Coupa Recognized as a Leader in the 2023 Hackett Value Matrix™ Purchase-to-Pay Software Solution Provider Perspective
Out of 10 companies evaluated, Coupa is recognized as a leader in The Hackett Group’s Purchase-to-Pay (P2P) Value Matrix for 2023. The Hackett Group® notes the following strengths of Coupa as a valuable P2P solution: comprehensive functionality, ease of global implementation, and extensive community-powered insights. These benefits and high customer satisfaction ratings earned Coupa the distinction of Digital World Class® status in The Hackett Group’s research.
Why procurement matters
Signs of a recession seem to be easing, but the challenges of today’s macroeconomic environment continue. Lingering inflation, supply chain uncertainty, and a tight labor market mean CEOs and chief finance officers (CFOs) are under immense pressure to reduce costs and drive profitability. That’s where strategic procurement is making a real difference. Best-in-class companies are achieving 6.6% in savings and optimizing operations by digitally transforming their procurement and payments processes — despite economic headwinds.
Coupa P2P software in action
Sanofi is a multinational pharmaceutical company that’s doing just that with Coupa P2P software, achieving 100% of PO-backed spend with 60,000 global users. Prior to making the move to Coupa, Sanofi struggled to enforce compliance and gain spending visibility with P2P spread across 22 systems. By consolidating to one comprehensive platform, Sanofi now easily manages and automatically ensures compliance for €10 billion in spend — giving its finance team more control while making the purchase process easier for users.
Here’s how Coupa transforms your P2P process
Coupa’s P2P software on its Business Spend Management (BSM) platform unites teams with powerful technology to deliver new levels of performance. Coupa sets itself apart from others in the industry by:
- Providing a comprehensive platform: Get more done in one place with a platform that connects sourcing to ordering and payment processes, ensuring value captured in one area isn’t lost in another. With processes connected, the approvals workflow is quicker and better controlled, too, along with a flexible requisition process that can be adjusted to fit any business need. Best-in-class companies are seeing 95% of spend pre-approved and a requisition-to-order time of just 3.6 business hours.
- Simplifying complex global operations: From day one, Coupa users have out-of-the-box regulatory and tax compliance for over 50 foreign government-mandated electronic invoicing networks and clearance models. No other software, add-ons, or IT setup is required. It’s how Sanofi maintains compliance for 70+ countries for its global operations. Implementation is easy, too, since Coupa is compatible with most ERPs. And thanks to an intuitive interface and Amazon-like buying experience, it's easy to drive high-user adoption, leading to more complaint purchases and better data capture. So easy, 95% of Sanfoi’s 60,000 global users are happy with Coupa’s platform.
- Using community intelligence to drive excellence: Through the power of Coupa’s Community.ai — which anonymizes nearly $5 trillion in real-time customer spend data — customers get instant access to pricing and category insights to drive profitability. Coupa also takes feedback from customers to improve its solutions, like the supplier portal for example. Both customers and suppliers wanted a better way to collaborate, so we created a self-service portal to streamline the onboarding process.
These benefits give procurement and finance leaders better visibility and control of company spending processes — empowering them to make more strategic decisions that improve the bottom line.
“Coupa continues to deliver and expand upon its broad range of capabilities, driving high levels of client satisfaction, an intuitive user experience, and improvements in spend management and visibility for its wide and diverse customer base.” — The Hackett Group
Turn procurement into a valuable business process
Procurement has long been considered a costly back office function. But with the right digital tools, procurement can actually give companies a competitive advantage in today’s market. Whether it’s securing a new supplier due to a material shortage or keeping up with changing regulatory laws, Coupa’s P2P software helps companies optimize operations, lower risk, and improve profitability.
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The Hackett Group does not endorse any participant, vendor, product or service depicted in its research. This research should not be considered as advice that a buyer select only those participants based on their ranking or position on the P2P Hackett Value Matrix™. The Hackett Group research publications consist of the opinions of its research organization and should not be interpreted as factual statements. The Hackett Group disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability, suitability, or fitness for a particular purpose.
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