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SAP Concur Is a Collateral Victim of the Collapse in Business Travel

Sean O'Neill photo
Sean O'Neill
first class lounge lufthansa airlines at munich airport source lufthansa group

Photo Credit: Lufthansa Group's first-class lounge at Munich Airport. Business travel has been hurt by the pandemic. Software giant SAP reported that its business travel expense management unit Concur saw revenue drop 11 percent year-over-year in the quarter. Lufthansa Group

Skift Take

SAP has pared back its own business travel. It probably had those cuts in mind when it lowered forecasts for its Concur unit, which offers travel expense management software.

Enterprise software giant SAP reported earnings on Monday and suffered the largest one-day plunge in its stock price in 24 years. While SAP saw weakness across its units during the quarter, its business travel brand Concur has seen the sharpest drops in revenue. The company revealed noteworthy details about the performance of Concur, an expense-accounting and travel-booking platform mainly used by business travelers. SAP on Monday downwardly revised its forecast for the

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