Access exclusive data and insights to free up capital for growth

Structural cost pressures. Tighter financial conditions. Cost volatility. Supply chain disruption. Today’s economy is fundamentally different. And in this new era, the companies that can’t build margin multiplying capabilities are the ones that close their doors forever.

To guide business transformation, finance and procurement leaders can look to best-in-class performance in total spend management. See how top performers are using AI, data, and advanced technology to multiply margins and make smarter decisions.

2024 Benchmark report cover

This report features community-powered benchmarks across 22 KPIs to help leaders answer questions like:

  • To what extent is my business capable of stopping margin erosion?
  • How can my company transform spend management to gain a margin multiplier?
  • When and where can AI drive better outcomes and smarter decisions for my business?

Get started by downloading the 2024 Total Spend Management Benchmark Report.

What makes Coupa benchmarks unique?

Sneak peek: Key benchmarks for finance

savings icon5.8% overall savings

What it means

Traditional spend management approaches typically yield 2% to 3% in savings relative to overall spend. Top performers this year saved far more by applying total spend management best practices.

Why it matters
  • Total spend management is emerging as a reliable, sustainable, and comprehensive approach to ensuring profitable growth. Sales forecasts may stay unpredictable, so CFOs and finance leaders are paying closer attention to what they can control – spending practices across their organizations.
  • An investment in a total spend management platform gives CFOs and finance leaders the visibility they need to understand how resources are being used across the company.
  • Increased visibility across all spend types, from cost of goods sold (COGS) to operating expenses, helps leaders fund their company’s growth through ongoing and disciplined spend control.
How to improve

pre-approved spend icon96.1% pre-approved spend

What it means

The total amount of invoiced spend linked with approved POs, and what some leaders consider the ultimate benchmark.

Why it matters
  • Finance teams can inspect each transaction before the spend is committed and control costs in real time to meet targets and increase working capital.
  • AP generates accurate accruals without follow-up when teams have greater and earlier visibility into spend that’s committed but not invoiced.
  • It helps lower operating expenses since it’s more likely to go onto negotiated contracts, resulting in lower prices and better terms.
  • Virtual cards help streamline pre-approved spend. Teams can increase liquidity by driving card rebates and optimizing the card’s payment cycle.
  • Fraud prevention is more robust when more invoices are matched against POs automatically.
How to improve

invoiced paid icon

95.8% invoices paid digitally

What it means

The percentage of invoices tied to digital payments out of all the total electronic invoices processed on the Coupa platform.

Why it matters
  • They enhance risk mitigation. Digital payments improve payment security and fraud detection through additional control mechanisms and AI-driven learning.
  • AP teams work much more productively with touchless operations. Digital payments reduce manual work to increase SG&A efficiency, and they enable automatic reconciliation.
  • Teams can also see which payment to make when, without error. This creates more opportunities to optimize working capital and manage cash through virtual cards and early-pay discounts.
  • It’s easier to strengthen relationships with suppliers when they know they’ll be paid – in the right amount, on time, and consistently.
How to improve