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 transformed their organizations through new approaches to business and technology that create measurable value. Berg is the first recipient of the Coupa Innovation Leaders Award for Healthcare.
Such transformational efficiency programs are especially important in the health care industry, particularly as the Affordable Care Act increases the pressure on providers to find new ways to reduce the overall cost of health cre.
Molina Healthcare provides quality health services to financially vulnerable families and individuals covered by government programs. Molina Healthcare has health plans, medical clinics and a health information management solution. No other organization of its kind does all three.
Bryce Berg joined Molina Healthcare in 2010, just as the company had rapidly expanded from 3,000 to 4,000 employees following an acquisition. At that time, the company’s contracting and procurement processes were being handled by each of its individual business units. As Molina grew, it became clear that a centralized procurement operation was needed – one with expertise in areas such as sourcing vendors and negotiating contracts.
“We had enough volume that we could fund the entire central organization just with the savings we would generate from centralizing these processes and by negotiating better contracts,” said Berg. “This project was a key element of Molina’s ongoing effort to manage our administrative costs.”
The company deployed Coupa in 2012 and used the cloud-based platform to automate its procure-to-pay processes while giving employees an easy-to-use web-based system that took the pain out of the purchasing process. As Berg expected, the project also uncovered hidden risks in the previous processes - unfavorable contract terms, inconsistent legal review and others – and helped the company address them.
Key success metrics with Coupa include:
“Molina’s management team knew the company could leverage its spending a lot better – to be smarter about the way that the company purchased and paid for goods, said Berg. “But as the project unfolded we uncovered and eliminated risks. Management saw an entirely new dimension of value at that point.”
“Molina is one of our most forward-thinking customers,” said Rob Bernshteyn, CEO of Coupa Software. “Bryce has championed a spend management program that has transformed Molina, showcased the value of the Coupa platform and now serves as a playbook for our clients in the healthcare industry and beyond.”
Molina’s growth continues. Membership in 2014 is substantial as the company grows in states, such as Ohio, California, Illinois and others. Molina entered 2014 with 1.9 million members and is over 2.3 million today.
About Molina Healthcare
Molina Healthcare, Inc., a Fortune 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through our locally operated health plans in 11 states across the nation, Molina currently serves approximately 2.3 million members. Dr. C. David Molina founded our company in 1980 as a provider organization serving low-income families in Southern California. Today, we continue his mission of providing high quality and cost-effective health care to those who need it most. For more information about Molina Healthcare, please visit our website at www.molinahealthcare.com.
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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Dublin Centre to Serve as Customer Success Basecamp for Company’s Fastest-Growing Region
DUBLIN – 20 August 2014 – Coupa Software, the leading provider of cloud applications for finance, announced today the opening of a new European customer support hub in Dublin, Ireland. The addition is a key element of Coupa’s global expansion plans and will accelerate the cloud-enabled automation of financial processes for businesses based in Europe, helping them save millions.
EMEA was Coupa’s fastest-growing region during the first half of 2014 as sales grew by more than 200 percent compared to the first half of 2013.
“With a relentless focus on customer success, we created this support hub to be closer to our customers in EMEA and to significantly enhance our global support capability,” said Rob Bernshteyn, CEO of Coupa. “Our customers in this region can expect immediate value as we accelerate and better localize our support capabilities. The Dublin team is a self-sufficient provider of local customer service and is a key element of our expanding global operations.”
The Dublin centre helps Coupa address requirements particular to the European Union such as data privacy and protection regulations – key factors for European companies considering cloud-based technologies.
The centre also expands the time-zone coverage of Coupa’s combined global customer support organisation, giving the company the ability to work directly with customers locally while benefiting from a more globally integrated technical support capability. Coupa estimates that it will reduce turnaround time for customer service requests by up to 50 percent in both EMEA and North America.
"We see Dublin as the ideal springboard for our expansion in EMEA. The Silicon Docks in Dublin are a rival to other tech hubs around the world,” said Alex Kleiner, General Manager, Coupa EMEA. "Given Dublin’s incredibly strong pool of engineering talent and its entrepreneurial spirit, it makes sense that so many Silicon Valley companies like ours are expanding or launching operations here."
Coupa also announced it has named Kieran Brady of Coupa Dublin as the company’s head of customer support worldwide. As Vice President of Global Technical Support and Technical Account Management for Coupa, Brady will head Coupa’s support teams in Dublin as well as San Mateo, California and Reno, Nevada.
“We are thrilled to have Kieran lead our globally integrated customer support function from our Dublin centre,” said Kleiner. “These are the first of a number of initiatives in Coupa’s global expansion that help us scale quickly to meet demand while ensuring the top-of-class customer support that has always set Coupa apart.”
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 will hold its first annual Coupa INSPIRE EMEA conference in London on 16 October 2014. Coupa INSPIRE is an event where organisations can hear first-hand from Coupa customers, company experts and other industry visionaries on the power of cloud-based spend management. To register or learn more about the event, visit http://coupainspire.com/.
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.
To contact Coupa EMEA directly, visit http://www.coupa.com/our-offices or dial +44 (0) 207 203 2043.
