THE 2023 COUPA FINANCIAL SERVICES BUSINESS SPEND MANAGEMENT (BSM) BENCHMARK REPORT
Accelerate Your Financial Services Company's Performance
10 powerful KPIs to help you spend smarter, based on actual spend transactions and processing activity of nearly US$4.9 trillion of cumulative global business spend.
Download the 2023 Financial Services Benchmark Report
What’s Inside
Learn how financial services companies are using a BSM platform to improve:
- Spend control — How well do you use precision tools to contain costs?
- Profitability by managing spend — How easily can you find ways to boost margins
- Operational resilience — How resilient are your operations in the face of uncertainty and risk?
- Operational efficiencies — How well have you improved agility and productivity?
- ESG performance – How well do you drive positive change and comply with regulation?
This report is based on data anonymized and aggregated across more than 3,000 companies and $4 trillion in global cumulative spend.
INCREASE PROFITABILITY
DRIVE EFFICIENCY
MANAGE COMPLIANCE & RISK
WORK TOWARD ESG GOALS
Here’s a Sneak Peek
6.5%
Overall Savings
What impact can spend control make with a BSM platform?
6.5% Overall Savings
Improve margins through savings more than the typical 2% to 3% yield for traditional spend management approaches by applying BSM practices
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95.7%
Pre-Approved Spend
How much invoiced spend is linked with approved POs?
95.7% Pre-Approved Spend
Avoid fraud, blown budgets, and spend with risky suppliers by improving control over spend
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93.9%
First-Time Match Rate
How many invoices are matched with POs and receiving documents without exception handling?
93.9% First-Time Match Rate
Increase agility and productivity by bringing procurement and invoicing onto a single platform
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How Does Your Business Stack Up?
Understand how well the company is doing right now as a first step toward smarter ways of improving margins, doing more with less, and developing ESG commitments.
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