Leverage Best Practices with Power Prescriptions

Coupa has further expanded the depth of our community-powered insights with new Power Prescriptions that pool insights from the community to suggest best practices to take business spend management to the next level.

For example, new Power Prescriptions include:

• Supplier Communication Improvement - Simple changes in the way a customer communicates with suppliers can increase the supplier response rate by 85%. Coupa now surfaces these best practices to help customers get the most from the platform. Communications include supplier notifications, receiving POs via email, and form reminders.
• Identify Savings Opportunities - With this feature, Coupa will identify inefficiencies within a customer’s process and automatically give them the tools to quickly improve off-contract spend.

Identify Potential Savings with Accelerated Payments Calculator

Businesses can capture significant savings through early payment discounts with Coupa Pay. Coupa now helps customers measure the potential impact of pre-paying suppliers who offer accelerated payment discounts. This highlights potential savings based on Community Intelligence on typical savings captured by the community.

Turn Insights into Actions with KPI Buckets

New Actionable KPI Buckets help customers break down larger benchmarks into more granular and actionable KPIs to target ways to improve. Powered by Community Intelligence, these insights help customers understand what drives operational KPIs and diagnose weaknesses so they can prioritize the next steps and transform their business.

Personalize Procurement Results with Smart Orders

Coupa further enhanced the guided buying experience with consumer-like smart orders to make it easier than ever for users to procure what they need to run the business. Smart Orders highlight past purchases as well as popular items from your company. This helps you repeat items that worked well and increase spend on contract.

Recommend Items Frequently Purchased Together

Have you ever purchased the wrong laptop cord that doesn’t work with your model of laptop? Accidently ordering the wrong item happens all the time. Coupa helps customers minimize mistakes and quickly identify items that are frequently purchased together.

Comply with Global Invoicing Regulations

Global invoicing regulations are constantly changing and can be a source of pain for many finance teams. The new expanded global invoicing templates help Coupa customers maintain compliance with 42 invoicing templates across both electronic and non-electronic invoicing channels. This helps customers identify suppliers or invoices that are missing required compliance information to protect the business from audits.

Protect the Business Against Fraud

Spend Guard further leverages the power of the community to identify suspicious behavior and prioritize risk to help protect the business. New suite-wide detection capabilities identify Suspicious Sourcing and Payment spend. Advanced monitoring capabilities look for signs of collusion, such as there being too few suppliers invited to bid, short timelines set, or a high-risk supplier awarded. Additionally, it flags new suspicious payment activities to detect payment irregularities such as out-of-sequence invoice numbers, purchase orders issued after an invoice, or payment currency deviations. These advancements help protect against potential fraud and spend leakage.