Spend Savvy From Coupa Tech Brings Savings to The Fresh Market
The Fresh Market's outdated spend system was not as charming as their old world style, but new visibility with Coupa's time-saving technology brought financials up to the cutting edge.
Company Overview
A boutique specialty grocery store designed to enhance the food shopping experience with a farmers' market atmosphere.
Headquarters
Greensboro, NC
Employees
10,000-25,000
Customer Website
Value as a Service
$1.8M
Saved with Coupa
$7+
Saved Per Purchase Order
67%
Reduction in PO Processing Time
Challenges
Lack of control around spend meant $3 million on a summary invoice with no matching.
Processing purchase orders was slow, costing time and money.
To allow employees to stay on the sales floor necessitated a simple, easy-to-use system.
Solutions
Results
Three-way matching between orders, invoices, and accounts received offers visibility and savings.
Invoice processing has saved 750 hours a year, equating to $363,000 per year.
The ease of implementation and quality of UX have added value.
"We have an ongoing dialogue around how we can make it better, which you don't see with typical e-procurement solutions."
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