Coupa Unveils New Product Innovations to Advance Business Spend Management
May 08 2018 - 10:45AM
Coupa Software (NASDAQ:COUP), a leader in business spend management
(BSM), today announced new product innovations to advance the
company’s BSM capabilities. Debuted at its annual Inspire
conference in San Francisco, the innovations include enhancements
to community intelligence, third-party systems, and user-centric
experiences that will provide businesses even more visibility into
spend, processes, and performance.
“Traditionally, finance and procurement teams faced numerous
challenges that have prevented effective visibility throughout
their organizations,” said Raja Hammoud, senior vice
president of products at Coupa. “Our BSM solution brings
everything together with a single, easy-to-use cloud platform, and
our new product enhancements take that holistic approach even
further, enabling spend-focused analysis by decision makers.“
Community IntelligenceThe new product release
focuses on business fraud, category spend, and employee
responsiveness to help customers make accelerated, data-driven
decisions using prescriptive community intelligence.
Spend Guard uses artificial intelligence (AI)
to analyze employee spend transactions to help detect potential
fraud. Spend Guard takes an important step in transforming fraud
auditing by analyzing employee behaviors across all spend
applications on the Coupa platform to help detect potential fraud.
This application is currently available in an early access
program.
Commodity Insights helps businesses optimize
category spend. Insights include identification of top suppliers
for critical commodities, spend benchmarks, and recommendations to
maximize spend value.
Approver Cycle Times empowers users to speed up
or slow down the approval process by comparing individual
performance to peer performance.
Open Platform for Third-Party SystemsThe new
release extends the value of BSM with third-party systems to
support end-to-end business processes that span different functions
across an enterprise.
Coupa Inventory is now voice activated. Users
can access Amazon Alexa® voice commands to locate items, adjust
inventory balances, and reorder stock. The voice capability is
currently available in an early access program.
Coupa Open Buy expands to include supplier
items and pricing content from additional suppliers such as
Imperial Supplies, Office Depot, and Staples. The additional
suppliers are currently available in an early access program.
Coupa Risk Aware monitors hundreds of data
sources to reduce supply chain risk. The application can
now integrate with customers’ own sources of
governance, risk, and compliance (GRC) data and enables customers
to calibrate the data sources to create their own supplier health
score.
User-centric ExperiencesCoupa continues to
deliver more user-centric experiences to increase productivity such
as:
- Automatic tax coding for supplier invoices
- Contract creation from Coupa Sourcing Optimization
- Improved handling of business requests that do not result in
purchases
“Coupa’s cloud platform coupled with its continuous innovation
is a strategic asset for businesses,” said
Mickey North Rizza, program vice president, enterprise
applications and digital commerce at IDC. “The company’s
rapid development of innovative digital tools for business spend
management has improved the user experience across business spend
and enhanced the value to focus on the supplier. This is why we
have recognized them as a global leader in our recent IDC
MarketScape reports.”
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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