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Coupa Unveils Suite of Product Innovations that Further Company’s Vision of Enabling Businesses to Spend Smarter
New capabilities feature advancements in supplier risk management and compliance, efficiency, and ease of use
SAN MATEO, CA – October 9, 2018 – Coupa Software (NASDAQ: COUP), a leader in business spend management (BSM), today announced its latest release of product innovations for the Coupa BSM Platform. Focused on supplier risk management and compliance, efficiency, and ease of use, the latest suite of updates empowers companies with even greater visibility and control to make smarter business decisions.
“Coupa continues to set the industry innovation bar by building BSM solutions that help our customers drive repeatable and measurable value, and this release is no exception,” said Raja Hammoud, senior vice president of products at Coupa. “Our latest updates leverage the power of Coupa Community Intelligence to enable our customers to manage business risk, while creating business spend management strategies that power growth.”
Reduce Supplier Risk and Make Compliance Easy
New capabilities place community-driven insights directly where the transactions occur, giving decision makers more information about supplier risk to help reduce supply chain disruptions that could harm revenue.
- Risk Aware within Coupa Sourcing Optimization (CSO) provides critical information on supplier health, including key financial, judicial, news sentiment, community, and third-party data, during complex sourcing events such as logistics and raw materials. These new capabilities allow customers to proactively retrieve risk scores and health indicators for bidding suppliers.
Free-Up Teams to Do Higher Impact Work Companies can reduce the burden on teams and managers with innovative capabilities that create greater efficiencies and touchless processes, freeing up their time for more strategic problem solving.
- Community Intelligence on e-invoicing channels helps administrators and project managers leverage community information to identify which electronic invoicing channels their suppliers use, thereby enabling digital transactions that are faster, more accurate, and lower cost.
- Auto-approval for preapproved expenses allows managers to pre-approve expense reports for their teams and not have to review the itemized report later. If the expense report meets the pre-approved spend tolerances, it will automatically be pushed through for payment, enabling managers to “set it and forget it”, saving valuable time for busy managers by eliminating unnecessary redundant approvals.
- Based on Coupa’s guiding principle that the best user interface (UI) is no UI, a deeper Slack integration enables customers to approve or reject directly from Slack, thus making it even faster and easier for employees to effectively manage their business spend from anywhere. With improved Slack Coupabot notifications, approvals are available for requisitions, purchase orders, invoices, and expenses.
Break Down Silos with Project Management Across BSM
Coupa has built in new project management capabilities that empower employees with the visibility and control to manage BSM events such as a new contract or a sourcing event in one place. New capabilities enable users to create projects, assign tasks, tag related documents, and more, thus streamlining processes, eliminating redundancies, and enhancing planning so that businesses can spend smarter.
- Projects and Tasks gives users the ability to associate projects and events with contracts and sourcing events and easily manage tasks with owners, deadlines, and links to collaborate effectively across teams. Multiple related sourcing events and contracts can be linked to the same project for tracking and project management across initiatives.
- Planned Savings Within Sourcing allows users to set savings goals for each sourcing event to provide visibility and alignment across all teams involved.
“Customers seek solution providers that are able to quickly deliver on ever-changing market requirements. Coupa is a leading provider in business spend management in part because of how they combine a rapid rate of innovation with a clear understanding of market needs,” said Jimmy LeFever, senior research director, Procurement Advisory at The Hackett Group. “Their recent development extends their platform suitability to an even broader set of companies, and they have done so in typical Coupa lightning speed fashion.”
Learn more about how Coupa can help your company achieve greater visibility into business spend at Inspire’18, coming this November to London. For more information or to register, click here.
About Coupa Software
Coupa Software (NASDAQ:COUP) is the leading provider of BSM solutions. We offer a comprehensive, cloud-based BSM platform that has connected hundreds of organizations with more than four 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 tiwtter.