Among the seven companies evaluated, Coupa is recognized as a Leader in The Forrester Wave™: Accounts Invoice Automation, Q3 2024. Forrester notes the following about Coupa in the report: advanced AI and analytic capabilities, a strong ecosystem of partners and peer communities, and a seamless payment and payment reconciliation experience praised by reference customers.
Why AP matters
Nearly 90% of CFOs are concerned about hitting their sales and revenue targets this year and say rising interest rates, increasing energy costs, and supply chain disruptions are their most significant obstacles. Managing cash flows with precision and speed has never been more important to protect and expand margins in today’s tough economic landscape. An efficient and productive AP department is critical in making that happen. Companies with well-functioning AP processes are able to meet financial obligations despite disruptions, better predict cash flow needs to effectively manage working capital, and drive automation efficiencies to support growth.
Coupa AP automation in action
Gamestop is a Fortune 500 specialty retailer that sells games and entertainment products worldwide in over 4,500 stores and e-commerce sites. After several acquisitions and a record-high stock year in 2021, Gamestop experienced rapid growth. However, its AP department couldn’t keep up. The team was stuck manually processing 750,000 global invoices, which made scaling difficult and forced an increase in headcount expenses.
After switching to Coupa’s AP Automation software, Gamestop drove resource and operational efficiency with automated workflows and AI-driven insights. The company now manages 92% of invoices electronically and decreased its invoice cycle time by 70% — all while reducing headcount by 20%.
Here’s how Coupa transforms your AP process
Coupa’s AP Automation software on its total spend management platform enables AP teams to prioritize important tasks, minimize errors, and reduce workloads so they can focus on areas critical to the business, such as days payable outstanding (DPO) and optimizing working capital. Coupa sets itself apart from others in the industry by:
- Using AI and community data to reduce risk: 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. More than $5 trillion in anonymized customer data is used to train Coupa’s AI/ML-based risk models, making Spend Guard one of the most effective and accurate risk management solutions available.
- Providing robust offerings from day one: Touchless invoice processing, intelligent approval workflows, and streamlined payment management in one central place provide the visibility, control, and automation companies need to limit bottlenecks and optimize operations. With Coupa, Gamestop achieved an 82% increase in first-time match rate, giving its AP team the time to focus on more analytic work. Plus, the company relies on Coupa’s out-of-the-box regulatory and tax compliance for over 50 foreign government-mandated electronic invoicing networks and clearance models to simplify and stay compliant in its global operations.
- Supporting scalability with an ecosystem of partners: Companies can meet their business needs now and add additional services or solutions in the future with Coupa’s expansive partner ecosystem. Coupa Pay works with some of the world’s greatest financial institutions and payment technology providers to make it easy for companies to pay and finance smarter. In addition, the Coupa App Marketplace offers specialized solutions to support growing companies, like the Relish Invoice app that automatically corrects invoice fields or the Routty app that supports compliance with the Peppol network. With Coupa, companies can scale more cost-effectively without having to rip and replace technology.
These benefits give AP teams and finance leaders better visibility and control of cash flow — empowering them to make more strategic decisions that multiply margins and future-proof the business.
“Coupa shines in its rich process benchmarking metrics and AI-generated suggestions that allow customers to clearly understand the gaps in their AP processes and react wisely.”
– The Forrester Wave™ : Accounts Payable Invoice Automation, Q3 2024
Turn AP into a strategic business unit
A streamlined and efficient AP unit is a cornerstone of financial health, providing the stability and strategic advantages essential in navigating the uncertainty of today’s economic conditions. Whether it’s leveraging AI for efficient invoice data extraction or keeping up with changing regulatory laws, Coupa’s AP Automation software helps companies optimize operations, lower risk, and multiply margins.
