Coupa Releases 2018 Business Spend Management (BSM) Benchmark Report
A quantitative analysis of global spend data shows businesses are improving process efficiency, digitization and compliance alongside realizing significant savings
SAN MATEO, Calif. – February 21, 2018 – Coupa Software (NASDAQ:COUP), a leader in cloud-based business spend management (BSM), announced today the publication of its 2018 benchmark report titled: ‘12 Ways To Measure Business Spend Management Success’.
The report identifies 12 of the most important key performance indicators (KPIs) in business spend management and shows that, in addition to improving process efficiency and compliance, leading organizations can realize savings of up to nine percent of their spend under management by digitizing their processes. With spend under management often measuring in the millions or even billions of dollars, percentage savings of this magnitude are significant and show directly on a company’s bottom line.
In compiling the report, Coupa aggregated and analyzed anonymous data compiled by its Community Intelligence from customers that represent the top quartile of performers per KPI in 2017. The KPIs include indicators such as ‘Requisition-to-Order Time’, ‘First-Time Match Rate’, ‘Pre-Approved Spend’ and ‘Realized Savings’ and have been assigned across four categories – Process Efficiency, Digitization, Compliance and Savings. Since the benchmark analysis uses actual transactional spend data, the results reflect reality and have not been influenced by subjective opinions that can occur in survey-based benchmark reports.
“It’s incredibly valuable to be able to compare your own business spend management performance to leaders in the field,” said Amit Duvedi, vice president – business strategy at Coupa. “The report shows the levels that are already being achieved so it is clear what is possible and what organizations should be striving for.”
Alongside identifying levels of savings that are achievable, the benchmark report also shows how digitizing spend management has additional benefits such as improving process efficiency and reducing fraud through digitizing purchase order processing and expense reporting.
“When organizations decide to embark on a business spend management initiative, one of the first things they need to do is define what success looks like, and how it should be measured,” said Duvedi. “Benchmarks are a great resource for that, and the benchmarks presented in this report can help organizations set very specific targets.”
The report is a valuable resource for all organizations wanting to compare their own business spend management performance against leaders in the field and the full report can be downloaded here.
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend management (BSM). We deliver “Value as a Service” by helping our customers maximize their spend under management, achieve significant cost savings and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations representing the Americas, EMEA, and APAC with millions of suppliers globally. The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management. Learn more at www.coupa.com. Read more on the Coupa Blog or follow Coupa on LinkedIn at https://www.linkedin.com/company/99595/