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Coupa is a company of talkers, passionate about sharing tips, tricks and advice for improving finance and procurement and saving companies of all sizes time and money. But we’re not the only people with opinions and ideas. We’d love to hear from you so join the conversation!
- December 15, 2016
If you’re a regular reader of our blog, you know that 2016 was a milestone year for Coupa. We formed a new executive advisory board, many of whom have contributed their thoughts in this space; our CEO published a book, and we became a public company. All of that is reflected in our top articles of 2016. We took a look at our data to see which articles were the most clicked, shared and loved by you, our readers, and pulled out our top 10 to share with you again – just in case you missed one or two. Here they are:
Accounts Payable is one of the last places within companies where paper processing is still the rule rather than the exception. According to a report by Paystream Advisors, one of the biggest hurdles to automating is the belief that current processes are working. Surprisingly, nearly half of companies have never tested this belief by actually measuring costs and processing times. Paystream outlines eight key performance indicators that every A/P organization should be measuring in order to improve performance.
Coupa passed a significant milestone when the company began trading publicly on the NASDAQ in October. CEO Rob Bernshteyn thanks our customers, partners and colleagues, and shares his thoughts on what being a public company means for the Coupa community.
When implementing an e-procurement technology solution, companies often struggle with the question of whether to go live all at once globally, or in phases by region or business unit. Raymond Hernandez and Yatin Anand, two of our partners in KPMG’s Procurement practice, share wisdom gleaned over the course of many implementations to help you figure out the best approach for your company.
Wait, what? It seems like just yesterday that SaaS and PaaS and IaaS were the latest and greatest. But now people are talking about XaaS—anything and everything delivered as a service. CEO Rob Bernshteyn argues that we are rapidly reaching a point where no one will care how their software or platform or infrastructure is being delivered. They’ll only care about the value it brings to their company. Bernshteyn believes this is the final frontier of the “As a Service” model, and he has a name for it: VaaS—Value as a Service. He even wrote a book about it.
We’ve been hearing for at least a decade that A/P automation is going to take off, but so far the pace of technology adoption has been relatively slow. But now, a confluence of factors are coming together that should spur many companies to finally move forward, says Brent Meyers, VP Sales at Nvoicepay, a Coupa partner. One such factor: Just about every other business process has been automated, so for companies looking to improve, there’s really nowhere else left to go.
The way that businesses buy and use software is changing, and the role of the IT department is changing along with it. The rise of Software as a Service (SaaS) has empowered business users to find, choose and sometimes even implement software without IT involvement. However, if you’re implementing something big that’s going to touch a lot of people, you’re going to need the CIO on board. Coupa Executive Advisor and former CIO Kendra Von Esh shares the three things that every CIO will want to be assured of before signing off on your project.
New technology is helping purchasing and procurement professionals break new ground. But before they can use technology to its full potential, they must overcome a new challenge: Breaking through the mental models that have grown up around the function over the past 20-30 years. These models hold people back because they’re often not even aware they’re operating under them. In this two-part series, Executive Advisory Board member David Hearn of CPO Advisement Services lays out the four models, explains where they came from and how you can overcome them.
In a paper-based system, those business travelers who were so inclined had many opportunities to profit through various expense reimbursement fraud schemes. However, new advances in technology, combined with proper internal controls, can curtail the biggest remaining opportunities for fraud, writes Donna Wilczek, VP Strategy for Coupa.
For a long time, companies have structured their travel and expense programs to make them easy for administrators to use. However, data silos and low end-user adoption often make it difficult for them to get all the desired benefits of a managed program, says Ethan Laub, Director of Product Mangement for Coupa Expenses. New technology can now bring all the data sources together in a single tool. By shifting their focus to mass adoption by users, companies can get a more complete data set that can be analyzed to identify savings opportunities.
Integrating procurement and accounts payable is not a new idea, says Jack Miles, a long time procurement professional and member of the Coupa Executive Advisory Board. But, it’s an idea whose time has come. When procurement and accounts payable are under one roof, you get more buying on contract, streamlined processing, timely invoice payment and the ability to capture early payment discounts. Technology now supports integrating these two functions. But bringing the people together is big change, requiring an experienced and courageous leader.