Coupa Software Releases New Sourcing Application, Augmenting Industry’s Most Innovative Cloud Spend Management Solution

Coupa 10 features host of new enhancements across Coupa’s Procurement, Expenses, and Invoicing applications

SAN MATEO, Calif. – July 31, 2013 – Coupa Software, the leading provider in cloud-based spend optimization solutions for finance, today announced the release of Coupa 10.  The new release features an entirely new sourcing application designed to bring sourcing to the masses,

and it further enhances the capabilities of Coupa’s suite of organic, cloud-based spend applications.  With this new sourcing offering and expansion of its portfolio, Coupa enables organizations to increase savings like never before.

“Coupa brought procurement to businesses around the globe with record user adoption.  Now with Coupa 10, we are embracing the same vision for sourcing,” said Raja Hammoud, Vice President of Product Management of Coupa Software.  “By intelligently guiding users to select the best sourcing opportunities to save money based on real-time analysis of their current spend, our new sourcing application is a game changer for smarter sourcing.  Coupa 10 also improves the efficiency of procurement and invoicing so that companies can better contain costs and shop smartly.  At Coupa, we are always looking for new and groundbreaking ways to help companies gain visibility and control over spending.”

“As one of the premier providers of quality health care, our company has had great success using Coupa to get our spend under control,” said Hyrum Kirton, Vice President of Procurement, Avalon Healthcare. “Coupa’s quarterly updates, including R10, allow us to stay up to date and benefit automatically from all the new features without disrupting our workflow. We’re especially excited about the easy-to-use sourcing application, which will allow us to add even more sourcing events while increasing savings.”

Coupa Sourcing is an entirely new application that optimizes the process of selecting the best suppliers to do business with in order to save money and is differentiated from other approaches through self-service event management, real-time enforcement, and continuous recommendations. It enables employees to track savings, set up sourcing events, and take action on completed events to realize immediate savings.

Coupa 10’s multifaceted enhancements span the company’s suite of products while furthering the core capabilities of each product offering.  Key features include: 

• Simplified expense reporting with corporate credit cards – Coupa Expenses advances its credit card integration capabilities by enhancing support for centrally paid corporate credit cards.  Administrators simply configure Coupa Expenses to set up direct corporate feeds from credit card providers, and employees find expense reporting a breeze by simply reviewing and annotating the expense reports that are pre-populated with their credit card transactions.

• Automated accounts payable reconciliation – Coupa Expenses turns a time-consuming process of manual reconciliation of centrally paid corporate credit cards against employee expenses into an automated process by providing accounts payable with exception-driven reconciliation reports that pinpoint discrepancies, such as mismatched credit card transactions.

• Increased procurement productivity with side-by-side comparison – Employees can rapidly make purchasing decisions as they look for the right product with Coupa’s side-by-side comparisons for catalog items.  Employees simply add relevant items for comparison throughout their shopping experience and view a detailed side-by-side comparison of all item attributes to quickly make the final purchasing decision.

• Compliance with item labeling – Procurement professionals can steer employees to preferred choices for compliance by ensuring they see in the top of their search results any related items with labels such as “green,” “preferred,” “generic,” etc. Item labels are customizable and visually appealing.  Related labeled items additionally get presented to employees at check-out time to drive compliance.

• Streamlined invoice review and approval  – Employees can increase their efficiency when reviewing large volume of invoices through a streamlined user experience, mass actions for review and approval, and split screens for viewing scanned invoices alongside invoice fields for quick comparison prior to taking final approval action.

• Enhanced mobility – Single sign-on (SSO) is available for Coupa Mobile on iPhone and Android devices, making approvals and creating expenses on the go one click away.  Coupa is proud to be among the first to provide true single sign-on support for a multi-tenant, native mobile app.

 Coupa 10 is available now.  To learn more about Coupa’s latest cloud suite of spend optimization applications, visit the website at http://www.coupa.com/.

About Coupa Software
Founded in 2006, Coupa Software is the leading provider of cloud-based spend optimization software. More than 350 customers in 40 countries use the Coupa suite of cloud applications to amplify their spend power and reduce spending costs up to 11 percent. Only Coupa provides a true suite of cloud applications for finance, including procurement, expense management and accounts payable that enables customers to launch the solution immediately and quickly realize significant savings. Learn more at: https://www.coupa.com or call 650.931.3200. Read more at our company blog, Making Cents, or follow @Coupa on Twitter.