Release 26 harnesses the collective wisdom of the Coupa community to provide advanced visibility and control over business spend in one comprehensive platform.
Coupa’s community continues to grow, now with over $1.5T of spend under management, the platform continues to find new innovative ways to help businesses improve.
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:
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.
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.
Coupa prides itself on having the most user-centric platform in the market. These innovations help customers maximize user & supplier adoption.
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.
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.
Coupa makes it even easier to stay compliant with global regulations and mitigate third-party risks.
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.
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.