Demandbase Connect

March 6th, 2012

Coupa Sets Standard in Procurement Software With New Release

New Winter ’12 Release Underscores Coupa’s Ongoing Commitment To Reducing Maverick Spending and Providing Unparalleled Visibility into Transactions

 

SAN MATEO, Calif. – March 6, 2012 – Coupa Software, the leading provider of innovative cloud spend optimization software, today announced the availability of the Coupa Winter ’12 Release. The release includes a host of new features and reaffirms the company’s goal of helping customers reduce their spend and maximize profitability. Coupa’s Winter ’12 Release incorporates innovations that increase usability and help to promote a culture of responsible spending.

 

“Our focus is on customer success,” said Rob Bernshteyn, CEO of Coupa. “One ongoing challenge our customers face is to reduce maverick, off-contract spending. With this in mind, our Winter ’12 Release provides new ways to tackle this challenge. Since our solution is 100 percent cloud-based, our customers can take advantage of this and all of the new features immediately.”

With the Winter ’12 Release, Coupa is introducing many enhancements, including:

  • Coupa Universal Search – Coupa Universal Search improves customer spend under management for online purchases and provides an ongoing pricing audit to ensure supplier adherence to negotiated contracts.

When users shop for items, Coupa automatically searches across both local and online catalogs and returns results under existing negotiated contracts. This eliminates time spent by users “punching out” to multiple websites to find what they need. Additionally, suppliers can now offer their customers online contract pricing without incurring the cost of setting up punch-out capabilities.

Coupa Universal Search automatically updates pricing of online catalogs and checks for changes. Customers can use this to audit their pricing and ensure suppliers are adhering to their negotiated pricing.

  • Auto PO Closure – Auto PO Closure enables users to close books quickly and accurately. By leveraging the auto feature, purchase orders will close after periods of inactivity or when they are fully invoiced.
  • Smart Release – With Smart Release, clients can approve all requisition lines that have been evaluated against contracts, helping to expedite the review process.
  • Automatic Reminders and Escalations – To eliminate bottlenecks, the requisition will automatically be forwarded on if the current approver fails to take action in the allotted amount of time.

The Coupa Cloud Spend Optimization platform consolidates e-procurement and expense management capabilities into a single cloud-based solution for managing and more effectively controlling all business spending. Coupa updates the platform several times each year with new innovations and solutions to help organizations optimize company spend and impact their bottom line.

Additional features of the Winter ’12 Release include:

  • API improvement for creating receipts
  • Auto-recalculations of accounting totals to ensure accuracy
  • Split-line accounting on expense reports
  • Duplicate approval chains with copy and paste
  • Default account code from ship-to address
  • Keyboard shortcuts on data tables

 

About Coupa Software

Founded in 2006, Coupa Software is the leader in cloud-based spend optimization software. More than 200 customers in 40 countries use Coupa purchasing and procurement software to amplify their spend power and reduce spending up to 11 percent. Only Coupa provides a true cloud procurement application that enables customers to launch the solution rapidly and quickly realize significant savings. Learn more at: http://www.coupa.com or call 650.931.3200. Read more at our company blog, the Coupa Cabana, or follow @Coupa on Twitter.