Newly Formed Certify Sets Sights Beyond T&E
June 28th, 2017
The corporate travel and expense management space has seen its fair share of M&A activity in recent years, in part because the innovation is becoming an innovation hub, attracting technology experts to launch their own solutions. It’s also because corporates today demand automation of at least the most basic of T&E tasks.
One of the largest acts of industry consolidation so far was announced earlier this month, when K1 Investment Management revealed a $125 million investment to merge the Nexonia, ExpenseWatch and Tallie brands all under Certify. But this consolidation was actually kickstarted in late 2016, when Tallie and Nexonia themselves merged.
At the time, Tallie CEO Chris Farrell told PYMNTS that industry consolidation was critical to keeping the T&E services industry competitive, agile and innovative. Now, with Certify bringing these brands and their 7,500 customers together under one roof, Certify Founder and CEO Bob Neveu said in a statement that the combined entity is “in a much stronger position to develop products and serve customers” across the globe and will be able to more adequately compete with industry leader SAP Concur.
In a recent discussion with PYMNTS, Neveu, who will retain his role as CEO of the combined entity, explained how Certify will not only be focusing on product development, but will also be able to respond to disruption in the T&E space that forces industry players to assess how they position themselves in front of their corporate customers.
Part of that self-assessment must occur because client expectations are on the rise, as T&E solutions become more prominent in the enterprise.