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

Website

https://www.reddit.com/

Value as a service

60%

Reduction in Close Time

$6M

Total Savings in 3 Quarters

Challenge

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.

Solution

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.