Press Releases

Coupa Report to CIOs: 91 Percent of Us Aren’t Using All Our Work Software

 Four in 10 Americans are frustrated when it comes to purchasing goods for work

 

SAN MATEO, CA – November 19, 2014 – Coupa Software, the leading provider of cloud-based financial applications to manage spend, announced today the results of its first annual Enterprise Software Survey.  In data that should be alarming to most Enterprise CIOs, an overwhelming ninety-one percent of Americans said that they do not use all of their software at work. The survey was fielded through TNS, a world leader in market research, global market information and business analysis.

 

According to the study, the top five reasons for lagging user adoption of enterprise software are:

                1.  Slows down or crashes their computers

                2.  Doesn’t always work correctly or isn’t reliable

                3.  It’s outdated

                4.  Isn’t user-friendly

                5.  Didn’t know the software was installed

 

“It’s an issue that should be on every CIO’s radar today,” said Rob Bernshteyn, CEO of Coupa.  “If companies are providing software that employees won’t use, they are exposing themselves to a host of risks and problems – from wasted resources to potential compliance issues.  Whether it’s mission-critical software or a desktop productivity app, if employees aren’t using their work software, it’s not only a major expenditure but also a glaring missed opportunity for the company.”

 

The Enterprise Software Survey found that more than four in 10 Americans (43 percent) are frustrated when it comes to purchasing goods for work and say that it impacts their ability to do their jobs. The top sources of frustration include:

                1.  Waiting for my purchases to be approved

                2.  Looking for the best deals

                3.  Filling out the expense report

                4.  Tracking my purchases

 

As a direct result, workers admitted to losing motivation, losing productivity, delaying making necessary purchases and not working as hard. More than one quarter of American workers (29 percent) said they do not use the software uploaded on their work computer because it is not required for their day-to-day jobs.

 

“Improving user adoption is a key challenge for many enterprise software companies,” continued Bernshteyn. “Purchasing items for work can be a particularly frustrating process for many employees. At Coupa, we’re focused on solving those pain points and delivering intuitive financial apps that people actually love to use. Coupa users have the added benefit of getting visibility and control into how their company spends money, giving them greater opportunities to save and to improve compliance. Coupa customers are saving between five and 10 cents on every dollar of their spending by leveraging our platform.”

 

 

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Coupa Ranked 53rd Fastest Growing Company in North America on Deloitte’s 2014 Technology Fast 500™

 Attributes 2,463 Percent Revenue Growth to Company’s Unwavering Commitment to Customer Success

 

SAN MATEO, CA – November 13, 2014 – Coupa Software,the leading provider of cloud-based spend management solutions for finance, today announced it ranked 53rd on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.

 

Technology Fast 500 award winners for 2014 were selected based on percentage fiscal year revenue growth during the period from 2009 to 2013. Coupa grew 2,463 percent during this period.

 

Rob Bernshteyn, CEO of Coupa, credited Coupa’s cross-company focus on customer success and product innovation as the primary factors that contributed to its ranking.

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Coupa Posts Breakthrough Third Quarter

 Global Cloud Leader Marks 23rd Consecutive Quarter of Subscription Revenue Growth; 

Grows Revenue by 100 Percent

 

SAN MATEO, CA – November 12, 2014 – Coupa Software, the leading provider of cloud-based spend management solutions for finance, today announced its Q3 2014 results, highlighted by a 100 percent increase in revenue over Q3 2013, record customer deployments and a record renewal rate. The company has now posted 23 quarters of sequential subscription revenue growth.

 

“Our third quarter was an exciting time as our investments in global expansion and product innovation came together to deliver measurable business results for our customers and record performance for our company,” said Rob Bernshteyn, CEO of Coupa. “We’re deeply proud of our position as the industry’s leader in cloud-based spend management and optimization and extremely thankful to our growing worldwide customer base. Together, we are reimagining our industry, with a tireless focus on delivering real, measurable business value.”

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Coupa Appoints Tara Ryan Chief Marketing Officer

 

SAN MATEO, CA – October 30, 2014 – Coupa Software, the leading provider of cloud applications for finance, today announced that Tara Ryan has joined the company as its chief marketing officer (CMO). As CMO, Ryan will have responsibility for the global structure, strategy and execution of Coupa’s communications and marketing efforts.

