Reddit Builds a Spend Database to Support Long-Term Growth
Low visibility into POs, invoices, and vendors prevented Reddit from preparing for an IPO. After using Coupa, all spending data is now in one place, helping to reduce risk and improve decision-making.
Company Overview
Reddit is home to more than 100,000 online communities where 50+ million daily users discuss topics of all kinds.
Headquarters
San Francisco, CA
Employees
1,000-5,000
Customer Website
Value as a Service
60%
Reduction in Close Time
$6M
Total Savings in 3 Quarters
Challenges
Pulling data from different systems made budget and forecast planning nearly impossible, and prevented mid- and long-term business decision-making.
Closing took 15 days from start to finish due to a manual accrual process.
Preparing for an IPO required the need for segregation of duties and more visibility and control of spend processes.
Solutions
Results
Gaining complete visibility into POs, invoices, and vendors at the line item level empowers the company to make more informed business decisions with accurate and timely data.
Closing now takes 6 days or less thanks to automation and the ability to see backlogs in the approval process.
Achieving SOX compliance and streamlining the auditing process ensures IPO readiness.
“The benefit of implementing Coupa is definitely having data at our fingertips in one place.”
