The North America SaaS-based Expense Management Market is expected to witness market growth of 10.0% CAGR during the forecast period (2022-2028).
While larger businesses typically use expense management software to replace paper reports, mountains of receipts, as well as spreadsheets, smaller businesses are more likely to continue using antiquated manual processes & systems. This may have consequences such as small firms without expenditure management software running the danger of having staff buy things that are prohibited & experiencing dissatisfaction from lengthy procedures and long refund delays. When duplicate or fraudulent reports get through the system, they can't promptly bill for expenses incurred on a client's behalf, and unintentional errors result in tax penalties, and they may suffer problems with their cash flow.
Instead of filling out paper forms & keeping track of sales slips, employees can submit expense reports & related documentation, including images or scans of receipts, directly into the software from their PCs, tablets, or cellphones. Reimbursement is accelerated, returning money to workers' bank accounts & removing the frustration associated with delays.
Canada has a thriving domestic technology industry which is serving as a lucrative opportunity for SaaS based expense management market. The Canadian information and communications technologies (ICT) industry comprise a large number of companies. The software & computer services sectors employ the vast majority. Before the pandemic, digital transformation in Canada was well underway, but they need to embrace and create technology while the pandemic period has given the sector more speed. The conventional web administration is changing due to the Canadian government. Their agencies can use the platform of standards-compliant (WCAG, HTML5, & WAI-ARIA), accessible & secure components that they created to develop & maintain their websites.
The US market dominated the North America SaaS-based Expense Management Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $1,882.1 million by 2028. The Canada market is poised to grow at a CAGR of 12.5% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 11.5% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into Telecom & IT, BFSI, Manufacturing, Retail & Ecommerce, Government & Public Sector, Healthcare & Life Sciences, Media & Entertainment, Energy & Utilities, Travel & Tourism, and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Type, the market is segmented into Travel & Expense Management and Telecom Expense management. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, SAP SE, Apptricity Corporation, Insperity, Inc., SutiSoft Inc., Emburse, Inc. (Certify), Infor, Inc. (Koch Industries), and Zoho Corporation Pvt. ltd.
While larger businesses typically use expense management software to replace paper reports, mountains of receipts, as well as spreadsheets, smaller businesses are more likely to continue using antiquated manual processes & systems. This may have consequences such as small firms without expenditure management software running the danger of having staff buy things that are prohibited & experiencing dissatisfaction from lengthy procedures and long refund delays. When duplicate or fraudulent reports get through the system, they can't promptly bill for expenses incurred on a client's behalf, and unintentional errors result in tax penalties, and they may suffer problems with their cash flow.
Instead of filling out paper forms & keeping track of sales slips, employees can submit expense reports & related documentation, including images or scans of receipts, directly into the software from their PCs, tablets, or cellphones. Reimbursement is accelerated, returning money to workers' bank accounts & removing the frustration associated with delays.
Canada has a thriving domestic technology industry which is serving as a lucrative opportunity for SaaS based expense management market. The Canadian information and communications technologies (ICT) industry comprise a large number of companies. The software & computer services sectors employ the vast majority. Before the pandemic, digital transformation in Canada was well underway, but they need to embrace and create technology while the pandemic period has given the sector more speed. The conventional web administration is changing due to the Canadian government. Their agencies can use the platform of standards-compliant (WCAG, HTML5, & WAI-ARIA), accessible & secure components that they created to develop & maintain their websites.
The US market dominated the North America SaaS-based Expense Management Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $1,882.1 million by 2028. The Canada market is poised to grow at a CAGR of 12.5% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 11.5% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into Telecom & IT, BFSI, Manufacturing, Retail & Ecommerce, Government & Public Sector, Healthcare & Life Sciences, Media & Entertainment, Energy & Utilities, Travel & Tourism, and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Type, the market is segmented into Travel & Expense Management and Telecom Expense management. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, SAP SE, Apptricity Corporation, Insperity, Inc., SutiSoft Inc., Emburse, Inc. (Certify), Infor, Inc. (Koch Industries), and Zoho Corporation Pvt. ltd.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Services
By Vertical
- Telecom & IT
- BFSI
- Manufacturing
- Retail & Ecommerce
- Government & Public Sector
- Healthcare & Life Sciences
- Media & Entertainment
- Energy & Utilities
- Travel & Tourism
- Others
By Organization size
- Large Enterprises
- SMEs
By Type
- Travel & Expense Management
- Telecom Expense management
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Oracle Corporation
- IBM Corporation
- SAP SE
- Apptricity Corporation
- Insperity, Inc.
- SutiSoft Inc.
- Emburse, Inc. (Certify)
- Infor, Inc. (Koch Industries)
- Zoho Corporation Pvt. ltd.
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- Exhaustive coverage
- The highest number of market tables and figures
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. North America SaaS-based Expense Management Market by Component
Chapter 5. North America SaaS-based Expense Management Market by Vertical
Chapter 6. North America SaaS-based Expense Management Market by Organization size
Chapter 7. North America SaaS-based Expense Management Market by Type
Chapter 8. North America SaaS-based Expense Management Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Oracle Corporation
- IBM Corporation
- SAP SE
- Apptricity Corporation
- Insperity, Inc.
- SutiSoft Inc.
- Emburse, Inc. (Certify)
- Infor, Inc. (Koch Industries)
- Zoho Corporation Pvt. ltd.
Methodology
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