LONDON, Nov. 6, 2019 /PRNewswire/ -- At its annual
Inspire'19 conference in London,
Coupa Software (NASDAQ: COUP), a leader in Business Spend
Management (BSM), announced new product innovations that extend the
capabilities of its cloud-based platform for businesses to manage
all their spend in one place. Amid global economic uncertainty,
Coupa's latest innovations empower businesses with the visibility,
control, and agility to spend smarter together.
"Now more than ever, businesses need a comprehensive platform to
effectively manage all of their business spend so they can respond
swiftly and smartly to any competitive or economic pressure,"
said Raja Hammoud, executive vice
president of products at Coupa. "The innovations that we
announced today - conceived with and by the BSM community - are
designed to help businesses learn, share, and collaborate, and get
the spend control they need to thrive at all times."
Harnessing 'Community' for Smarter Spending
Since its
beginning, Coupa uniquely recognized the power of 'community' to
help companies uncover new ways to strategically manage their
spend. Purpose-built, the Coupa BSM Platform brings together a
global community of businesses to collaborate with one another, and
to leverage prescriptive insights from more than $1.3 trillion in cumulative business spend.
- Source Together, Coupa's newest offering, delivers
community-powered savings by connecting businesses with similar
buying needs so they can source products and services as a
group. Source Together, offered through the Coupa BSM Platform,
brings companies together to leverage their collective buying power
and help deliver greater savings from suppliers for commodities or
services across geographies.
- The latest innovation from Coupa Supplier Insights draws
upon Coupa's aggregated and anonymous spend data from a global
community of businesses to automatically tag suppliers that meet
diversity requirements, such as those that are women-, minority-,
or veteran-owned within their Coupa experience. Supplier Insights
helps relieve sourcing teams of the arduous task of manually
identifying diverse suppliers to more quickly align to their
broader corporate social responsibility goals.
Enhancing the User Experience in a Comprehensive
Platform
The foundation of spending smarter is a
comprehensive, user-centric platform that makes it easier for
everyone in an organization to manage all aspects of business
spend, from source to settle. This means delivering a unified,
consumerlike experience across all areas of spend that enables
employees to rapidly adopt and obtain value from new capabilities
offered on the Coupa BSM Platform, such as advanced contract
lifecycle management and payments, without the feeling of learning
a new application.
- Within six months of Coupa's acquisition of contract lifecycle
management solution Exari, the company has rapidly unified the
technology - now called Coupa Contract Lifecycle Management
Advanced - with its BSM platform. With CLM Advanced, businesses
have a streamlined yet powerful way to manage the contract
lifecycle and operationalize contracts against spend transactions
at scale, to turn negotiations into real savings.
- Coupa Pay for Expense Payments is the newest solution
from the company's payments offering. With Coupa Pay for Expense
Payments, companies can reimburse employee expenses directly from
within the Coupa BSM Platform. Focused on simplifying the
fragmented payments space for businesses, Expense Payments creates
a one-stop shop for businesses to manage the end-to-end expense
process, reducing the complexity of managing multiple and manual
systems while making the interface simpler for employees. Expense
Payments is currently available in an early access program.
Extending its Open Platform Vision
With the breadth of
processes and systems involved, ranging from multiple ERPs to risk
data, and more, effectively managing spend requires an open
platform that can quickly and easily connect to and unify these
disparate systems into a streamlined spend management process.
Coupa's open platform makes it simpler, faster, and more agile to
connect to an ecosystem of market-leading technology partners to
give businesses a single, unified destination to comprehensively
manage spend.
- Following the launch of the Coupa App Directory in June, Coupa
now allows companies to access third-party applications and data
within the context of their BSM processes to empower businesses
to make more informed spend decisions. The company's newest
alliances include Amadeus, which provides businesses and its
travelers with an end-to-end travel booking experience via its
flagship online booking tool, cytric Travel. With cytric Travel
data embedded within the Coupa BSM Platform, travelers now have a
single place to view and manage all of their business travel – from
travel pre-approvals and bookings to expense reimbursements. In
addition, EcoVadis provides supplier sustainability ratings,
Mastercard Track provides supplier risk data, and BitSight provides
supplier cybersecurity ratings.
"We are pleased to partner with Coupa to provide companies a
simpler way to manage their corporate travel and expenses,"
said Vasken Tokatlian,
head of partnerships and alliances, corporations, travel channels
at Amadeus. "Our joint customers now have a streamlined,
consumerlike experience to manage travel and expenses all in one
platform, enabling them to maximize the value of every dollar
spent. Amadeus is committed to power smarter business travel for
corporations and travelers around the world and this partnership
with Coupa is a testament to our vision."
To learn more about these new capabilities, please visit
https://www.coupa.com/.
About Coupa Software
Coupa Software is a leading
provider of BSM solutions. We offer a comprehensive, cloud-based
BSM platform that has connected hundreds of organizations with more
than five 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
https://www.coupa.com/. Read more on the Coupa blog or follow
@Coupa on Twitter.
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SOURCE Coupa Software