Fast-growing partnership with Monaeo helps Concur customers get a better handle on cross-border compliance risks and savings.
New York, NY: We are excited to share that Concur®, the leading provider of spend management solutions and services, has named Monaeo a 2017 App Center Partner of the Year. Monaeo’s technology helps companies save taxes, while also enabling them to identify and manage tax and payroll compliance risks created by their traveling employees. Monaeo’s product integration with Concur enables our shared customers to seamlessly leverage their existing travel and expense data, and to quickly start realizing a 3-6x ROI.
Often, even a single business trip can trigger a new tax requirement. Without proper visibility, companies are increasingly finding themselves caught unaware of their mobility footprint and its costly tax and payroll implications. The complexity of state and international tax laws makes it difficult for companies with a mobile workforce to effectively manage cross-border exposures. Making matters worse, to bridge their fiscal deficits, tax authorities across the U.S. and globally are more aggressively going after companies that do business within their borders. This trend is being exacerbated by new regulations such as the OECD BEPS initiative and protectionist movements such as Brexit.
As a preferred partner of Concur, Monaeo helps companies automatically extract and analyze their Concur travel and expense data to improve compliance, maximize tax savings, and increase productivity. “Watlow takes compliance very seriously, and Monaeo was the optimal solution for us to ensure we stay in compliance with tax and payroll reporting requirements created by our business travelers. Monaeo’s advanced analytics and automation software allows us to get tax insights from our data quickly and effortlessly,” said Michael Buescher, Tax Director at Watlow, a thermal systems design and manufacturing company, and a Monaeo and Concur customer.
“We’re honored to accept this award,” said Nishant Mittal, Co-founder at Monaeo, “and are excited to have quickly become one of Concur’s fastest growing partners within 9 short months of working together. Concur’s T&E system and our technology truly complement each other. It’s exciting to see that our partnership is already delivering compelling tax savings, process efficiency, and an overall better experience to Concur customers.”
“Monaeo builds on Concur’s promise to continuously add value for its customers by utilizing their Concur data to maintain compliance and reduce unnecessary spend,” said Jessica Pankov, Senior Director of Platform Marketing Global Products at Concur. “Monaeo is one of our valued App Center partners, and we are excited to continue delivering innovative solutions to our customers together.”
About Monaeo: Monaeo is a data analytics company helping businesses make smarter decisions about their mobile human capital. Monaeo’s secure platform helps companies and their employees manage complex cross-border tax issues including payroll withholding, permanent establishment, income allocation, and nexus. Early alerts, customizable thresholds, and seamless data feeds help companies automate their cross-border tax compliance and improve strategic business planning related to their mobile workforce. Monaeo customers see up to a 6 times ROI in compliance-related spend for this area.
About Concur: For more than two decades, Concur, an SAP company, has taken companies of all sizes and stages beyond automation to a completely connected spend management solution encompassing travel, expense, invoice, compliance and risk. Our global expertise and industry-leading innovation keep our customers a step ahead with time-saving tools, leading-edge technology and connected data, in a dynamic ecosystem of diverse partners and applications. User-friendly and business-ready, Concur unlocks powerful insights that help businesses reduce complexity and see spending clearly, so they can manage it proactively.