With continuous growth for the past 14 quarters, 95% renewal rates for subscriptions, and 126% growth in annual contracts, Coupa’s CEO Rob Bernshteyn seems to be way ahead of his competition. Yet, he still considers Coupa the underdog in the e-procurement platform industry.
The company even pulled in Coca-Cola Bottling, Orbitz, and AAA Insurance into their roster. Oh and they just raised another $22 million in Series E led by Cross Link Captal. I forgot to mention they were also voted one of the best places to work in the Bay Area by the San Francisco Business Times. It’s like some sort of idyllic Charlie and the Chocolate Factory scenario playing out over at Coupa’s offices.
Hiring has been weak for the past few months, with the unemployment rate at a steady, high 8.2 percent. Those of you lucky enough toscore an interview can't afford to bring anything less than your A-game in this job market. Here are some of the best ways successful candidates have left a stellar impression on an employer during an interview:
1. For non-creative jobs, bring one sample of your best work. While a portfolio filled with brilliant samples is not required for non-creative jobs—leaving one example of your best accomplishment is a great way to leave a lingering presence long after your interview. This can mean any tangible evidence of great work you've done in the past, whether it be reports, guidelines, media clippings, or awards. Entrepreneur and Manager Trainer Karen Southall Watts warns against overloading your interviewer with too many samples for non-creative jobs. "Years ago, I actually did this myself and the hiring manager was really overwhelmed and didn't seem to know how to react," she says.
Enterprise spending on cloud computing growing at a faster rate than overall IT spending will pose a challenge to legacy hardware and software vendors, Gartner cloud forecaster Ed Anderson says.
Cloud computing is expected to grow 19% in 2012, becoming a $109 billion industry compared to a $91 billion market last year. By 2016, it's expected to be a $207 billion industry, according to Anderson's latest findings. That compares to the 3% growth expected in the overall global IT market. While it's true that the $109 billion cloud market represents just a 3% chunk of the overall $3.6 trillion spent on IT globally, Anderson says it's still responsible, in part, for a slowdown in growth for traditional on-premise hardware and software sales.
This year is whooshing by! It feels like just yesterday when Beyoncé gave birth to the coolest baby on the planet; KimDotcom finally got popped for his ginormous (alleged) media piracy operation; and LeBron James literally jumped over Chicago Bulls’ John Lucas for a slam dunk.
The business community, including the analysts and commentators, have for a long time been obsessed with two things about e-procurement solution vendors, both of which are irrelevant. The first is functionality – the second is share price.
No wonder e-procurement doesn’t work.
Q. There’s a significant amount of “noise” about Coupa at the moment. Why do you think that is?
A. I think there’s been a sea change in how the whole P2P process can be run, a re-thinking of how it can be supported through IT. The way that the tools can now be adapted to optimise spend via the cloud has not really been seen before. And I think the reason why there’s the “buzz” around Coupa is that quite simply, we do it better. Ultimately it’s the customer who decides an organisation’s success or otherwise, and if you can provide them with a means to do things better and more easily, then those customers are going to keep coming back.
Like many CFOs, Kevin Gordon is preoccupied with risk. The finance chief of Quintiles, a company that provides services to pharmaceutical and medical-device companies, says risk management is on his mind “every minute of the day.”
Gordon is particularly concerned about emerging risks — the kind that materialize rapidly, seemingly out of nowhere, and wreak havoc. Accordingly, he monitors economic developments and regulatory activities in the 60 countries where his company does business. When the European debt crisis took shape last year, he pored over the company’s cash holdings in overseas financial institutions and examined those banks’ stability.
When one thinks of wealth creation in the US over the past fifteen years, one immediately thinks of the companies that have emerged from the technology industry. Google, Apple, Amazon, Facebook, DropBox, etc, were started with an idea from a young buck, and have morphed into companies that have actually changed our behavior, and they have done so through sustainability. So, what gives Silicon Valley its hyper growth edge?
Rob Bernshteyn, CEO of Coupa, has been through this cycle before and shared his insights with me. Early in his career, Rob had been at Accenture, McKinsey, and Goldman Sachs so he is well aware of how traditional, successful, blue-chip companies are managed. Later in his career, he became a VP of a cloud-based talent and employee services firm, and had a bird’s eye view into many industries. Rob’s contention is: Silicon Valley embraces a different, non-traditional management style that creates environments that foster growth, creativity, innovation and employee retention.
The more I look at the proposed acquisition of Ariba by SAP, the less sense it makes. SAP didn’t need the functionality. They didn’t need the brand. The Ariba shareholders will clearly be pleased to see this deal go through but what, I wonder, would an SAP sales guy be thinking and what would Ariba’s competitors be making of it all?
Over the last few days, I’ve been receiving various communications, and reading public messages from competitors of SAP and Ariba, wishing them well and offering them sincere congratulations and good wishes for the future following the announcement of the SAP acquisition.
Rewind… Not quite!
Rather, we’re seeing the early stages of what is going to be a scramble as firms position, or in some cases re-position themselves, for the post-SAriba landscape. And the knives are coming out – here’s Rob Bernshtyn of Coupa (my italics).