Emburse ranked #3 for 2023 T&E Management Software market share

Emburse ranked #3 for 2023 T&E Management Software market share by Leading Analyst Firm

Earning 6.2% in market share and strong growth

DALLAS – Jan 28, 2025 – Emburse, whose leading travel and expense solutions power forward-thinking organizations, has been ranked #3 in in the IDC Worldwide Travel and Expense Management Software Market Shares, 2023 (doc#US51658524, August 2024) report. Emburse achieved a 6.2% share of the $2.9 billion T&E software market.

Growth Driven by Innovation and Strategic Partnerships

We believe Emburse’s 8.8% year-over-year growth rate highlights its ability to stand out in a competitive, highly fragmented market. The report noted, “Emburse grew rapidly in 2023 powered by a combination of acquisitions and new product enhancements and strategic partnerships. Emburse bolstered its technology platform in 2023 with the introduction of its new AI-powered receipt scanning engine. Emburse made several moves to enrich its partnership ecosystem with partnership agreements with Mastercard, Amadeus, and GreeMko. Emburse also added to its business with the acquisition of TRIPBAM, a provider of automated auditing technology for corporate travel spend management.”

"The travel and expense management industry is at a pivotal moment, where businesses are seeking solutions to not only improve the travel experience for employees and finance teams but help save time and money," said Kevin Permenter, Research Director, Financial Applications, IDC. "Emburse is laser-focused on delivering innovative, user-friendly technology and expanding its ecosystem through strategic partnerships, allowing them to gain traction in a crowded market dominated by legacy providers."

Recent Growth Outpaces Industry Projections

While the IDC report reflects 2023 market data, Emburse’s most recent growth figures tell an even more compelling story. In 2024, Emburse achieved an impressive 11% year-over-year growth in total revenue and is on track to surpass $300 million in revenue in 2025. This continued success has been driven by:

• Continued investment in innovation, including mobile-first, AI-powered solutions and enhanced integrations to improve the user experience, speed up processes and improve accuracy
• Industry-leading customers like General Mills, Databricks, and the University of New Mexico, demonstrating strong adoption across several key industries
• Emburse’s brand unification strategy, which aligned the company’s portfolio under a single, cohesive brand, amplifying awareness and positioning Emburse as a leader in travel and expense management, accounts payable and payments

Leadership in a Fragmented Market

The report included Emburse in the Who Shaped the Year section, noting it was a Market Mover. Unlike legacy systems, which often struggle to keep pace with today’s rapidly changing business environment, Emburse offers an agile, easy-to-use alternative designed to simplify expense management while enhancing spend visibility, accuracy, and compliance, with an experience that users love.

“We believe being ranked #3 for 2023 market share in the IDC report reinforces Emburse’s position as a leader in redefining the future of travel and expense management,” said Michele Shepard, CRO, Emburse. “Businesses no longer need to stick with outdated, one-size-fits-all solutions that fail to address the complexities of today’s leading organizations. Emburse provides a modern, scalable platform that not only integrates seamlessly into existing workflows but drives real innovation—helping companies move beyond the limitations of legacy systems like SAP Concur.”

To learn more about Emburse’s inclusion in IDC’s report and the company’s innovative solutions, read the report excerpt.

About Emburse

Emburse delivers innovative end-to-end travel and expense management solutions that solve for what’s next for forward-thinking organizations. Our suite of award-winning products are trusted by more than 12 million finance and travel leaders, and business professionals around the world. More than 20,000 organizations in 120 countries, from Global 2000 corporations and small-medium businesses to public sector agencies and nonprofits, count on us to manage business travel and employee expenses with ease.

Our highly automated, mobile-first solutions streamline business travel planning, booking and management, and eliminate manual, time-consuming expense submissions, approval and reconciliation. We deliver efficiency and time savings, increase financial visibility, enhance spend control and compliance, and improve the entire business travel experience. This empowers our customers and their teams to deliver meaningful value for their organizations.