SAP, the parent company of the Concur suite of tools for managing travel expenses, said on Tuesday the company’s unit was recovering after the pandemic shock.
“Concur is actually recovering very nicely,” said Luka Mucic, chief financial officer for the German software giant. “They are only representing this quarter a 1 percent drag on the growth [in SAP’s Cloud Choice Profit (CCP) unit of cloud businesses].”
“Actually on the transactional revenue side, they are already showing very high growth in the high double digits,” Mucic said. “So that business will definitely exceed its pre-pandemic state next year, as we had projected.”
SAP cited increased use of Concur by existing clients. For example, Pennsylvania State University in the U.S. has used SAP Concur Solutions for over 15 years. But in the third quarter, it expanded its partnership because of increased student, faculty, and administrator travel.
“Our intelligence spend and business network is benefiting from a return to business travel combined with the increased focus on managing costs with cloud revenue growth in the mid-teens,” said Christian Klein, CEO of SAP.
As Skift recently reported, SAP Concur Travel is getting its first overhaul in more than 15 years. Earlier this week G2, a leading software rating service, named Concur as a market leader in its reviews-based ranking for travel expense management.