China Is Already The Largest Business Travel Market In The World. This Big Cake Coveted The Domestic And Foreign Giants.

At present, China is already the largest business travel market in the world, and according to Mike Eberhard, China will become the largest single market of Concur in the future. Concur will expand the Chinese market through globalization, digital pformation and localization.

Concur, a global travel expense management giant, announced its full entry into the Chinese travel market. At the same time, the company reached a joint venture with the communications operator China Communications Limited, which is a joint venture between SAP and China Telecom.

Before entering the Chinese market, Concur has provided travel cost management services for overseas agencies of many Chinese multinationals.

At the same time, Concur has made a series of preparations before entering the Chinese market. Concur reached a cooperative relationship with Ctrip and drop travel providers in August and July last year.

At present, China is already the largest business travel market in the world, and according to Concur global president Mike Eberhard, China will become the largest single market of Concur in the future. Concur will expand the Chinese market through globalization, digital pformation and localization.

But insiders who do not want to be named told reporters that the implementation of the strategy will face a bigger test.

According to GBTA survey, China in 2015

The scale of the market reached US $291 billion 200 million, an increase of 11.4% over the same period last year, and surpassed that of the US $289 billion 800 million, ranking first in the world.

Mike Eberhard said that the Chinese market is currently the second largest market outside of the us except Concur, and will become Concur's largest single market in the future.

Another background for Concur to choose to enter the Chinese market at this time is the "going out" strategy of Chinese enterprises.

According to the Ministry of commerce data, China's foreign direct investment in the 1-9 month of this year was 882 billion 780 million yuan, an increase of 53.7% over the same period last year.

In addition, China is actively promoting the "one belt and one way" strategy, which is expected to bring hundreds of billions of yuan into overseas investment.

As an important partner of SAP in Greater China, and also a client of Concur, Sun Yan, director of service sharing and operation center of Wen Si Hui Technology Co., Ltd., said that due to different requirements of TMC and tax, Concur as an integrated platform can provide customers with suitable software for different countries and provide end-to-end solutions, which is difficult for other similar companies to provide.

In fact, there are also local companies like the whole network in China. The whole network acquired tens of millions of dollars in B round of financing in January this year, but in addition to the management of travel expenses, it is also committed to the management of total cost of enterprises.

"Concur will focus solely on the control of travel expenses."

Hou Wentai, managing director of Concur Greater China, told reporters.

Compared with the localization advantage of local enterprises, Concur also emphasizes the strategy of the localization of the company.

Hou Wentai said that Concur will provide customized services to the needs of Chinese users, and optimize its own solutions in combination with China's financial management policies to help customers meet all aspects of China's value-added tax reform, compliance and other policy requirements.

A friend of the UF group told reporters that the application fees of SaaS (software as a service) provided by foreign enterprises in China were generally high, but some enterprises in China provided free SaaS applications. The main body of the actual charges was upstream suppliers such as Ctrip, and some Chinese customers also liked to use free products.

Concur, a customer who declined to be named, also told reporters that his company was in the process of being

The use of Concur system can bring greater convenience to enterprises.

However, the price of Concur in the overseas market is a little higher than that of the US dollar. This customer wants to know Concur's pricing in the Chinese mainland market before deciding whether to buy it or not.

With the application of big data, cloud computing and mobile network, the digital pformation of corporate finance has already begun.

Hou Wentai introduced that the Concur cost management platform will be based on electronic data, which can generate a complete and multi-dimensional financial report, so as to facilitate the enterprise financial team to inquire anytime, anywhere.

"In fact, this is only part of enterprise digitalization, and can not be regarded as a real digital pformation of enterprise finance.

But perhaps Concur will expand business in the wider financial sector in the future.

The UFIDA group said.

Hou Wentai said that in the end, Concur hopes to automate the business process of customers according to the effect of customers, and then provide analysis tools for customers to do data analysis after the enterprise information is data oriented, and the most important thing in this process is the accuracy of data.

Financial digitalization will enhance the efficiency of financial management for Chinese enterprises.

And formulate more reasonable cost control measures.

The pformation of enterprise financial digitalization will inevitably bring about a partial elimination of financial personnel, which is also the trend of future development.

"But the real financial and digital pformation of domestic enterprises is difficult to achieve breakthroughs within one or two years."

"The problem is that the professional competence and thinking of the financial personnel need to be upgraded and changed. There are serious faults in the collection, cleaning, collection and systematic analysis of financial data. In addition, the pformation of financial data requires the acquisition of external financial data such as the same industry and benchmarking enterprises outside the internal data of enterprises, which are difficult to achieve at present," he said.

At the same time, at present, Chinese enterprises generally lack experts who have both actual financial experience and knowledge of data analysis and modeling.

Hou Wentai also admits that pformation requires the company's top leaders to have the desire to pform their minds. If they want to, they need to optimize the existing process, change the paper process into the data system, and think about whether the existing process is logical.

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