Now You Know Where You Stand

In general, business performance is about beating your objectives, trending in the right direction and doing it better than the competition.

With its Summer 2009 release, Coupa customers can quantify the savings they generate, and benchmark their performance against the market for eighteen different key performance indicators, including:

Benchmark your spending practices and performance against the larger Coupa customer community. Sparklines identify trends in your performance.

• savings as a percentage of spend
• average requisition approval time
• percentage of requisitions rejected
• percentage of purchase orders revised
• percentage of non-matched invoices

Sometimes You Don’t Know What You Don’t Know

But with meaningful benchmark analysis, you can learn from the experience of others and apply that learning to making more informed spend management decisions.  For example:

• If you learned that, on average, 30% of spending requests are rejected, and your company is only rejecting 2% of requests, wouldn’t you want to consider implementing stricter spending approval policies, now that you have real data to justify this change?
• What if you learned that, on average, turnaround time from requisition to approval took two hours, while at your company the average is three days? Wouldn’t you consider simplifying the workflow and approval routing process at your company so that employees can get the goods and services they need to do their jobs faster? How much administrative burden and expense would that eliminate?
• What if you learned that most companies have at least three suppliers per commodity category where they take advantage of pre-negotiated discounts and where they conduct all transactions electronically? Wouldn’t you consider leveraging Coupa for streamlined electronic PO and invoice handling via the Supplier Network in order to save on transaction costs?