The ladies and gentlemen of Coupa (spend management software) were in London Town recently on their global “ELEVEN Crank the Savings World Tour”. (Yes, they are from California, how did you guess)? And if you’re wondering why they called it that, see the video clip at the end of this post… And just to confuse things numerically, their new software release is “Coupa 8”.
Here's another indicator of the strength of the Bay Area's startup culture. Three-fifths of the companies in the Wall Street Journal's annual "Next Big Thing" ranking of the country's most promising new venture-backed companies are from the region that includes San Francisco and the Silicon Valley.
Strengthens product offerings. SnapLogic offers an integration platform, integration server, integration design tool, and integration market place designed for the cloud world. With almost 100 Snaps in its appstore and almost 200 built to date, users can easily integrate best of breed cloud apps in thousands of combinations. The ecosystem includes free snaps such as Amazon EC2, Box, Clarizen, Facebook, Flickr, Four Square, Twitter, Yelp, and Zoho. Paid snaps include popular enterprise apps such as Coupa, Eloqua, Financial Force, MarkLogic, Microsoft Dynamics CRM, NetSuite, Oracle Peoplesoft, Parature, RightNow, Salesforce.com, SAP, and Zuora.
Redwood City has undoubtedly made a reputation for itself as a prime location for successful start-ups and influential companies.
WSJ publishes an annual ranking of the 30 companies nationwide that their reporters and business analysts believe are pegged to become "the next big thing." In this year's rankings, three-fifths of all the companies are located in the Bay Area - and three of them are in Redwood City.
Coupa now connects customers with more than one half million worldwide suppliers. Through the Coupa Supplier Network and other direct connectivity options, suppliers can easily engage with customers to complete business transactions.
Remember e-procurement? Remember all those stories about companies spending £50 to buy a packet of paper clips that would cost an individual 50p down the local stationery shop? Remember how the purchasing department’s paper chase was going to be reined in once and for all?
SHARING THE BURDEN
New regulations and global uncertainty are reviving corporate focus on payment factories and in-house banks.
As companies look further outside their borders for new growth and increased regulation makes tracking cash flows even more crucial, interest in centralizing and standardizing payment flows is growing. Depending on the company, this could mean implementing a payment factory, an in-house bank and/or a shared services center. A payment factory, as the term implies, generally refers to “centralizing payments through a single hub,” notes Andrew Owens, senior vice president of enterprise payments with SunGard AvantGard. The objective typically is to drive transaction efficiency by standardizing processes and eliminating redundancies.
Venture capitalists are still investing in flashy Internet start-ups, but the "Next Big Thing" is more likely to be a maker of humdrum Internet plumbing for businesses.
The Wall Street Journal's third annual ranking of the top 50 venture-capital-backed companies shows a crop of contenders that overall are focused less on online consumers than in years' past.
Contract management as we've historically looked at it has been a stand-alone sector of the procurement market. It's also been stand-alone of procurement, for that matter. When focused on legal and/or sales as the target users, it requires a number of key areas of capability coverage in terms of vendors. In our own analyses for clients in contract lifecycle management (CLM) evaluations, these have included discrete capabilities in areas like authoring/drafting, clause scoring/clause libraries, clause analytics, workflow and recommendations, broader analytics, basic negotiations, approvals/workflow, compliance, monitoring, administration and broader systems integration. Systems integration alone, especially for P2P, direct and services procurement, has been a major area of integration in some of the more customized instances of CLM software we've seen.
Coupa 8 was a featured "Product of the Week" in Network World magazine.
Key features: Coupa 8, which includes new modules - Coupa Smarter Contracts and Coupa Invoicing, gives customers further insight into overall spend, so they can reduce costs and directly impact the bottom line. More info.