April 10th, 2013
Company Announces Coupa Sourcing Application and Coupa Release 9 with More Than 40 New Enhancements
SAN FRANCISCO – Coupa INSPIRE Conference – April 10, 2013 – Coupa Software, the leading provider of cloud-based spend optimization solutions for finance, today announced two new product releases, Coupa 9 and Coupa Sourcing. With the expansion of its product portfolio, Coupa offers customers the most comprehensive suite of organic, cloud-based spend applications in the industry. The announcement was made at the Coupa INSPIRE Conference in San Francisco this week.
“Coupa has led the market by making it easy for customers to drive buying compliance in frontline purchasing activities,” said Jason Busch, managing director at industry analyst firm, Azul Partners and Spend Matters. “The new Coupa Sourcing application adopts this same strategy. It simplifies complexity around basic request for proposals and negotiation while tightly integrating sourcing to the broader requisition-to-pay process. This capability and suite integration are likely to drive an increase in formalized sourcing activity, especially for categories and spot-buys which were not competitively bid in the past.”
Coupa 9 is a comprehensive release that reinforces the company’s commitment to cutting-edge innovation, customer-driven product evolution and frequent functionality enhancements. Coupa 9 delivers more than 40 new enhancements spanning the entire suite. Key highlights include:
- Rapid expense report creation with finer policy controls – Employees can easily create expense reports within Coupa that are automatically associated with electronic receipt images.
- Increased Accounts Payable (AP) operational efficiencies – AP staff are equipped with a series of real-time, contextual dashboards to better manage workloads, drive on-time payments and monitor electronic invoice adoption.
- Frictionless supplier invoicing – In addition to the wide array of electronic data-capture methods for invoicing, Coupa enables suppliers to email invoices into managed queues, while providing AP staff with split-screen views designed for complete invoice entry with minimal keystrokes.
- Expanded mobile support with Android – Road warriors now have on-the-go access to request approvals and expense reporting via the new Coupa mobile app for Android.
- Faster shopping experience and enhanced catalog management – Employees can rapidly find and requisition what they need with enhanced search results that provide more item detail and photos. The newest enhancements also make it simpler for buyers and suppliers to create richer catalog entries and perform ongoing catalog maintenance.
Release 9 also introduces Coupa Catalogs, an application that extends Enterprise Resource Planning (ERP) solutions with Coupa’s existing cloud-based shopping experience and catalog management capabilities. By integrating Coupa Catalogs with ERP applications, organizations can get more spend under management. In addition, users can increase efficiency and accuracy through centrally managed catalogs.
Coupa Sourcing is a new application designed with the vision of bringing sourcing to the masses, similar to what Coupa has done in bringing procurement to the masses with record user adoption. Existing sourcing products require specialists and are used only for major purchases, leaving large savings opportunities completely untapped.
Coupa Sourcing is woven into the same, proven Coupa procurement fabric, turning negotiated savings into realized savings. Customers get access to instant catalog updates and can identify ongoing savings opportunities driven by real-time spend across the entire organization. Key highlights of the new application include:
- Self-service event management – Sourcing managers and business users alike have the ability to utilize highly intuitive event management capabilities to source more commodities with fewer resources and in less time.
- Real-time enforcement – Coupa Sourcing’s native ties with the Coupa spend optimization applications enable sourcing managers to make items and services available in Coupa’s catalog, thus enforcing contract pricing so organizations realize the effects of pre-negotiated savings.
- Continuous recommendations – Coupa Sourcing gains intelligence from ongoing transactional spend and recommends new savings opportunities for customers based on observed spend behavior in the company.
Enterasys Networks, a leading global provider of unified communications (UC) solutions and network infrastructure for enterprises of all sizes, is a Coupa customer that is using procurement, invoicing and contracts applications. According to Chris Lavoie, director, application development and ERP for Enterasys, “For us, it’s a simple equation. The more our employees use our system, the more spend we get under management which increases savings on everything we buy. Coupa’s ease-of-use has made all of that possible. We’re excited to start using the new features available in Release 9.”
“Coupa 9 and the new Coupa Sourcing application continue our heritage in bringing software innovation to the spend optimization market,” said Raja Hammoud, vice president of product management at Coupa. “This is the fruit of true collaboration with customers and partners. We embarked on a very exciting journey to deliver exactly what the market needs to become optimally successful.”
Coupa 9 will be available on April 19, 2013. Coupa Sourcing will be available in Q2 2013. To inquire about buying the latest cloud suite of spend optimization applications, contact Coupa directly.
In other news this week, Coupa also announced the acquisition of Xpenser, a business alliance with KPMG and a technology integration with SnapLogic.
About Coupa Software
Founded in 2006, Coupa Software is the leading provider of cloud-based spend optimization software. More than 300 customers in 40 countries use the Coupa suite of cloud applications to amplify their spend power and reduce spending costs up to 11 percent. Only Coupa provides a true suite of cloud applications for finance, including procurement, expense management and accounts payable that enables customers to launch the solution immediately and quickly realize significant savings. Learn more at: http://www.coupa.com or call 650.931.3200. Read more at our company blog, Making Cents, or follow @Coupa on Twitter.