Third in a series of ’sneak peeks’ at Coupa’s blockbuster summer release.

What percent of purchasing requests get rejected right out the gate? How long does it take to get a request approved? How many suppliers do you have set up at your company for electronic PO and invoice handling? Every company is different when it comes to metrics like these, but what if your company had visibility to the aggregate data from across the Coupa customer network?

Benchmark your spending practices and performance against the larger Coupa customer community.

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?

With Coupa’s new Benchmarking Analytics, all this pivotal data, and more, will be at the purchasing organization’s fingertips. Procurement and finance professionals will be in a position to compare their performance against the market, learn from the community and apply smarter spending practices at their organizations.

To learn more, check back on www.coupa.com on June 15th, or contact your sales representative for a private screening of the new summer release.