Gartner® Names Coupa a 2021 Magic Quadrant™ Leader in Procure-to-Pay Suites for the Sixth Time in a Row
2021 has been a year of ping-ponging focus between dealing with the pandemic, ongoing supply chain issues, and exciting opportunities to deliver on Environmental, Social, and Governance (ESG) initiatives. These tensions have highlighted the importance of P2P, as customers across the Coupa community have been able to harness the power of the spend they manage to deliver value in many areas at once.
Last week, Gartner announced that Coupa has been named a Leader in the 2021 Gartner Magic Quadrant for Procure-to-Pay Suites for the sixth consecutive time. We believe being named a Leader by Gartner is validation of Coupa’s approach to delivering the most comprehensive Business Spend Management (BSM) solution through Value-as-a-Service. Success is defined by much more than the capabilities of the technology itself.
User experience is critical to unleashing the full power of spend
Spend and BSM have amazing potential to deliver value in essential areas, from ESG and supplier diversity to resilience, savings, efficiency, working capital, risk mitigation, and innovation. But if users don’t adopt the platform and the tools needed, then that potential goes unrealized. It’s good to see that Gartner has recognized user experience as a key criterion when evaluating P2P vendors.
Organizations that deliver a great experience to their users and reach the adoption they’re looking for can achieve excellence. One such Coupa customer is the American Red Cross, a large organization that previously struggled with visibility and control over spend, as well as inefficient manual processes. They shared their success in a recent case study.
“With our BSM capabilities, we’ve increased our diverse spend across the supply chain to top tier levels as measured against benchmarks over the last four years. And low upfront costs and fast time-to-value have allowed this business process transformation to be self-funded.” — Tom Nash, Vice President Supply Chain and Chief Procurement Officer
Community is at the heart of the prescriptive intelligence
Coupa’s customers, along with Coupa employees and partners, are the heart of the Coupa community. The entire community has come together over the last year to share ideas and work together in group sourcing events to quickly overcome obstacles. Community intelligence lets these customers receive prescriptive insights into potential diverse spend, areas of risk, and ways to improve their processes, all powered by customers’ contributions of their anonymized spend data. As we look to 2022, we’re excited to think about plans to bring the community together.
The most comprehensive BSM platform in the industry
Of course, we are proud of the BSM platform itself, and of Coupa’s consistent ability to understand customer needs and quickly bring innovations to market that drive real results.
Coupa has grown to service more than 2,000 customers spanning the Americas, EMEA, and Asia Pacific, with 3,000 employees and more than 2.8 trillion dollars in cumulative spend under management. We’ve added several capabilities to our suite — including supply chain design and planning, as well as treasury management — and launched a new App Marketplace, broadening Coupa’s leadership in Business Spend Management and ensuring that our BSM platform is the most comprehensive in the industry.
Coupa extends to all spend
While Coupa lets customers start small to address their most pressing needs, they can expand their vision to include Supply Chain through Source-to-Contract, Third Party Risk, P2P, Travel & Expense, Payments, and Treasury. Services including external workers often represent untapped opportunity for savings and improved compliance. As you and your colleagues review the Gartner report, think about how getting visibility and control over all aspects of spend can deliver more value to your organization.
Thank you to the entire BSM community
Thank you to our customers and the entire BSM community for the hard work and commitment to our collective mission that helped us to be acknowledged as a Leader for the sixth consecutive time in 2021 Gartner P2P Magic Quadrant. You can view the full report here.
Magic Quadrant for Procure-to-Pay Suites Published 25 October 2021 - ID G00738241 - By Kaitlynn Sommers, William McNeill, Micky Keck, Patrick Connaughton
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