Coupa Delivers New Innovations In Business Spend Management (BSM)
January 30 2018 - 7:30AM
Coupa Software (NASDAQ:COUP), a leader in business spend management
(BSM), today announced its first major cloud platform update of the
year. Coupa’s Release 20 (R20) helps customers spend smarter
by providing additional visibility and control of spending for
business services and with the expanded use of community
intelligence for supplier insights.
"Coupa’s significant investment in new R&D is certainly
paying off with new approaches to decades old spend management
problems,” said Jimmy LeFever, director, research and consulting at
PayStream Advisors. “Adding services spend coverage and giving
customers new and actionable data insights are key market
differentiators.”
As with past Coupa platform updates, R20 was designed through a
collaborative approach that involves extensive customer input.
“Airbus worked in close partnership with Coupa as part of the
Services Maestro product advisory board to design a unified
complex services solution from start to finish, which has
successfully met the criteria of the business users,” said
Werner Miehle, head of Airbus group commodities related
processes.
Key elements of R20 include:
Reduced Supply Chain Risk (Community
Intelligence)
Many businesses struggle to determine the best suppliers for
them due to a lack of reliable information at their disposal.
Internet searches yield limited information often containing a
significant amount of marketing prose published by the supplier. To
address the problem, Coupa expands its use of Community
Intelligence to help customers improve supplier results, reduce
supply chain risk, and make faster data-driven decisions.
For the first time, real-time transactional spend usage across
Coupa’s customer base of more than $570 billion in cumulative spend
under management will be leveraged to yield global supplier
insights. Accessible throughout platform applications such as Coupa
Sourcing and Procurement, the new supplier insights capability
delivers a new level of prescriptive intelligence for Coupa
customers.
Control and Visibility of Business Services Spend
(Services Maestro)
Services Maestro is a new platform application that helps
organizations manage the spend associated with complex services.
Customers benefit through automated contract compliance, improved
supplier experiences, and greater visibility into spend - both
goods and complex services - on one unified spend management
platform.
"Despite the high (and increasing!) levels of enterprise spend
on complex services, the extent of procurement solutions in this
area has been conspicuously limited. Coupa's Services Maestro
solution strategy suggests how the complex services category can be
attacked from the solid vantage point of eProcurement and unified
indirect spend management. Where that can go, it's too early to
say. But there's no question: it's a big, untamed jungle out there
and a green-field opportunity for solution providers like Coupa,"
said Andrew Karpie, lead analyst, Spend Matters.
Complex services, such as consultants and fixed-price
deliverables, is often a large category of spend in many
organizations. These organizations may negotiate service rate
cards, define deliverables, and come to agreement on terms and
conditions with their suppliers. However, once work starts, there
is often no easy way to track if a supplier is, for example,
meeting service level agreements (SLAs) or determine if the
timesheets and related invoices conform to negotiated rates.
Services Maestro was created to help eliminate these
challenges.
Coupa Accelerate
Coupa works very closely with customers to deliver more value
and solve real world business problems. For early payment
discounts, customers often wanted to offer discounts but had
limited success when implementing these discount programs. Often
the reasons cited for lack of success were lack of supplier
adoption and the effort to get suppliers to accept the program.
Coupa Accelerate is an innovative new platform application that
allows customers to quickly achieve a return on their payables by
accepting invoice discounts in return for paying suppliers earlier.
The application leverages the power of the community to drive
better results for each customer using the program. Suppliers do
business with many of their customers using the same Coupa
platform. These suppliers can set up their Coupa preferences (e.g.,
SMS alerts) that are applied to all their customers
With Coupa Accelerate, suppliers can update their early payment
discount preferences as well so discount preferences can be
automatically applied to any customer using Coupa Accelerate.
Suppliers are in full control and able to set preferences any time
needed.
Additional Platform Features
R20 also adds more than 50 new features across the platform and
cover areas such as e-invoicing compliance capabilities in Mexico,
expense management pre-trip approvals, contract request
pre-approvals, and the ability to screen suppliers against
government restricted lists. Coupa extends support for regulatory
compliance with the ability to manage anti-corruption regulations
by screening suppliers against restricted lists provided by
government entities such as the US Office of Foreign Assets Control
(OFAC). In addition, customers now have the ability to calibrate
supplier risk scoring to match their risk management
priorities.
“Starting the year with this extensive platform release, on the
heels of our sizable September 2017 update, clearly demonstrates
our clear focus on rapid innovation,” said Raja Hammoud, senior
vice president of products at Coupa. “We are thankful to all the
customers and partners that have shared their knowledge and time to
help prioritize new capabilities with an eye to delivered value.
It’s certainly a special relationship we have created, and we look
forward to many new innovations in the coming year.”
About Coupa SoftwareCoupa 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 Twitter.
Media inquiries:Orlando De BruceCoupa
Software Global Public
Relationsorlando.debruce@coupa.comO (650) 485-8629
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