Coupa Software Unveils New Inventory Application and Release 11 with More than Sixty New Enhancements Focused on Driving Measurable Customer Success
Company Announces New Innovative Capabilities to Drive Unprecedented Visibility and Savings
SAN FRANCISCO – Coupa INSPIRE Conference – April 17, 2014 –Coupa Software, a leader in enterprise cloud applications for finance today announced a new additional application to its product suite: Coupa Inventory. The company also announced a new release of its SaaS solution, Coupa 11. With the expansion of its solutions portfolio, Coupa offers customers the most comprehensive suite of organic, cloud-based financial applications in the industry.
Coupa continues its expansion of its unified organic suite with the introduction of Coupa Inventory inventory management software. This application is critical for improving visibility for companies that utilize internal stockrooms and warehouses.
Key highlights of the new application include:
Elimination of redundant spending: Coupa Inventory eliminates redundant spending by enabling internal orders through the same easy-to-use shopping experience. With inventory and purchases available in a single place, users can easily find any item they need without having to check multiple systems. With the same interface, they can easily check availability, quantity, and place an internal order without extensive training, all while increasing spend compliance.
Streamlined stockroom management: Coupa Inventory is instrumental in inventory management optimization, as it eliminates the need for manual paper processes often found in inventory management. As internal orders come in, pick lists are automatically generated and items that cannot be fulfilled are placed in backorder. When an inventory item runs low, companies can trigger replenishment orders automatically from suppliers.
Improved financial compliance: With cycle counting approvals, customers can create automatic approval chains for specific quantities or dollar amount adjustments to inventory. This means inventory managers are always aware of their inventory stock. And with real-time reports, Coupa enables companies to perform comprehensive audits and minimize fraud as they have all historical transactional data right at their fingertips.
Coupa Inventory is available for early access to select customers, and will be generally available in mid-2014.
“Initially, we learned about the need within the healthcare and food & beverage industries. It is essential to proactively maintain inventory whether it’s doctors ordering medicine, or chefs ordering ingredients for their dinner menu,” said Raja Hammoud, Vice President of Product Management. “These same challenges exist in almost all businesses whether it’s for ordering office supplies, software licenses, or on-hand equipment from a local warehouse. We’re excited that our suite is able to help our customers achieve great success in streamlining this area of their business.”
“As the premier mountain resort company in the world, it’s important for us to have clear visibility into our inventory so that we can continue to deliver an excellent guest experience,” said Anita Weise, Vice President of Procurement, at Vail Resorts. “We look forward to leveraging Coupa Inventory to optimize this part of our business while leveraging the other applications in Coupa’s suite.”
Coupa Release 11
Coupa Release 11 is a comprehensive release that reinforces the company’s commitment to customer-driven product evolution, cutting-edge innovation and frequent functionality enhancements. Coupa 11 delivers more than 60 new enhancements spanning the entire suite. Key highlights include:
Platform-wide Enhancements For Multinational Enterprises- A series of new features expand support of complex process flows in multinational organizations requiring local filtering of suppliers, richer customization of user interfaces, processes for specific regions, and elegant support for project-based approval processes spanning 100's of 1000's of projects.
Travel Integration For Even Faster Expense Approvals - Coupa Expenses introduces travel integration with expense report creation to make it even easier for employees to fill out expense reports, while improving compliance for the finance team. Pre-built integration with Orbitz means that upon approval, the travel expense information is automatically populated in Coupa Expenses. Coupa provides an open API so companies can easily integrate this functionality with their travel provider of choice. Coupa Expenses now also supports dynamic rates, whether company maintained or government maintained to ensure meaningful policy limits by region.
Smarter Self-Service Sourcing Enhancements – Coupa Sourcing now allows employees even more self-service features including the ability to pause events, enable suppliers to do Excel import of responses, and be able to bid smartly with a Make Me Best Price option. Recommendations, where Coupa automatically recommends sourcing opportunities, now includes Non-PO invoices and large requisitions as an additional source of recommendations, making it even simpler for sourcing managers to identify impactful savings opportunities.
Procure To Pay Enhancements - A host of new features and enhancements has been added to streamline the P2P processes, all while driving employee adoption, increasing efficiency and ensuring compliance. Highlights Include:
- Richer, more descriptive web forms in search results
- Enhanced UNSPSC support and Catalog delta reports
- Supplier flexibility options for accepting PO Change Orders
- New invoicing features including: enhanced invoicing collaboration through record locking, new dispute and billing options, and invoice audit tracking for enforcing service level agreements on invoice processing
Coupa iPhone App Enhancements
Coupa Mobile version 2.0 is now available which is fully optimized for iOS7, offers improved performance and leverages the iOS look and feel. The enhancements include:
- Fully iOS7 compliant guidelines and styling
- New Coupa Expenses features like the ability to select a merchant using geolocation, the ability to create an expense line in Coupa from a PDF in an email, and new color coded policy indicators in-policy(green) or out-of-policy(red) on expense lines.
- End-user feedback built into app.
About Coupa Software
Founded in 2006, Coupa Software is a leader in enterprise cloud applications for finance. More than 400 customersheadquartered in 40 countries use the Coupa suite of financial applications. Only Coupa provides a suite of true cloud applications for finance, including procurement, expense management and accounts payable that allows customers to launch the solution immediately and quickly realize significant savings. Learn more at: coupa.comor call +1 (650) 931-3200. Read more at our company blog, Making Cents or follow @Coupa on Twitter.