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Coupa Named a Leader in IDC MarketScape on Worldwide SaaS and Cloud-Enabled Accounts Payable Applications 2019 Vendor Assessment
The company’s unified platform, invoicing automation, and reporting capabilities among the strengths recognized in new report
SAN MATEO, Calif. – January 29, 2019 – Coupa Software (NASDAQ: COUP), a leader in business spend management (BSM), today announced that it has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Applications 2019 Vendor Assessment, US44753119, January 2019.
Among the strengths contributing to Coupa’s position in the Leader category are:
- Strong technology platform with high satisfaction from end users
- Globally available invoicing with robust approval and compliance capabilities
- Exceptional reporting capabilities for any level of visibility
According to the report, IDC recommends considering Coupa if you are looking for an “AP automation platform capable of handling large and complex organizations” or “a solution with a large supplier network and powerful self-service tools including full configuration and global e-invoicing compliance without the need to develop custom code.”
“Finance leaders today are seeing the value that comprehensive solutions for managing accounts payable automation can bring to their organizations,” said Kevin Permenter, senior research analyst at IDC. “Coupa continues to deliver innovation and value in several areas of a company’s accounts payable process through consistent execution and a clear vision.”
“Being named a Leader and recognized for our comprehensive and unified BSM platform in the IDC MarketScape for AP is wonderful validation of our focus on driving innovation and value with our customers,” said Raja Hammoud, senior vice president of products at Coupa. “As a community, we are laser-focused on transforming employee and supplier experiences to digitize business and increase value for both sides of the business spend equation.”
The IDC MarketScape found that Coupa offers advanced, configurable control models that deliver e-invoicing compliance for 40 countries as well as Coupa InvoiceSmash, a feature that converts PDF invoices into structured data “much more accurately than OCR.” This automation can save time, reduce the chance of error, and minimize the burden on suppliers.
For Coupa customer Ionis Pharmaceuticals, automated AP led to significant increases in efficiency and productivity. “Coupa provided us an accelerated time-to-value. We are now able to process more than double the number of requisitions and nearly three times the number of invoices than we did prior to Coupa,” says Isaac Ballesteros, assistant director of Accounting at Ionis Pharmaceuticals.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About Coupa Software
Coupa Software is the leading provider of BSM solutions. We offer a comprehensive, cloud-based BSM platform that has connected hundreds of organizations with more than four million suppliers globally. Our platform provides greater visibility into and control over how companies spend money. Using our platform, businesses are able to achieve real, measurable value and savings that drive their profitability. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.