Coupa Recognized as a Leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Mid-Market and Enterprise Treasury and Risk Management Applications 2023 Vendor Assessments
IDC MarketScape positions Coupa in the Leaders Category for its 2023 Worldwide SaaS and Cloud-Enabled Mid-Market and Enterprise Treasury and Risk Management Applications 2023 Vendor Assessments. The IDC MarketScape for mid-market treasury and risk management applications noted the following strengths for Coupa: a comprehensive source-to-settle solution, financial transparency, and extensive community-powered AI insights. An excerpt of the mid-market report is available here.
Why treasury matters
A surge of remote workers, bank failures, and swiftly changing economic outlooks are putting liquidity and cash management in the spotlight. Treasury leaders everywhere are trying to mitigate the rise of these risks and improve their company’s financial health, but traditional ways of treasury management aren’t keeping up with today’s turbulent economic environment. It’s more important now than ever for companies to gain full financial visibility, proactively monitor liquidity risks at scale in real time, and make quick financial changes at a moment's notice.
Coupa Treasury in action
Processing manufacturing company Velcro wanted to expand and centralize its treasury system to protect itself from the financial impacts of the pandemic. The problem? With subsidiaries around the globe — each with its own locally-managed bank account — achieving full visibility and control of cash would be a big undertaking. They turned to Coupa Treasury software for help.
Within seven months, Velcro’s Corporate Treasury achieved 100% global cash visibility, enabling them to set target balances for each location and redeploy cash to the appropriate entities. The automation of manual tasks and real-time visibility meant forecasting improved significantly, too. Those changes helped Velcro pay off debt at the height of the pandemic, a time when many companies were unable to even keep up with bills and payments.
Here’s how Coupa boosts your liquidity and unlocks hidden yield
Coupa’s treasury management 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:
- Reducing financial risk: Coupa’s platform unifies processes across supply chain, procurement, and finance to provide a comprehensive, integrated source-to-settle solution. By centralizing the payment process within spend transactions, companies can reduce risk and prevent fraudulent payments from happening.
- Improving financial visibility: Automatically see global cash positions by entity, bank, and currency, and identify trends with a rule-based categorization of transactions to effectively manage company cash. This enhanced transparency enables cash managers, treasurers, and finance leaders to make smarter, optimized liquidity decisions and improve forecasting.
- Providing community-powered AI insights: More than $4 trillion of anonymized purchasing data from our global BSM community provides actionable insights, spend metrics, and KPIs for every Coupa user. Companies are then empowered to improve operational efficiency, reduce risk, reach ESG goals, and more with best-in-class data at their fingertips.
These benefits give treasury leaders better visibility and control of company cash — enabling them to make better strategic decisions.
Going from reactive to proactive cash management
When a bank collapses, or a recession hits, treasury and finance leaders are the first lines of defense. They know going from a reactive to a proactive cash management strategy is required in today’s turbulent times — empowering them to make quicker and smarter decisions. To achieve it, automating manual processes, seeing real-time cash levels, and improving control over payment processes are needed.
Coupa’s Treasury Management software can do all that and more.
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