Coupa is winning business from companies like Rent-a-Center that are looking for streamlined purchasing solutions that work a little more like consumer e-commerce websites and a little less like enterprise software. “We want to make it so intuitive that even if the alternative of going across the street to Home Depot is there, you’d never take it,” Bernshteyn says.
“In the past, our store staff spent too much time trying to navigate the ordering system in back offices,” Warrick says. “This [solution] gives them the tools to make better decisions about inventory with more efficiency. We need our store employees out on the floor, not in the back room.”
“Having our employees see pictures of the products they’re ordering, along with the cost, has prompted them to be better stewards,” Jones said. “In fact, we’ve seen a 3% decrease in supply spend because of it.”
Multichannel retailer The Container Store Inc. is processing 50% fewer purchase orders for indirect goods each week since implementing an Internet-based procurement and expense management system from Coupa Software Inc.
Coupa CEO Rob Bernshteyn chats with the This Week team about the future of procurement and cloud computing.
The fact remains that true SaaS-based dashboard solutions that provide real-time, real-world intelligence at the point of purchase is the long overdue response to the tired ERP-centric platforms offered through “Ariba, SAP or Oracle” . . . Vinimaya or jCatalog solutions notwithstanding.
It’s really a way to extend the value of that ERP system and there are certainly some complexities there, but when we’re talking in particular around these four customers that we mentioned in the press release, you know, Ravi’s team is measuring their implementation in this integration project in terms of hours. I think that’s a big difference from what most of these large enterprises have come to expect for any integration project, regardless of provider to their ERP systems.
We went live with it in June but now it’s very real. The paper slips can be burned, it’s all digital now! I don’t normally get excited about procurement, but this tool makes it cool, almost even fun. It’s very Amazon-like. I’m looking forward to seeing the details of how I allocate my funds as well as the macro level spending of our organization. If you have an opportunity to explore Coupa I highly recommend it.
Coupa is an e-procurement and spending management provider with a mission to build “procurement for the masses” through its SaaS solution. It says that existing solutions were developed to support a model characterized by scarcity of information, mandates from management, and a centralized bureaucracy that placed buyers in each business unit to purchase on behalf of others; market dynamics that foster the free flow of information and a self-service mentality have rendered existing models obsolete.
The promise of Coupa is that it is an extension of existing enterprise planning systems. In a nutshell, Coupa tries to make procurement easier for employees of all stripes within an enterprise.
…one of the more telling remarks came from Coupa’s Jason Hekl when he said, “we don’t even need to contact SAP, let alone engage them in any meaningful way to implement our solution.” They are “not necessary to the implementation process.”
A closer look at the spending problem reveals several new solutions made possible by the rapid pace of innovation by cloud computing application providers; and how those solutions make smarter spending an achievable goal for businesses.
In most organizations, spending and procurement are different disciplines managed by different people. In the end, however, they are about the same thing — spending the organization’s money. So it was only a matter of time before someone would combine the two. That’s what Coupa Software, a cloud-based SaaS spend management player, did. Read more >>>
David Howard, director of central purchasing for Reebok-Canada (Montreal), and a Coupa user, provides a user’s point of view. He likes the ease of use. “The screen looks like a web page and you only see what’s in your cue, which adds focus,” he says. “Because the cloud-hosted software is subscription-based”, he says, “it doesn’t take a lot of his internal resources.”
All in all, Coupa’s T&E makes a strong case for integrating T&E capabilities into a broader set of eProcurement tools. The real power of the integration, however, comes from an integrated budgeting and forecasting capability that, like ExpenseWatch, shows forecasting and actual numbers for both areas in an intuitive manner.
As I demoed Coupa’s latest release, what became clear is that they had thought through the key process flows from a T&E perspective and all of their key linkages into the procurement process. From a T&E user experience perspective, Coupa provides a highly intuitive experience that I felt was designed to be as painless as possible..
…where Coupa really excels with its latest release is not just in the functional addition of T&E reporting, a module that may prove sufficient for many companies but lacks some of the functional richness of Concur, Rearden and others. Rather, Coupa excels in the overall user, administrator and management experience. At all levels, Coupa has really thought through the essential information a user needs to consume with a minimum amount of navigational fuss.
“In challenging economic times, companies can boost profitability by unifying procurement activities and adopting strict metrics for purchasing”, says Rob Bernshteyn, CEO of Coupa Software, Inc.
Bottom line: if you’re a company with <$3 billion in annual revenue and you’re willing to work with a smaller provider, you owe it to yourself to put Coupa on a longer eProcurement shortlist. (If you’re <$1 billion in revenue, don’t even stop to think about it — check out Coupa as early as possible in your vendor analysis.)