Expense management platform Emburse has acquired travel reshopping and analytics technology company Tripbam for an undisclosed amount.
Tripbam tracks and compares rates and automatically rebooks a traveler’s flight or hotel room if a lower price is available.
The acquisition strengthens Emburse’ offering, according to a statement, and aims to help its travel and finance customers better manage spend.
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Eric Friedrichsen, CEO of Emburse, said: “On the heels of the pandemic, businesses are seeing a strong desire for more employee travel, but a turbulent economy has CFOs and finance leaders looking for ways to keep those costs down without slowing the business, which is exactly what Emburse and Tripbam enable.”
Meanwhile, Steve Reynolds, founder and CEO of Tripbam, said the company was looking at its next phase of growth and felt it needed to “join an organization that has a strong track record of global growth and could support the world’s biggest brands.”
Emburse has made a number of acquisitions in recent years adding mobile corporate travel specialist Roadmap and data company DVI in early 2021.
Emburse was acquired by Certify/Chrome River in mid-2019 following the merger of the two companies in March 2019.
Travel and expense spend management has increased in priority according to the latest research from BCD. In a survey of 164 travel buyers, 88% said payment and expense management was either very or extremely important, compared to 76% in 2021.
Within payment and expenses, priorities rank from simplifying processes first followed by traveler satisfaction.