AND SECURITY CONCERNS 18

4.4 OPPORTUNITY 18

4.4.1 INTEGRATION WITH PREDICTIVE ANALYTICS 18

4.5 IMPACT OF COVID-19 ON THE MARKET 19

4.5.1 INTRODUCTION 19

4.5.2 TRANSFORMATION OF BUSINESSES 19

4.5.3 GROWING ADOPTION OF CLOUD-BASED MODEL 19

4.5.4 INCREASE IN THE REVENUE OF EXPENSE MANAGEMENT SOFTWARE & SERVICES VENDORS 20

5 MARKET FACTOR ANALYSIS 21

5.1 VALUE CHAIN ANALYSIS 21

5.1.1 DESIGNERS & PROGRAMMERS 21

5.1.2 SOLUTION DEVELOPERS 21

5.1.3 SYSTEM INTEGRATORS 22

5.1.4 END USER 22

5.2 PORTER’S FIVE FORCES MODEL 22

5.2.1 THREAT OF NEW ENTRANTS 23

5.2.2 BARGAINING POWER OF SUPPLIERS 23

5.2.3 THREAT OF SUBSTITUTES 23

5.2.4 BARGAINING POWER OF BUYERS 23

5.2.5 INTENSITY OF RIVALRY 23

Toc Continue………………………..

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