SAN MATEO, Calif., Dec. 10, 2018 /PRNewswire/ -- Coupa Software
(NASDAQ: COUP), a leader in business spend management (BSM),
announced today that it acquired Hiperos, a leading third-party
risk management provider and division of Opus. The acquisition
enables businesses with the advanced technology they need to
extensively evaluate the risk of their full supplier base to
further protect their brand and bottom line.
"Third-party risk and compliance is a growing threat as global
supply chains expand, regulatory requirements grow, and cyber
crimes increase, and until now, businesses have relied on point
solutions to manage these risks," said Rob Bernshteyn, chief executive officer at
Coupa. "As an integral part of the Coupa BSM Platform,
Hiperos's advanced third-party risk management offering enables
enterprises to extensively evaluate the risk of their supplier base
and shift spend to optimal suppliers. I am excited to welcome the
Hiperos team to Coupa and look forward to furthering our mission to
empower businesses to spend smarter."
Based in Branchburg, New
Jersey, Hiperos's cloud application enables businesses to
actively manage third-party risk and compliance, including advanced
risks such as information security, bribery and corruption, and
demanding new data privacy regulations like the General Data
Protection Regulation (GDPR). As part of the Coupa BSM Platform and
marketed as Coupa Risk Assess, Hiperos enables companies to:
- Assess supplier relationships from the beginning (prior to
contract) as well as the breadth and depth of work each supplier
does with the company
- Identify risk throughout the supply chain by gathering
comprehensive information on suppliers' suppliers
- Manage risk and compliance with multiple risk domains (e.g.
InfoSec, FCPA, GDPR, etc.) and comply with new risk domains as they
emerge
- Proactively communicate risk information to decision makers so
that spend and risk management decisions can be made effectively,
while managing action plans to de-risk the entire supplier
relationship
"Third-party data breaches are rising, new regulations are
complex, and businesses are working with more third parties than
ever," said Emanuele Conti, chief
executive officer at Opus. "We founded our business with the
primary goal of providing companies with a comprehensive and
market-leading solution to proactively manage third-party
risks. We could not be happier to be joining Coupa and make
third-party risk management a core piece of companies' overall
business spend management strategy."
"Due to an increasing number of high profile breaches and the
increasing risk of extended services and physical supply chains,
third-party risk mitigation and compliance has become a top
priority for large organizations across industries. Using a
holistic approach to managing suppliers and spend can shine a
proactive light on vulnerabilities, while reducing risk and
protecting brand reputation," said Jason Busch, managing director at Spend
Matters. "Coupa's acquisition of Hiperos hits on a
critical need in the market – the merging of third-party risk
management with broader business spend management
processes. Coupa has an established process for marrying
acquired companies with their platform and we expect to see
the same operational model deployed for Hiperos's industry-leading
integrated risk management capabilities."
Hiperos has been widely recognized as a leading third-party
management provider, including being named a 2018 Provider to Watch
by Spend Matters, a Top 20 Most Promising Enterprise Risk
Management Solution Provider by CIO Review, and winner of the GRC
20/20 Award for Innovation in User Experience for Third-Party
Management.
To read more about the news, click here.
To learn more about the Coupa BSM Platform, which empowers the
world's most successful organizations with the visibility and
control they need to manage all their spend in one place, visit
https://www.coupa.com/.
About Coupa
Coupa Software is the leading provider of
BSM solutions. We offer a comprehensive, cloud-based BSM platform
that has connected hundreds of organizations with more than four
million suppliers globally. Our platform provides greater
visibility into and control over how companies spend money. Using
our platform, businesses are able to achieve real, measurable value
and savings that drive their profitability. Learn more
at www.coupa.com. Read more on the Coupa Blog or
follow @Coupa on Twitter.
About Opus
Opus is a global risk and compliance
SaaS and data solution provider, founded on a simple premise: that
faster, better decisions in compliance and risk management give
businesses an extraordinary advantage in the marketplace.
Today, the world's most respected global corporations rely on
Opus to free their business from the complexity and uncertainty of
managing customer, supplier and third-party risks. By combining the
most innovative SaaS platforms with unparalleled data solutions,
Opus turns information into action so businesses thrive.
For more information about Opus, please visit www.opus.com.
Forward-Looking Statements
This release includes
forward-looking statements. All statements other than statements of
historical facts, including the proposed benefits of the
acquisition and statements regarding the capabilities of Coupa and
Hiperos following the acquisition, are forward-looking statements.
These forward-looking statements are based on Coupa's current
expectations and projections about future events and trends that
Coupa believes may affect its financial condition, results of
operations, strategy, short- and long-term business operations and
objectives, and financial needs.
These forward-looking statements are subject to a number of
risks, uncertainties and assumptions that may cause actual results
to differ materially, including difficulties with the integration
process or the realization of the benefits of the acquisition.
These and other risks and uncertainties that could affect Coupa's
future results are included under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations," in Coupa's most recently filed Form 10-K or
10-Q filed with the SEC, which is available at investors.coupa.com
and on the SEC's website at www.sec.gov. Further information on
potential risks that could affect actual results will be included
in other filings Coupa makes with the SEC from time to time.
The forward-looking statements in this release reflect Coupa's
expectations as of the date hereof. Coupa undertakes no obligation
to update publicly any forward-looking statements for any reason
after the date of this release to conform these statements to
actual results or to changes in our expectations.
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SOURCE Coupa Software