Expense and invoice automation leader maintained strong revenue growth, while delivering new platform-wide product and service capabilities, and enhancing the customer experience
LOS ANGELES AND PORTLAND, MAINE - JANUARY 21, 2021: Emburse, a global leader in expense management and accounts payable automation solutions, enters 2021 with strong momentum, having finished 2020 with record revenues and double-digit growth. The organization maintained business growth during 2020 despite the impact of COVID, drove rapid innovation, and accelerated customer acquisition.
“Over the last year, the industry has seen unprecedented disruption due to the pandemic and its impact on business and travel. To continue our growth over the course of 2020 is a tremendous testament to the entire Emburse team,” said Eric Friedrichsen, CEO of Emburse. “Our commitment to humanizing work and delivering the best possible customer experience for our millions of users around the world is reflected by major investments in innovation across our portfolio of offerings. This has proven its value in a significant number of new and improved solutions, which in turn has driven revenue growth and high levels of customer satisfaction. Our market leadership was also recognized through the more than 25 awards and accolades for customer success and product innovation and leadership.
“This foundation has placed us in a very strong position as we enter 2021. We anticipate considerable growth in both existing and new markets in the coming year. We have a very comprehensive product roadmap in areas ranging from analytics and travel data, to payments automation, to continued automation and streamlining of the end-user experience. In addition, we have an extremely strong pipeline of high-profile organizations, so I am very optimistic about the prospects for Emburse’s continued success over the next year and beyond,” continued Friedrichsen.
Highlights from 2020 include:
Financial strength
Emburse maintained a strong pace of new customer acquisition and increased product cross-selling. As a result of its double-digit revenue growth Emburse maintained positive EBITDA throughout 2020.
Global customer wins and service expansions.
Signed 3,000 new customers, including high-profile organizations in industries from automotive and shipbuilding, to software, retail, higher education and consumer goods. In addition, many Emburse customers expanded their relationships with the addition of new products and managed services, including Sonoco, TIBCO, Toyota and the University of New Mexico.
Technology and Platform Innovation
Emburse accelerated innovation on its platform in 2020, enabling it to deploy new innovations faster across its suite of solutions. This resulted in a number of major product launches throughout the year. These include:
- Emburse Receipt Transcription - the industry’s most robust multilingual receipt scanning and data extraction solution
- Emburse Pay - a suite of global payment solutions encompassing employee spend, reimbursement and invoice payments
- Emburse Cards integration - enabling organizations to easily issue and manage policy-baked virtual and physical cards
Best-in-Class Customer Experiences
Emburse implemented a number of service-related solutions to improve the overall customer experience and further reduce the administrative burden on finance teams:
- Emburse Solution Administrator - providing ongoing implementation support and optimization
- Emburse Insight Advisor - powerful, customized business intelligence and reporting solutions
- Emburse Auditor - a dedicated team of expert auditors to help drive compliance, deploy tighter controls and reduce spend risk
Industry Recognition
Emburse’s focus on delivering a superior customer experience was recognized by more than 25 awards and accolades. These include:
- IDC MarketScape for Enterprise Accounts Payable Automation - Leader
- IDC SaaS CSAT Award for Travel & Expense
- G2 50 Best Financial Software Solutions
- TrustRadius TechCares Award
- Constellation Research Shortlist for Travel Management
- SoftwareReviews Expense Management Data Quadrant Gold Medalist
Growing Partner Ecosystem and Integrations
Emburse unveiled a number of cross-organization partner integrations, which enable its customers to further improve their overall experience. Some of these include:
- Integration with Triplog to streamline GPS mileage tracking and expense submissions
- Integration with Amazon Business and Mastercard, enabling touch-free creation of expenses from Amazon Business purchases
- Launch of Tallie Travel and Abacus Travel, powered by leading travel management company, AmTrav
- Launch of Emburse Global Reimbursements, powered by TransferWise, to speed and reduce the cost of international expense reimbursements
About Emburse
Emburse humanizes work by empowering business travelers, finance professionals, and CFOs to eliminate manual, time-consuming tasks so they can focus on what matters most.
Emburse offers a growing portfolio of award-winning expense and AP automation solutions, including Emburse Abacus, Emburse Captio, Emburse Certify, Emburse Chrome River, Emburse Cards, Emburse Nexonia, Emburse SpringAhead and Emburse Tallie. Its innovative offerings are tailored to meet the unique needs of specific industries, company sizes, and geographies, and are trusted by more than 4.5 million users in more than 120 countries. Over 14,000 customers, from start-ups to global enterprises, including Boot Barn, Grant Thornton, Telefónica, Lufthansa Systems, and Toyota rely on Emburse to eliminate manual processes, make faster, smarter decisions, and help make users’ lives - and their businesses - better.
Emburse is recognized as a leader in expense management and accounts payable automation by analyst firm IDC, and has received multiple awards for its high levels of customer satisfaction.
For more information on Emburse, visit emburse.com, call 877-EMBURSE, or follow the organization’s social channels at @emburse.