About Coupa Software
Coupa Software is the leading provider of cloud-based financial applications. More than 450 customers headquartered 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: coupa.com. Read more at our company blog, Making Cents or follow @Coupa on Twitter.
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Growth of More than 1000 Percent Secures Coupa’s Debut in Inc. Magazine’s Annual Ranking
SAN MATEO, Calif. – August 20, 2014 – Coupa Software, the leading provider of cloud solutions for finance, today announced it has been named to the Inc. 500 list for 2014. It is Coupa’s debut in the annual list, highlighting revenue growth of 1,023 percent between 2010 and 2013.
The Inc. 500 is an annual list of the fastest growing private companies in America. The companies must be U.S.-based, privately held, for profit and independent – not subsidiaries or divisions of other companies – as of December 31, 2013. The companies of the Inc. 500 represent the
Second Quarter marks 22nd consecutive quarter of subscription revenue growth
SAN MATEO, Calif. – August 12, 2014 – Coupa Software, the leading provider of cloud-based spend management solutions for finance, today announced its Q2 2014 results, highlighted by a 100 percent increase in revenue over Q2 2013 and record attendance at Coupa’s annual INSPIRE Conference. Additionally, the company has now posted 22 quarters of sequential subscription revenue growth.
“Coupa has enjoyed such consistent growth because of the unique partnership we forge with our customers in driving measurable business results,” said Rob Bernshteyn, CEO of Coupa. “We’re deeply proud of our position as the industry’s leader in cloud-based financial applications and extremely
'Maniacal Customer Focus' Earns CFO Respect in 'Quality of Work'
SAN MATEO, Calif. – July 31, 2014 – Coupa Software announced today that it has been named to the CFO Forum’s Best Suppliers 2014 List. Coupa was noted specifically by CFO voters as a leader in the industry in the ‘Quality of Work’ category.
“We take great pride in being named a Best Supplier on this year’s list,” said Rob Bernshteyn, CEO of Coupa. “Creating customer success is
Recognized for creating technology innovations for the Global Silicon Valley
SAN MATEO, Calif. – July 17, 2014 – Coupa Software announced today that it has been chosen by AlwaysOn as one of the AlwaysOn Global 250 winners. Inclusion in the AlwaysOn Global 250 signifies leadership amongst its peers and game-changing approaches and technologies that are likely to disrupt existing markets and entrenched players in the Global Silicon Valley.
Coupa was selected based on a set of five criteria: innovation, market potential, commercialization, stakeholder value, and media attention. Coupa and the AlwaysOn Global 250 companies will be honored at AlwaysOn’s 12th annual Innovation
Leader in Energy Distribution Systems Slices Approval Times
for Capital Equipment by Almost Two Days
SAN MATEO, Calif. – June 13, 2014 – Coupa Software, the leading provider of cloud applications for finance, today announced it has driven success for NPL Construction Co., a leader in energy distribution construction. By using Coupa, NPL has decreased request-to-approval time on capital equipment by 11 hours and achieved significant cost efficiencies through a better-managed supplier network.
Cloud spend optimization leader establishes original Siebel Systems offices as their new global headquarters
SAN MATEO, Calif. – June 12, 2014 – Coupa Software, the leading provider of cloud applications for finance, today announced that the company has relocated its two downtown San Mateo offices to one new worldwide headquarters complex. The 26,200 square-foot offices, located at 1855 S. Grant Street, originally housed Siebel Systems. Coupa has global offices throughout the United States, EMEA, and Australia.
“Our rapid hiring and maniacal focus on customer success required us to invest in one large central location for our growing employee base,” said Rob Bernshteyn, CEO of Coupa. “It’s fitting that our new world headquarters will be in the original offices of Siebel Systems. While Siebel Systems was an early innovator in helping companies leverage information technology to drive sales effectiveness, Coupa is helping companies on the other side of the transaction. We are pioneering a new category of applications that help companies leverage information technology to optimize their spending.”
Annual industry report from leader in cloud financial applications reveals key performance indicators for procurement and financial leaders
SAN MATEO, Calif. – June 3, 2014 – Coupa Software, the leading provider of cloud applications for finance, today made available its 2014 Coupa Benchmark Report, the industry’s leading annual benchmark of key performance indicators for procurement and financial leaders.
As companies seek to improve their performance in driving savings and increasing efficiencies, the Coupa Benchmark Report serves as a powerful tool for measuring a company’s spend optimization performance relative to that of the overall market. By comparing their efforts to other businesses, finance professionals can better understand the relative effectiveness of their efforts and find areas of opportunity for future growth.
Coupa Received Highest Score for Both Current Offering and Strategy
SAN MATEO, Calif. – May 23, 2014 – Coupa Software, the leading provider of cloud applications for finance, today announced that the company was recognized as a leader in the “The Forrester Wave™: eProcurement Q2 2014” report issued by Forrester Research Inc.
Coupa was among the select companies Forrester invited to participate in the independent report, which evaluated 11 of the largest Procure-to-Pay platforms by their ability to deliver visibility and control through high user adoption.