You may have read that as SAP swallows Concur, business travel innovation goes down with it. This is absurd. Concur is much more an expense management software company than a business travel company. Is it innovative? Yes, but that's not how it got its travel cred. Concur has no monopoly on ingenuity and now, perhaps at its zenith, competitors smell blood.

As much as anything, Concur got to where it is because of a keen sense for acquiring development by others. In the years leading up to SAP's acquisition, Concur achieved significant market power in self-booking and . . .

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