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SAP »ÆÉ«¶ÌÊÓƵ is pleased to announce that SAP has maintained its? #1 ranking in market share for Travel and Expense Management Software according to IDC Market Share: Worldwide Travel and Expense Management Software Market Shares, 2022: Evolving Travel Models Pushing Digital Transformation. In addition to holding 49.4% of market share, the IDC report found that travel and expense from SAP generated $1.281 billion in revenue and 16.3% year-over-year growth in 2022.??

This annual IDC forecast report publishes the competitive market for travel and expense management software and considers the trends, mergers and acquisitions, and significant market developments that shaped business travel and expense over the past year.????

According to the 2023 Global Business Travel Survey, over two-thirds (67%) of global business travelers are very willing to travel for work in the next 12 months, an increase of 12 percentage points over last year. Additionally, as addressed in the IDC report, the U.S. Bureau of Transportation reported that the number of passengers on U.S. airlines increased 30% between 2021 and 2022. Factors contributing to this rebound in travel¡ªboth business and leisure¡ªinclude growing numbers of digital nomads, additional blended travel, and the normalcy of remote working. To best support employees, a company¡¯s travel and expense solutions and policies must anticipate these trends as well as increasing interest in artificial intelligence, sustainability, integration, virtual cards, and more.??

"Every business is a people business and providing flexibility in how your employees can work and???

travel makes you better able to keep top performers and makes your business more attractive to top-tier talent,¡± said Kevin Permenter, research director, Financial Applications at IDC. ¡°For companies looking to provide a high-level employee experience, upgrading to a model travel and expense solution is a must."???

SAP is proud to be among the companies and solutions included within this report. SAP »ÆÉ«¶ÌÊÓƵ gives businesses the power to automate, connect, and simplify their travel and expense processes with an integrated, intelligent portfolio of solutions, including »ÆÉ«¶ÌÊÓƵ Travel and »ÆÉ«¶ÌÊÓƵ Expense.??

Learn more about the travel and expense software landscape by downloading this excerpt from the IDC study, Worldwide Travel and Expense Management Software Market Shares, 2022: Evolving Travel Models Pushing Digital Transformation.??