Coupa Surpasses 3 Million Connected Suppliers
Growth driven by innovative Open Business Network™
SAN MATEO, CA – May 17, 2017 – Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, today announced that its customers have connected and done business with more than three million unique suppliers through Coupa’s Open Business Network™. Coupa continues to have one of the largest business networks in the world, which encompasses customers and suppliers doing business in more than 100 countries.
"The race to build the winning P2P and B2B mousetrap is increasingly as much about creating network effects as it is crafting the best user experience or best-in-class functionality,“ said Jason Busch, founder of Spend Matters and Azul Partners. “Coupa's rate of new supplier enablement is a leading indicator of comparative network growth."
Customers using Coupa’s Open Business Network™ can allow suppliers to choose the connection option that works best for their business. The network caters to the suppliers’ needs instead of requiring them to conform to their buyer’s forced requirements. This flexibility helps lead to higher levels of supplier adoption and lower buyer costs due to the elimination of paper processing.
"We have more than 15,000 suppliers and our vendor base appreciates the change to Coupa,” said Michael Benvenuto, chief procurement officer, Aon Plc. “It's a lot easier for them to find out where an invoice may stand."
The Coupa Open Business Network™ supports the interoperability critical in today’s digital economy. Just as one e-commerce website does not meet the needs of every consumer buyer, the same is true in business commerce. No one network covers all businesses in the world. Coupa’s model allows businesses to connect to any of their suppliers – from a small business providing landscaping services to the largest business suppliers in the world to open marketplaces (like Amazon Business).
“While others question how to make supplier enablement easier, we question how to eliminate the need for supplier enablement,” said Donna Wilczek, vice president strategy and product marketing at Coupa. “We’re celebrating this milestone because it validates our vision, our business model and most importantly, the value the network delivers to our customers."
Born in the cloud, Coupa delivers a modern spend management platform that accelerates business by unifying processes across all the ways employees spend money. These processes cover travel and expense management, procurement, invoicing, and related source-to-settle areas. Using the Coupa Open Business Network™, the platform has connected more than 3 million suppliers and delivers a powerful solution for businesses committed to controlling their spend.
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend. 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 Twitter.