SAP Concur has a target on its back. After all, the unit of the German software giant boasts the largest market share for helping the world’s largest companies manage their travel expenses.
Yet new rivals — Coupa, an expenses management company, and a group of brands including Certify and Chrome River that a private equity firm has rolled up — are nipping at SAP Concur’s heels.
For one, Coupa is looking to beef up its portfolio to compete. The company on Tuesday acquired Yapta, a Seattle-based service for tracking travel price changes and rebooking trips if airfares or hotel rates dropped. The companies didn’t disclose the deal terms. Yapta had disclosed raising $25 million in funding. In 2018, it generated $13 million in revenue.
“Coupa helps companies spend smarter by giving them visibility and control over their business spend,” Rob Bernshteyn, the chairman and CEO of Coupa, said in an interview. “Now that Yapta is part of Coupa, we will deliver even greater value to travel spend, one of the most significant spend areas in most organizations.”
Coupa helps businesses manage their procurement, invoicing, and expense tracking across categories using internet-based tools. SAP leads in this sector, but it has been racing to adopt cloud-based solutions rather than offer hardware and licenses.
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