Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published Saturday, June 7, 2008 at 12:00 AM

Print

Northwest 100 Top Five

Number 4 | Concur Technologies has ambitious financial goals

Concur expects to grow its top-line revenue by at least 25 percent each of the next three years, and it wants to use economies of scale and cost controls to improve its operating margin by at least one percentage point each year.

Founded: 1994

Headquarters: Redmond

Operations: Washington, California, Georgia, Illinois, New Jersey, Texas, Virginia; Australia, Belgium, Czech Republic, France, Germany, the U.K.

CEO: Steve Singh

Employees: 575

Major products/services: Software that employees use to book business travel and report expenses

Special sauce: Concur's rapid shift from selling software on discs to selling it as an online subscription service; almost 90 percent of its 2007 revenue came from subscriptions.

Fourteen years after his brother co-founded Concur Technologies, and 12 years after taking on the chief executive's job, Steve Singh can look back with a sense of accomplishment. Some 7,000 companies around the world use Concur's expense-reporting or travel-booking software; 900 were added in the first half of fiscal 2008.

Except Singh is looking forward, not back. The goal now, he said, is "How do you get from 7,000 to 50,000 as quickly as possible?"

One step toward that goal came last year, when Concur bought the parent of Gelco Information Network. The Gelco deal, Singh said, was "largely a consolidation of the market — we bought one of our competitors. But they did have some technology that was additive."

That technology, software that automatically pays employees for their reimbursable expenses, now is called Concur Pay, a product launched earlier this year. It joins the company's flagship travel and expense-reporting products.

A combined travel-expense package, in the works since last year, has been "successful beyond what we expected," Singh said. In the fiscal second quarter, which ended March 31, 40 percent of new customers bought the combined product, Singh said; 35 to 40 percent of existing customers have upgraded to it.

Singh has ambitious financial goals as well. Concur not only expects to grow its top-line revenue by at least 25 percent each of the next three years, it wants to use economies of scale and cost controls to improve its operating margin by at least 1 percentage point each year.

"Our view is, you shouldn't just focus on top-line growth," he said.

As the U.S. economy slows, you might expect companies to cut back on technology spending, imperiling some of Singh's goals. But so far, he said, that's not been the case.

The question more companies are asking, he said, is: "In a tougher economy, how do you take those manual processes [for booking travel or filling out expense forms] and drive down costs?"

Copyright © 2008 The Seattle Times Company

More Business & Technology headlines...

Print      Share:    Digg     Newsvine

advertising

UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case

UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip

UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award

UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall

NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook

Advertising

Video

Marketplace

'Nostrils' add flair and air to the faces of cars new
For years, auto designers lavished attention on the grilles of cars, both for their function and for their brand identity. Now designers seem to be lo...
Post a comment

Advertising