 

Ms. Ryan brings more than 20 years of experience in managing global marketing programs for technology businesses like Oracle, McAfee, Deloitte Consulting, NetSuite, Ketera and Zebra Technologies. She joins Coupa directly from Proofpoint, where she led the company’s global marketing and communications efforts, including marketing for the company’s initial public offering (IPO).

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Coupa’s New Release Expands Open Business Network to Drive Global Savings and Control

  Coupa Release 12 revolutionises supplier engagement, expands global compliance and enhances its recently introduced Inventory application

 

LONDON - COUPA INSPIRE EMEA – 16 October 2014 – Coupa Software, a leading provider of cloud financial applications, today announced a major new update, Coupa Release 12, which disrupts traditional supplier business network concepts to further consumerise business-to-business transactions between buyers and suppliers, creating efficiencies and eliminating costs while meeting the most stringent global regulations.

 

Release 12 adds functionality to Coupa’s unified suite and introduces an open business network approach that leverages native email functionality to take the friction out of business-to-business commerce. Additional improvements include streamlined global compliance, intelligent inventory and over 72 enhancements touching everything from analytics to mobility - further emphasising Coupa’s commitment to Savings-as-a-Service.

 

Reimagining the Business Network

Legacy business networks engage fewer than 30 percent of a given customer’s suppliers because such networks are difficult to join, inflexible and are expensive to use. The buyer is

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Coupa and NetSuite Partner to Transform Procurement and Expense Management, Driving Customer Savings

  Integrated Solution Provides Businesses Real-Time Visibility into Spending and Savings

 

LONDON, Coupa INSPIRE EMEA Conference — October 16, 2014 — Coupa, Inc. (Coupa) today announced a strategic partnership with NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites to jointly promote and market the Coupa Cloud Procurement and Expense Management SuiteApp built for NetSuite to businesses seeking to transform their procurement and expense management processes. The integrated solution helps business improve spend visibility, gain more control over their financial processes, improve purchasing decisions and realize savings that directly impact the bottom line.

 

Companies can realize huge savings by having their end users purchase goods and services through the best suppliers and in adherence to corporate policies; and by avoiding the inefficiencies of needing to find other channels or expensing purchases after the fact. This strategic partnership brings together the

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Coupa EMEA Posts Record Growth As Global Enterprises And Partners Embrace The Coupa Cloud Suite

 

  • Swiss Re, Liberty Global, Colas, Cofely, Royal Ahold and Aggregate Industries deploy Coupa’s suite of cloud financial applications to increase savings and financial control
  • Nine new partners in one quarter expand Coupa’s eco-system of providers
  • EMEA is Coupa’s fastest growing region with 250% YOY revenue growth drive
  • Worldwide customer support centre opens in Dublin and regional expansion in Paris, France and Coupa Deutschland GmbH in Frankfurt, Germany

 

LONDON – COUPA INSPIRE EMEA – 16 OCTOBER 2014Coupa Software, a leading provider of cloud applications for finance, announced today that it has continued to post record growth in the EMEA region. New global customers, nine new partnerships that extend Coupa’s services, and robust quarterly revenue growth fuelled this healthy expansion.

 

Coupa provides easy-to-use, cloud-based software that allows businesses of all sizes to gain more control over their financial processes, improve purchasing decisions and realise significant savings that directly impact the bottom line.

 

Already used by hundreds of companies in EMEA, more global enterprises are

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Coupa Kicks off Worldwide Roadshow Series

Events Announced in Chicago, New York, Toronto, Zurich and Sydney

 

SAN MATEO, CA – September 18, 2014Coupa Software, the leading provider of cloud applications for finance, announced today dates and locations for its annual roadshow event series, Coupa One Vision World Tour 2014.

 

The series will showcase how Coupa’s vision for financial management, operational efficiency and spend optimization is creating immediate success for customers.

 

Each one-day event will feature interviews with Coupa customers, roundtable discussions regarding industry and technology trends, best practices and product demonstrations. Attendance at the events is free-of-charge for all registrants. 

 

The One Vision world tour will visit five cities across the globe this fall, including Chicago, New York, Toronto, Zürich and Sydney. Information on the September 9 kickoff event in San Francisco is available on the event’s web page, including agenda, presentation videos, slide materials and more.

 

“Coupa's One Vision in San Francisco gave us direct access to the team that is driving the next generation of solutions,” said Steven Jo, head of sourcing and procurement at Silicon Valley Bank. "It was a great way to connect with other Coupa customers about their own use of the Coupa Suite to optimize the spend in their companies."

