Coupa announces new capabilities for business
resilience and agility at Inspire 2022 – the annual Business Spend
Management community conference
LAS
VEGAS, April 5, 2022 /PRNewswire/ -- Coupa
Software (NASDAQ: COUP), a leader in Business Spend Management
(BSM), today launched an array of new innovations to enable
companies to respond to macroeconomic challenges more quickly and
effectively.
"Every CEO and CFO needs to become a chief transformation
officer to navigate the disruptive and dynamic pressures we see
every day. And they need to start with a unified, intelligent
strategy around business spend," said Rob
Bernshteyn, chairman and CEO of Coupa, during the company's
annual customer and partner community event, Inspire.
"Many businesses have grown up and steeped themselves in legacy
technology, process, and culture; but it's a different world now.
Winners are bringing the back office to the forefront of their
digital transformation strategy. They're using BSM to break old
bonds and reach entirely new levels of success, becoming more
profitable and purposeful through their business spend," Bernshteyn
added.
"Coupa's commitment to innovation is evidenced in how we
continue to execute on our strategy of capturing every dollar a
business spends, optimizing it with suite synergies, and amplifying
community value with our industry game-changer of Community.ai,"
added Raja Hammoud, executive vice
president of products at Coupa. "We're excited to launch new BSM
capabilities that help our global community balance profitability
and sustainability."
The Coupa BSM platform, recently topping $3.3 trillion in cumulative spend under
management across more than eight million suppliers and 2,500
global customers, is launching new solutions to help them spend
smarter. Highlights from its latest release enable key benefits,
including:
Drive ESG Impact with Sustainable BSM
With increased
investor and legislative pressures to make ESG impact, businesses
face challenges to comply and progress quickly enough. New
Sustainable BSM solutions help businesses make more impactful spend
decisions.
- Scope Three Emissions Dashboards expand a business'
visibility into indirect emissions occurring in their value chain
to help drive sustainability initiatives and reach net zero
goals.
- Supplier Diversity Insights now extend to Tier 2
supplier diversity spend. Customers can now request and manage Tier
2 diversity information from their prime suppliers through
customizable forms.
Reduce Supply Chain Risk and Disruption
With supply
chain costs and risks rising and changing faster than ever, Coupa
is launching new AI capabilities throughout the year that help
businesses make smarter decisions to reorient supply chains.
- Supplier Risk in Supply Chain Modeling enables customers
to incorporate key supplier health and risk information directly
into supply chain digital twins to evaluate tradeoffs between costs
and risk.
- Artificial Intelligence Algorithms can be applied to
supply chain digital twins to recommend the best mode of
transportation and route to market bespoke to a business'
needs.
Maximize Capital Efficiency during Inflationary
Times
In today's high inflation environment, businesses are
challenged by stretched budgets and looking for cost-cutting
opportunities. New capabilities in Coupa help businesses negotiate
better and improve working capital.
- Bid Price Insights enables customers to leverage
Community.ai for more visibility into potential savings when
bidding on goods and services, such as ocean freight.
- Supply Chain Financing improves working capital for
buyers and cash flow for suppliers by allowing for more flexible
payment terms.
ADM, a Fortune 100 global leader in sustainable human and animal
nutrition, is one of the Coupa customers highlighted at Inspire for
its BSM digital transformation. As the global procurement
organization embarked on a transformation journey to unlock greater
value for ADM and support company growth – they chose Coupa to
support the transformation, part of ADM's broader 1ADM
transformation program. Prior to Coupa, ADM was shackled with
siloed systems, paper-based processes, and fragmented legacy
technologies.
"Coupa is a team of innovators who never settle for the status
quo and have a relentless focus on delivering a best-in-class user
experience and capability. Coupa unlocks greater value and drives
greater efficiencies for organizations like ADM. As we continue to
set the competitive standard as a world-class procurement function,
Coupa is right there beside us, enabling our procurement
professionals to do what they do best, while making it easy for our
internal and external partners to buy, comply, and supply,"
explained Joe Canaday, ADM vice
president, global procurement center of excellence.
To learn more, visit https://www.coupa.com/thepowerofspend
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. To learn more,
visit coupa.com or follow us on LinkedIn
and Twitter.
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SOURCE Coupa Software