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Coupa Unveils Innovations for Business Spend Management Community to Spend Smarter Together
New innovations across community intelligence, contingent workforce, and core platform continue to set the innovation agenda for the industry
LAS VEGAS – June 25, 2019 – At its annual Inspire '19 conference in Las Vegas, Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), announced new product innovations that leverage the power of the Coupa BSM community and more than $1.2 trillion in cumulative business spend transactions to empower businesses to spend smarter together.
“With more than 300 new capabilities delivered over the past 12 months, co-innovated with the BSM community, we’re setting the pace of innovation for the industry, said Raja Hammoud, senior vice president of products at Coupa. “Our most recent innovations continue to expand on our vision of delivering a comprehensive and open platform that is built for everyone, and empowers the BSM community with prescriptive insights powered by more than $1.2 trillion of aggregated business spend.”
Community Intelligence Drives Savings that Fuel Growth and Profitability
A recent survey from Deloitte found that 71 percent of surveyed companies are planning to cut costs over the next 24 months. With cost reduction an essential business priority, Coupa’s new Procurable Spend Spotlight elevates businesses from simple transactional processing of expense reports to smarter Business Spend Management that results in measurable savings that fuel growth and profitability. Procurable Spend Spotlight harnesses Community Intelligence-powered analysis to uncover savings opportunities by identifying expense report spend that should have been purchased through existing procurement contracts at a lower cost.
Prescriptive Recommendations Identify Coupa Advantage Savings
Coupa’s long-standing Coupa Advantage program harnesses the ever-increasing buying power of the Coupa community to negotiate significant price reductions that are then made available to all Coupa customers. Coupa now assesses customer spend in real-time and prescribes opportunities for community-based, pre-negotiated savings through Coupa Advantage.
Unified Goods and Services Spend Simplifies the User Experience
Within eight months of its acquisition of the technology assets of DCR Workforce, Coupa has unified contingent workforce management within its BSM platform. This further solidifies Coupa's vision of enabling businesses to manage all of their spend, including both goods and services, within a comprehensive BSM platform. Coupa now enables an industry-first guided services management approach that automatically directs employees to the correct services spend process for each project. This helps businesses move faster and appropriately classify their extended workforce for compliance with government regulations.
“As a long-time Coupa customer, we continue to be impressed by their speed of innovation and our ability to both influence product direction and get value by being part of this global BSM community," said Wade Lyons, vice president of procurement at Teleperformance. "This is further confirmation that we selected the right partner for all our Business Spend Management needs today and as our business continues to evolve year over year.”
New Embedded Applications Extend Coupa’s Open Platform Vision
Building on Coupa’s vision for an open user-centric platform, the new Coupa App Directory enables customers to embed third-party applications across the Coupa BSM Platform. These new capabilities create a streamlined yet comprehensive business spend management experience that includes best-in-class third-party data and processes, such as sustainability ratings, tax information, and travel processes. Launch partners include BitSight, EcoVadis, GetThere (a Sabre company), Taxback International, and Thomson Reuters ONESOURCE.
To learn more about these new innovations, visit the What’s New section of the Coupa website. To find out how Coupa can help your company achieve greater visibility and control of your business spend, visit the Coupa website.
About Coupa Software
Coupa Software is a leading provider of BSM solutions. We offer a comprehensive, cloud-based BSM platform that has connected hundreds of organizations with more than five million suppliers globally. Our platform provides greater visibility into and control over how companies spend money. Using our platform, businesses are able to achieve real, measurable value and savings that drive their profitability. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.