Coupa Wins 'Innovative Sourcing Technology of the Year'
Coupa hailed as “leading the pack in electronic sourcing innovation”
SAN MATEO, CA – January 18, 2018 – Coupa Software (NASDAQ:COUP), a leader in business spend management (BSM), today announced it has won the ‘2017 Innovative Sourcing Technology of the Year’ category at the annual PayStream Advisors Innovative Technology of the Year awards.
The PayStream awards identify the most innovative technology companies and recognizes them for delivering intuitive, progressive solutions for automating financial processes. Coupa Sourcing Optimization (CSO) took the top award in its category this year for providing sophisticated sourcing solutions that enable organizations to evaluate multiple criteria alongside price to help identify the ‘best’ solution.
More than 90 vendors entered the awards competition, and the rigorous judging process included product demonstrations, customer surveys and in-depth interviews.
“We always believed that we led the field in sourcing optimization, but recognition such as this validates the faith we and our clients have in our business,” said Garry Mansell, general manager of Coupa Sourcing Optimization. “We are proud of the innovative way we have led the industry, and we look forward to continuing that legacy in the coming years."
CSO is part of the Coupa cloud platform for business spend and is used to implement strategic sourcing best practices ranging from conducting simple reverse auctions to implementing complex large-scale projects with multiple rounds of negotiation. CSO gives users access to advanced mathematical optimization algorithms that help ensure sourcing decisions are based on the best available options, taking into account specified objectives and constraints
"Coupa is clearly leading the pack in electronic sourcing innovation, particularly when it comes to managing complex categories," said Jimmy Lefever, director of research and consulting at PayStream Advisors. "We were especially impressed with the way that Coupa Sourcing Optimization tool uses algorithms to maximize sourcing outcomes for organizations. It finds the best combination of suppliers, goods, and services to meet a company’s specific needs, which is vital in strategic sourcing."
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend management (BSM). 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 LinkedIn at https://www.linkedin.com/company/99595/