We're big believers that 2013 is going to be the year that procurement technology adoption takes off in the SMB procurement market. But which technologies across the source-to-pay continuum are most suited to small and middle market environments? Hint: it's only a handful. Granted, there are opportunities for the full suite of capabilities (including strategic sourcing, eProcurement, e-invoicing, contract management, supplier management and related areas) from Ariba, SAP, Oracle, SciQuest and others that sell end-to-end capabilities (typically to much larger companies). Yet we believe that smaller and middle market companies are going to prioritize just a handful of areas for investment.
As the year draws to a close, the question is – did 2012 deliver? Of course, as with many things, the answer depends a lot on who’s asking – and perhaps predictably the ultimate answer can only be one of yes...and no. Take the cloud for example. At the start of the year there was a lot of optimism around how the cloud was going to revolutionise B2B communications, and although to some extent it has, overall the uptake has been slower than predicted - mostly because of confusion over its application and concern over pricing structure and security.
Rob Bernshteyn got his entrepreneurial start in high school when he launched and managed a successful sports memorabilia business serving collectors on the East Coast. He became the youngest licensed sports collectables vendor and entrepreneur across what was a competitive landscape of more than 250 national distributors at the time. Fast forward – Bernshteyn has become an accomplished executive with 17 years’ experience in the software industry, specifically within traditional and software-as-a-service based models. Since founding Coupa Software, he has led the company through 13 consecutive quarters of revenue growth, highlighted by a 95 percent customer renewal rate.
Earlier this morning, Coupa and OB10 announced a partnership in the accounts payable area, enabling Coupa's eProcurement users to tap the OB10 network for e-invoicing connectivity. According to the announcement, the "strategic partnership will provide Coupa customers with seamless integration to eliminate the need for paper invoices ... As a result of the Coupa/OB10 partnership, invoices from suppliers' billing systems now flow seamlessly into Coupa's cloud solution ... reducing invoice processing time, reducing costs, and introducing opportunities for early payment."
CIO — Adidas Latin America decided to implement cloud-based procurement software to improve internal compliance and consolidate spending management. The company is a regional subsidiary of the Adidas Group sporting goods empire, which includes brands such as Adidas, Reebok and Rockport.
Procurement at $1.4 billion Adidas Latin America was complex--involving different currencies and languages--and disjointed. Some countries had developed homegrown procurement solutions; others had paper-based processes.
When last we sat down with Rob Bernshteyn, CEO of spend management start-up Coupa, the firm had talked about its intentions to expand into Europe. Things are moving on rapidly...
People buy software for one of two reasons: to make money or to save money. If it doesn't do one of the two, they won't spend the money.
When cloud technology entered the scene, companies saved money because of faster deployments (faster time-to-value), and ultimately increased return-on-investment (ROI).
As we move into 2013, we'll see even more people embracing the cloud within their own companies as the technology continues to become more mainstream.
Adopting the cloud - or more specifically, a 100 percent true cloud solution - as part of a company's tech strategy can serve as a serious game-changer.
In the UK, they’ve become the preferred partner for procurement-to-pay for Bourne Leisure. Whilst you may not have heard of them, one of their three main brands is a UK household name – Butlins! Ah, happy memories of that holiday in Butlins Ayr many, many years ago…. The other brands are Warner Leisure Hotels and Haven, and overall they’re a substantial privately owned business, with over 12,000 staff.
In a further example of the rapid expansion of Coupa Software into Europe, the organisation today announced that Bourne Leisure, (owners of Haven Holidays, Butlins sites and Warner leisure hotels),NNIT A/S, a leading IT consultancy in Denmark, and the digital music site Spotify, have selected Coupa as their spend optimisation solution.