Among the nine Supplier Value Management (SVM) platforms evaluated, Coupa is recognized with the highest score in the current offering category in The Forrester Wave™: Supplier Value Management Platforms report. SVM platforms refer to software tools used by procurement, finance, and supply chain teams to effectively streamline the job of creating and sustaining robust relationships with suppliers. Forrester called out Coupa’s use of AI, exceptional innovation, and customer focus specifically noting the following:
A strong customer-oriented culture with a market-leading innovation strategy and an extensive partner ecosystem.
Source-to-contract and supplier relationship modules, which leverage AI for optimization and offer customizable templates and content suitable to a wide range of enterprise maturity levels.
A no-code and user-friendly platform with superior extensibility and strong integration with environmental, social, and governance (ESG) principles.
Why supplier value management matters
Ongoing inflation, interest rates, and supply chain disruptions put margins at risk of erosion. Finance and procurement leaders know they can’t cut their way to profitable growth. And they’re increasingly turning to their suppliers to help create sustainable sources of value that optimize margins. Strong relationships with suppliers give companies more options to negotiate favorable terms, collaborate on roadmaps, and resolve issues faster. The first step for finance, supply chain, and procurement teams: break down data silos and increase visibility to automate processes, mitigate risk, and control costs with precision. Supplier value management tools help these teams maximize value from suppliers by streamlining processes for sourcing, contracting, purchasing, and staying connected.
“Organizations looking for an SVM vendor with a comprehensive solution and exceptional customer support should look to Coupa.”
How Source-to-Contract with Coupa supports your success
Transparent sourcing and contracting helps identify savings opportunities while efficiently managing suppliers and contracts in one place.
Identify and cultivate top suppliers: Use pre-built templates and guided workflows to create and manage sourcing events.
Streamline sourcing and procurement processes: Access more than 10 million suppliers in our database along with AI insights to find low-risk choices and onboard quickly all while controlling spend with one easy-to-adopt platform.
Enable clear insights into real-time spend: Use our AI to compare performance against peer benchmarks and leverage prescriptive insights to optimize your spend.
Manage risk and compliance: Powerful AI replaces manual auditing by monitoring the accuracy of every transaction and payment detail, preventing duplicate invoices, and flagging errors and fraud in real time. Quickly identify compliant suppliers from a diverse supplier base and track your ESG goals with real metrics and dashboards.
Retailer digitizes 70% of Source-to-Pay (S2P) with Coupa
Casey’s is the third largest convenience store retailer in the U.S. and knew it needed to digitally transform across all operations to keep it thriving. The leadership team decided to move away from manual and paper-based processes that were managed by individual business units and instead implemented a procurement function and hired Jamie Robles as the Chief Procurement Officer to implement the vision for a “procurement tech house.” As part of the overhaul, Casey’s selected Coupa as a technology partner to help with digitizing and standardizing processes, while giving staff access to self-service capabilities.
In one year, the company digitized more than 70% of source-to-pay processes, a 3x increase over 20% the previous year. This transformation provided a new level of transparency, enabling a view into spending by supplier, down to the category level, and illuminating areas for savings. “We use Coupa to make procurement invisible, which means using technology to give every operational team the data and tools they need to make the best decisions for the business. They have all the power to do their job without a lot of oversight.”
Drive margin impact with supplier value management
Now more than ever, suppliers have the potential to be strategic value contributors. With the supplier value management capabilities, teams in finance, supply chain, and procurement can work as one to build stronger relationships and optimize costs to fund growth. United business functions provide the strategic advantages that are essential in navigating current economic conditions. Whether it’s leveraging AI for efficient supplier sourcing and management or staying compliant with changing regulations, Coupa helps companies of every size streamline operations, mitigate risk, and create a margin multiplier effect.