Release 27 empowers customers with the agility to turn business spend into a competitive advantage and respond proactively in an unpredictable market. History has shown us that, resilient organizations recover quickly from difficult times by following a repeatable framework during an economic downturn. You can find this framework and a toolbox of resources to help Finance and Procurement leaders on our Resiliency Hub.
The first priority for building a resilient company is to understand where and how money is being spent today. To do this, companies must invest in a single, unified system that manages all spend transactions across the company.
To increase visibility into spend, the Unified Spend Dashboard provides customers a single view of goods and services spend across an organization. This provides a truly seamless experience for managers across work orders and contingent labor. Coupa uniquely provides end-to-end visibility with a comprehensive platform for both goods purchasing and advanced contingent workforce management.
Customers can now put cost controls on all transactions that will automatically block purchase orders and requisitions that exceed the negotiated contract value. This gives sourcing managers an opportunity to renegotiate with suppliers for the best terms.
In times of uncertainty, supplier health can quickly change and businesses must monitor supplier health to minimize possible supply chain disruptions. In Release 27, Coupa added several new features to augment risk monitoring and mitigation.
Coupa now offers a Supplier Performance Scorecard to better identify risky suppliers. This combines employees’ ratings and reviews of goods and services with third-party risk assessment results to provide a more comprehensive risk analysis of supplier health. It also allows sourcing and procurement managers to monitor ongoing supplier performance metrics, see performance trends, and use this information when renegotiating.
Streamline supply chain communication and avoid project delays with real-time shipment tracking. Now end users can be notified of shipment status, expected delivery date, and detailed shipment history.
Release 27 leverages the community insights and shared learnings, to offer new opportunities for customers to collaborate, support each other, and help their company thrive during these quickly changing times.
Harness the Coupa community with the Community Exchange that helps businesses share best practices and collaborate with each other to spend smarter together. A first-of-its-kind offering, Community Exchange allows customers to crowdsource and collaborate with other companies by sharing important files such as sourcing questionnaires to gather best practices and discover ways to improve spend management.
Category Dashboards now provide category managers with a unified view of key insights and recommendations across transactions, sourcing, supplier management and CLM. With additional Community Intelligence that helps administrators to identify where there are opportunities to improve, companies can now more effectively manage category projects in one place and negotiate the best rates.
To deliver savings on day one, Coupa Advantage now offers Advantage Express, which surfaces preloaded, pre-negotiated contracts with top suppliers right in the Coupa dashboard.
New priority ranked power prescriptions allow you to quickly identify where to focus your time in order to drive the most impact to the business.
Thanks to the suite synergy of a holistic business spend management platform, Coupa is making it easier to incorporate risk management throughout the sourcing process. During a sourcing event, customers can require that suppliers fill out risk questionnaires and attach documents such as certifications. Based on the answers provided or the terms of the sourcing event, risk managers have the option to pre-populate a risk assess profile and kick off a sourcing event. These new capabilities make it even easier to use supplier risk profiles during the decision making process.