SAN MATEO, Calif., Feb. 15, 2022 /PRNewswire/ -- Coupa Software
(NASDAQ: COUP), a leader in Business Spend Management (BSM), today
launched Coupa Travel and Expense, a fully unified solution that
transforms traveler experience and delivers real-time travel spend
optimization.
For too long, legacy T&E products have missed the mark on
both enjoyable travel experiences and the optimization of travel
spend dollars. Siloed tools and poor user engagement make it
challenging for organizations to get visibility and control in
today's dynamic travel environment.
The new T&E solution is the latest in Coupa's continuous
wave of first-to-market innovations in Business Spend Management.
This new solution is distinct from anything else in the industry
today because of three key components:
- User-Centric Experience: User-friendly design
accelerates adoption while reducing program management headaches
and eliminating the need for travelers to book off-channel.
- Unified T&E Management: Comprehensive T&E
management leverages a single, seamless solution that
eliminates silos and optimizes every dollar spent by integrating
across the BSM platform.
- Community-Driven Insights: AI-powered insights from
Coupa's $3T+ of anonymized global community spend data provide
intelligent travel prescriptions, savings opportunities, and
business benchmarks.
"We've built Coupa Travel and Expense with our customers from
the ground up with empathy and understanding of the traveler and
the back office," said Raja Hammoud,
executive vice president of products at Coupa. "By understanding
the end-to-end corporate travel journey, we're eliminating the pain
for companies' reliance on a patchwork of siloed legacy tools. When
we add the power of insights driven by our global community, we
deliver a radically different solution that transforms corporate
travel to be simpler, smarter, and more sustainable."
This holistic approach to travel and expense is a key
differentiator for Coupa.
"With Coupa's new T&E solution, the company is showing they
understand the needs of the market," said Kevin Permenter, research director, Financial
Applications, at IDC. "By applying AI across their $3T in business
spend, Coupa is well-positioned to identify new ways for
organizations to simultaneously maximize travel spend, decrease
carbon impact, and reduce risk. And, with their focus on
user-centric design, we expect business travelers and finance teams
will cheer this new, smarter alternative for T&E."
This viewpoint is backed up by the 2022 trends in corporate
travel. While 75% of travel managers anticipate greater travel this
year compared to 2021, CFOs want to maintain the cost savings they
experienced when corporate travel was significantly reduced because
of COVID-19. A recent report from Deloitte predicts that CFOs will
scrutinize closely their travel spend and ROI – and Coupa's
AI-based Business Spend Management platform is key to that
effort.
New travel management capabilities in the Coupa solution
include:
- Smart Itineraries: Personalized, intelligent trip
itineraries customized to balance traveler preferences with company
policy and priorities.
- Travel Saver: Real-time price tracking for all airline
and hotel bookings to capture significant savings when prices
drop.
- Spend Coach: Encouragement of smart spending by
providing employees who expense non-travel related
items with insight into how much money they would save by booking
off of company contracts.
- Dynamic Messages: Timely health and safety messages to
travelers based on their itinerary.
- Built-in Savings: Integrated savings for thousands of
airlines, hotels, rideshare providers, and rental car brands via
Coupa Advantage.
- 24/7/365 Traveler Support: Around-the-clock live agent
assistance for travelers to support their global travels.
Learn more about Coupa Travel and Expense –
www.coupa.com/products/travel-expense-management.
About Coupa Software
Coupa is the cloud-based Business Spend Management (BSM) platform
that unifies processes across supply chain, procurement, and
finance functions. Coupa empowers organizations around the world to
maximize value and operationalize purpose through their business
spend. Visit coupa.com and follow us on LinkedIn or Twitter.
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SOURCE Coupa Software