Coupa Named a Leader in Gartner Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement
San Mateo, CA – April 1, 2015 – Coupa Software, the leading provider of cloud-based spend management solutions, announced today that it has been positioned by Gartner, Inc. in the Leaders quadrant of the Gartner Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement.1 The Gartner Magic Quadrant is considered one of the industry's most thorough evaluations of enterprise purchasing services solutions.
The report evaluated full-suite procure-to-pay solutions from 20 different software vendors on 14 criteria, placing Coupa in the Leaders quadrant based on its “ability to execute” and “completeness of vision.”
According to the report, “P2P suite Leaders demonstrate a market-defining vision of how technology and services can help procurement establish, develop and maintain contract compliance and cost-effective processes for managing and controlling external spend. They have the ability to execute against their vision with products and services, and they have demonstrated results in the form of growth and customer satisfaction.”
"We believe being named a Leader by Gartner is clear recognition of our Savings-as-a-Service model delivering billions of dollars of savings to customers everywhere,” said Rob Bernshteyn, CEO of Coupa. "Our disruptive Coupa Open Business Network proves it is possible for businesses of all sizes to connect to one another easily for mutual benefit. Our ever-growing global customer base is further validation that bringing businesses together seamlessly across the corporate purchasing, invoicing, travel and expense spectrum yields the highest levels of hard dollar savings; the ultimate sign of customer success and the one we are most proud."
Organizations require the visibility, compliance and predictive insights the right corporate purchasing solution provides staff for identifying areas for savings while also realizing contracted savings before the money is spent and the opportunity lost. In addition, with ever changing business-to-business needs, companies need solutions that adjust with them to continuously decrease costs and increase efficiencies within the supply chain.
Coupa customer Cofely GDF SUEZ, is a global player in energy, technical and facilities management services for companies and communities, developing innovative solutions that improve the efficiency of cities, buildings, industry and infrastructure. The company’s UK business selected Coupa in 2014 and has already achieved considerable savings through the cloud platform. “At Cofely we’re 100 percent focused on delivering a great service to our customers,” said Amber Ritson, Chief Procurement Officer. “Working with industry leaders like Coupa is transforming our business and helping us to drive measurable value for our company, and ultimately allows us to focus on our own customers’ satisfaction.”
In February, Coupa announced a number of key performance metrics that marked 2014 as a milestone year, including exceptional revenue growth, customer acquisition and retention rate, global scaling, and an expanding portfolio of solutions and partners reflect rising demand and deepening market penetration.
Coupa is meeting ever-growing demand by continually incorporating customer feedback and industry leading innovations into its unified cloud-based spend management suite. This includes updates across the corporate purchasing, sourcing, invoicing, open business network, travel and expense management, and inventory suite.