Having forayed into the Chinese corporate market earlier this year with its Didi Chuxing partnership, Concur has now entered into a strategic alliance with Chinese cloud service provider China DataCom Corporation (CDC) to penetrate deeper into the world’s biggest business travel market.
“China represents an enormous market opportunity, and we look forward to expanding the services we already offer multinational Chinese companies,” said Mike Eberhard, Concur global president.
“This is only the beginning as Concur will continue to invest in localisation, globalisation and digital transformation, working through CDC and other partners together in China to support Chinese companies both locally and abroad.”
In its press statement, Concur stated that its expense management services are localised specifically for Chinese businesses to ensure compliance with China’s financial management policies, including value-added tax reform requirements and other regulations.
Concur also aims to help Chinese companies achieve compliance and efficient expense management on a global scale, as well as ensuring the duty of care of employees who travel internationally and helping companies recover significant overseas VAT rebates.
As well, Concur will also enable Chinese companies to become more efficient by digitising significant financial processes such as employee spending tracking.
