Coupa BSM Platform Overview
Request this brief demo video (24:30) to learn how the Business Spend Management (BSM) platform provides a comprehensive view of your organization's spend.
Why watch this brief on-demand overview?
Learn how to:
- Conduct all of your business spend in one central place
- Gain 100% visibility and control of your spend
- Manage the entire source-to-pay process digitally and eliminate inefficient manual processes
- Attain immediate ROI by minimizing spend and optimizing processes
- And much more.
Find out how Coupa helps your organization conduct all of your business spend activities in one place.
By unifying all business spend processes in one place, Business Spend Management (BSM) platform gives you the visibility and control you need to make smarter decisions more quickly.
Request the on-demand demo to learn how Coupa’s cloud-based BSM platform is easy to use, provides the flexibility you need, and helps you attain compliance that is required.
There are six major ways that Business Spend Management, or BSM, delivers savings and value:
1. Reduced Cost of Goods and Services
These savings stem from a reduction in unnecessary purchases, the ease of identifying lower prices, the facilitation of early payment discount opportunities, and minimizing payment of duplicate invoices, all of which are savings that go directly to the bottom line right away and increasingly over time.
2. Increased Procurement Leverage
By automating many sourcing, supplier management, contract management, and catalog management activities, your teams have more time for more valuable activities and easier access to better data. As a result, your company will be able to find more savings opportunities, can take advantage of more and higher volume discounts, improve your relationships with supplier and get lower prices, and reduce costs by avoiding undesirable contract renewals.
3. Process Efficiencies
The savings from making your processes more efficient, even though they may be difficult to quantify exactly, still go directly to your bottom line. These process efficiencies also enable your company to put more resources towards revenue creation and other activities that generate cost savings. Some savings that result from removing process inefficiencies include reduced PO handling costs, lower invoice capture and handling costs, a reduction in audit costs, and a fewer needs for A/P and procurement administrative support.
4. Mitigated Risk
The costs of both known and unknown risks are potentially enormous. But the increased visibility into supplier data that you will attain from Coupa's Business Spend Management platform, you will have fewer problems and reduced liabilities from supplier non-performance or non-compliance.
5. Strategic Benefits
These benefits stem from better transparency into the procurement process and the increased visibility into spending and contract commitments. With more and better information and enhanced controls, business executives can make better decisions, resulting in improved financial control, increased organizational agility, increased employee productivity and morale, and much more.
6. Multiplication of Benefits
When business spend management processes are applied across a large, geographically dispersed organization where no consistency of process nor central view of organization-wide spend has previously existed, these savings and strategic benefits can have a multiplied effect. For example, companies with comprehensive BSM have reported an improved ability to effectively take a center-led approach to procurement, to leverage the buying power of the entire organization, and to leverage best practices globally and consistently.
But with Coupa's comprehensive and unified Business Spend Management platform, you can eliminate the traditional silos of spend and attain visibility into and control over spend across the entire organization.
Coupa's common, intuitive user interface gives users one place to easily handle all direct and indirect spend activities across procurement, invoices, expenses, and payments.
In addition, Coupa BSM facilitates processes within the following categories:
* Strategic Sourcing
* Supply Chain Design and Planning
* Contract Management
* Contingent Workforce Management
* Treasury Management
* Third-Party Risk Analysis
* Inventory Management
In addition, the collective data, wisdom, and spirit of the Coupa community of customers, suppliers, and partners enables collaboration opportunities. For example, group sourcing (Coupa Advantage) provides instant savings from pre-negotiated rates with top suppliers. Also, Coupa's unique, AI-powered capabilities (Community.ai) provide prescriptive recommendations for improvements to spend processes utilizing anonymized KPI data from all Coupa customers.
With comprehensive, unified capabilities and an unmatched community, Coupa's Business Spend Management platform empowers companies to spend smarter and maximize the value of each dollar spent.
A second benefit of Coupa's BSM platform is that it provides maximum security and scalability because it is built on leading cloud services. Coupa aims to keep your data safe, secure, and private, and backs up this commitment by continued investments in technology, people, and processes.
Third, Coupa's BSM platform provides flexibility and extensibility. Coupa's APIs, Process Builder, and Panel Apps are designed to accommodate all business process needs. Companies are able to create extended value by developing apps for business process areas that aren't already in Coupa’s native platform.
A fourth benefit is Coupa's ability to integrate simply and quickly with any ERP or financial system. Coupa has also partnered with middleware providers to reduce the initial configuration work.
Fifth, as the center of your BSM ecosystem, Coupa is able provide best-of-breed Business Spend Management applications, so it's always quick and easy to integrate Coupa with applications and data across your entire enterprise software stack.
Coupa's BSM platform, sixth, also provides insights derived from anonymized data across all customers and suppliers. Using AI and machine learning, Coupa generates valuable insights and prescriptions to its customers.
Another significant benefit of Coupa's Business Spend Management platform is that it is a true cloud-based platform. You thus have access the system anywhere and anytime, from any device, which allows you to benefit from performance benchmarks and the combined buying power of all Coupa customers.