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Coupa Named a Leader in e-Procurement by Independent Research Firm
Coupa Received Highest Score for Both Current Offering and Strategy
SAN MATEO, Calif. – May 23, 2014 – Coupa Software, the leading provider of cloud applications for finance, today announced that the company was recognized as a leader in the “The Forrester Wave™: eProcurement Q2 2014” report issued by Forrester Research Inc.
Coupa was among the select companies Forrester invited to participate in the independent report, which evaluated 11 of the largest Procure-to-Pay platforms by their ability to deliver visibility and control through high user adoption.
“Coupa is the most customer-centric organization with the most flexible product,” writes Forrester Vice President, Principal Analyst Duncan Jones in the report. The report also states: “[Coupa] has one of the best user interfaces combined with broad functionality and flexible configuration.”
The report also says, “More and more chief procurement officers (CPOs) are seeking global solutions for their procure-to-pay (P2P) processes so they can cut costs while saving employees’ time... CPOs should … favor products with enticing shopping experiences and simple configurable approval workflows.”
In addition to a “Leader” designation, Coupa achieved Forrester’s top score in both the Current Offering and Strategy categories. As part of these categories, Coupa received the top ranking for Requisition-to-purchase process and Technology.
The Forrester Wave™ is the firm’s evaluation of vendors in a software, hardware, or services market, written for the role of professionals that the analyst firm serves. In their Forrester Wave™ reports and spreadsheets, they reveal the criteria that they use to grade vendor offerings, and how they weight and score those criteria. The eProcurement report details their findings about how well each vendor fulfills Forrester’s 69 criteria and where they stand in relation to each other to help sourcing and vendor management professionals select the right partner for their procure-to-pay (P2P) projects.
To assess the state of the eProcurement market and see what solutions would best help companies maximize adoption, Forrester focused on capabilities that would reduce users’ resistance to new initiatives, including usability, flexibility, and automation. Other criteria for evaluation included vendors’ current offering, strategy, and market presence.
“At Coupa, we have a relentless focus on our customers’ success,” said Rob Bernshteyn, CEO of Coupa. “We’re proud to be recognized as a leader by Forrester. We believe this ranking independently confirms that everyone benefits when you listen to your customers, deliver unparalleled usability and configurability and continually partner to drive real, measurable results. Our remarkable rate of growth confirms that organizations worldwide recognize these as unique Coupa differentiators.”
To access the Forrester Wave report, visit the Coupa website.
About Coupa Software
Founded in 2006, Coupa Software is the leading provider of cloud applications for finance. More than 400 customersheadquartered in over 40 countries use the Coupa suite of financial applications to support business agility and reduce costs. Only Coupa provides a suite of true cloud applications for finance, including sourcing, procurement, expense management and accounts payable that allows customers to realize a return on their investment within a few months and savings that continually impact the bottom line. Learn more at: coupa.com or call +1 (650) 931-3200. Read more at our company blog, Making Cents or follow @Coupa on Twitter.