The total revenue generated by T&E management software will reach $16-billion globally by 2027; up from $8.7 billion in 2022, according to a new study from Juniper Research.
The research anticipates growing risks of employee expense fraud will drive demand for T&E management solutions. Manual T&E management practices are unable to detect expense fraud and incapable of identifying all cases of fraudulent activity due to the volume of expense reports submitted. Given these benefits are often overlooked, Juniper Research recommends vendors in the market prioritise development of AI-based anti-expense fraud capabilities and demonstrate these benefits when marketing their solutions.
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