Business travel and expense (T&E) management firm Concur is integrating its latest service with China’s WeChat, the company said in an announcement on Sunday (Nov. 26).
Concur is rolling out a solution to address corporates’ electronic fapiao needs, which relate to tax receipts. The firm said it is integrating its electronic receipt application into WeChat.
“The Concur eFapiao solution provides real-time access to an employee’s receipt, streamlining the financial management and travel and expense claims process,” explained Concur Greater China Managing Director Boonthai Hoh in a statement. “It showcases the value of the ecosystems built by Concur and our network of business suppliers and helps Chinese users process their expenses in an easy, accurate and paperless way.”
Users can transfer their eFapiaos that are sent by merchants via WeChat into the Concur Expense platform for automated, streamlined data entry. According to Concur, this invoice management automation cuts down on errors due to manual entry and negates the need for paper to enter the process by printing out receipts sent via WeChat.
The fapiao solution, which Concur said is developed specifically for the Chinese market, demonstrates the company’s ongoing focus on the country. Last year the firm said it struck a partnership with Uber rival Didi Chuxing in China, and soon thereafter announced a collaboration with China DataCom Corporation.
In its announcement of the China DataCom partnership, Concur highlighted China’s T&E market, worth $291.2 billion in 2015, making it the largest in the world. The company also rolled out its China Expansion Plan last year with a focus on developing localized services for Chinese clients.
“China represents an enormous market opportunity, and we look forward to expanding the services we already offer multinational Chinese companies,” said Concur Global President Mike Eberhard in a statement last year. “China DataCom Corporation enables us to provide the best travel and expense management services for Chinese companies in the cloud.”