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Coupa Software Accelerates Momentum As Companies Intensify Efforts To Control Spending

Coupa Software Accelerates Momentum As Companies Intensify Efforts To Control Spending

SAN MATEO, Calif. – May 5, 2009 – Coupa Software, the developer of industry-leading, category-disrupting Web-based spend management solutions, reported breakthrough growth for the first quarter of 2009. Companies of all sizes, eager to improve spend management and budgeting practices, are contacting Coupa in record numbers.

Customer Base Jumps Coupa added 14 new customers during the quarter and increased the scope of services on more than ten additional existing customers. The company now boasts over 80 customers, organizations of all sizes that reflect a cross-section of American business, including new customers such as Flextronics, Salesforce.com, Taleo, Wilbur-Ellis, and The Catholic Archdiocese of St. Louis. User count at existing customers increased 30 percent during the quarter, demonstrating widespread adoption of the Coupa solution throughout customer organizations. Customer retention rates continue to top 90 percent. “Coupa is unique. There is nothing else in the market that fits big company purchasing power and capabilities into something that is completely affordable down to the smallest company,” said Rick Cahoon, Enterprise Support Manager for Wilbur-Ellis. “Coupa was the right choice for Wilbur-Ellis. We are very happy with our decision.” Spend Through and Other Metrics Rise As Well Spending through Coupa’s e-procurement platform increased 850 percent over Q1 2008, and is on pace to grow even faster through 2009. Coupa introduced several innovations in Q1, its sixth product release in twelve months, including:

  • Coupa Quickstart – Coupa Quickstart is a visual setup wizard that makes it possible to issue your first purchase order in as little as an hour;
  • Coupa Mobile Approver – Coupa’s new Mobile Approver is the only requisition tool available on the Apple iPhone;
  • Coupa Supplier Network – Coupa Supplier Network enables businesses of all sizes to do business with suppliers of all sizes.

About Coupa Software

Coupa Software enables businesses everywhere to recognize bottom-line financial success via Savings-as-a-Service. More than 500 ustomers doing business in over 100 countries use Coupa to support business agility and reduce costs. Only Coupa provides an organic suite of true cloud applications including accounts payable, procurement, expense management, sourcing and inventory, allowing customers to realize a return on investment that starts within a few months and grows continually. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.

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