 

To learn more or register for the events, please visit the event pages using the links below.

 

About Coupa Software

Coupa Software is the leading provider of cloud-based financial applications. More than 450 customers in over 40 countries use the Coupa suite of financial applications to support business agility and reduce costs. Only Coupa provides a suite of true cloud applications for finance, including accounts payable, sourcing, procurement and expense management that allows customers to realize a return on their investment within a few months and savings that continually impact the bottom line. Learn more at www.coupa.com. Read more at our company blog, Making Cents or follow @Coupa on Twitter.

 

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Coupa Welcomes Roger Siboni to its Board of Directors

SAN MATEO, CA – September 18, 2014 – Coupa Software, the leading provider of cloud applications for finance, today announced that it has appointed Roger Siboni, former Deputy Chairman and Chief Operating Officer of KPMG, to its board of directors. Siboni is a recognized and widely respected business leader with more than 30 years of experience that has focused on executive level management in technology and finance.

 

Siboni spent more than 20 years at KPMG LLP, serving as Deputy Chairman, Chief Operating Officer and worldwide head of KPMG’s Technology Practice. While with KPMG, his operating experience helped the billion-dollar firm achieve triple-digit growth within its consulting and high technology practices. He then served as chairman and CEO of customer relationship management (CRM) vendor Epiphany, Inc.

 

Siboni’s experience also includes serving on the Board of Directors for several Silicon Valley companies such as Marketo, Postini, Macromedia, Infogroup, Active Software, ArcSight, IronPlanet, Cadence Design Systems and Dolby Laboratories. Siboni also served on the board of Mandiant Corporation, a key innovator in the area of IT security.

 

He served as chairman of the Haas Graduate School of Business at the University of California at Berkeley, and also served on the boards of the San Francisco Exploratorium and the Rhode Island School of Design. He has been a Certified Public Accountant in New York and California, and holds a B.S. degree in Business Administration from the University of California at Berkeley.

 

“Roger is an exceptional business leader, and we know he will be a huge asset to our board of directors team,” said Rob Bernshteyn, CEO of Coupa. “He has a wealth of operating, board and audit committee expertise gained through his executive and advisory roles, and he is also very well-connected in our industry. He shares our vision of working relentlessly to make customers successful.”

 

“I am both proud and excited to be a part of the company’s board of directors. I can see that Coupa has fundamentally transformed the way global companies large and small can create success in their businesses through SaaS-delivered financial applications,” said Siboni. “Coupa has created a repeatable recipe for success that is driving more global brands to the Coupa platform and fueling its global expansion.”

 

The news comes in a year of many major accomplishments for Coupa. In March 2014, Coupa announced $40M in venture capital funding to accelerate development and corporate expansion. The company announced a 100 percent increase in revenue in Q2 2014 over Q2 2013. Coupa was also recognized as a leader in the “The Forrester Wave™: eProcurement Q2 2014” report issued by Forrester Research Inc. in May 2014. More information on Coupa’s second quarter can be found in the company’s second quarter 2014 momentum press release.

 

Coupa now has approximately 270 employees and expects to grow to more than 300 employees by the end of the year. Coupa is actively recruiting for its engineering, product development, sales and marketing departments. Learn more about opportunities at Coupa on the company’s career page.

 

About Coupa Software

Coupa Software is the leading provider of cloud-based financial applications. More than 450 customers in over 40 countries use the Coupa suite of financial applications to support business agility and reduce costs. Only Coupa provides a suite of true cloud applications for finance, including accounts payable, sourcing, procurement and expense management that allows customers to realize a return on their investment within a few months and savings that continually impact the bottom line. Learn more at www.coupa.com. Read more at our company blog, Making Cents or follow @Coupa on Twitter.

 

 

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Bryce Berg of Molina Healthcare Wins Coupa Innovation Leaders Award

 

Fortune 500 health care provider takes on transformative approach to spend management

 

San Mateo, Calif. – August 28, 2014 – Coupa Software, the leading provider of cloud applications for finance, announced today that Bryce Berg, Molina Healthcare’s Vice President of Corporate Administration, has won Coupa’s Innovation Leaders Award in Healthcare. The award recognizes Berg’s successful transformation of Molina’s procurement sourcing and invoicing processes, an initiative that has facilitated Molina’s growth.

 

The Coupa Innovation Leaders Award recognizes individuals or teams who have

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