August 24, 2016 — San Mateo, Calif. — Coupa Software, a leader in cloud-based spend management, announced today that its award-winning platform has been used by its customers since Coupa’s inception to bring more than $250 billion of cumulative spend under management, which Coupa estimates has resulted in more than $8 billion of customer savings to date, based on applying certain savings rates derived from industry benchmarks.
“P2P will enable the use of an automated system to significantly reduce manual purchasing and payables activities. We can improve support of contracts, reduce cycle times and experience efficiencies because of P2P’s ease-of-use.”
Coupa has recently signed up some of the world's largest brands representing a cross-section of industries that view simplicity and flexibility as critical to achieving full software adoption across their employees and suppliers alike. These global companies include:
Coupa works with any ERP system such as SAP, Oracle, NetSuite, Workday or Great Plains to provide organizations with the measurable value that has long been lacking in cloud-based spend management. The University of Alberta (U of A) in Canada, for example, chose Coupa’s spend management solution in part because it integrates quite seamlessly with U of A’s PeopleSoft (Oracle) ERP system.
“We chose Coupa’s Procure-to-Pay (P2P) solution because we want to significantly improve our spend visibility, our management and our control,” said Martin Coutts AVP Finance & Supply Management from the University of Alberta, which is recognized as a top five Canadian University and one of the Top 100 in the world. “P2P will enable the use of an automated system to significantly reduce manual purchasing and payables activities. We can improve support of contracts, reduce cycle times and experience efficiencies because of P2P’s ease-of-use.”
The U of A is one of many global organizations that have deployed Coupa, as these organizations are increasingly recognizing the value of managing their spending to achieve real, measurable business success with software that reflects consumer-driven innovations.
Porter Airlines, which is noted as a top 10 international airline by Travel + Leisure’s World’s Best Awards and recognized as the best regional airline in North America by Skytrax, is another major Canadian brand that has deployed Coupa and is recognized as the first airline to implement Coupa’s travel and expense management solution.
“Porter emphasizes speed, convenience, and service as part of our value proposition for passengers,” said Jeffery Brown, executive vice president and CFO at Porter Airlines. “I believe this makes us stand out and is also why our partnership with Coupa is a natural fit.”
Coupa plans to bring more customer spend under management as Deloitte and Coupa are aligned to help clients in Mexico drive sustainable improvements and capture the value of the implementations of Coupa’s suite of cloud-based financial applications.
“Coupa’s suite of cloud applications will help our clients in Mexico increase control and improve savings,” said Xavier Ordonez, partner, Deloitte Consulting Mexico. “Our focus on sustainable cost savings, through category specific experience and strategies, makes Coupa a natural fit for our clients."
The alignment with Coupa allows Deloitte’s clients in Mexico to leverage Coupa’s product releases, which incorporates customer feedback and industry leading innovations into a unified cloud-based spend management suite. This includes updates across the corporate procurement, sourcing, invoicing, travel and expense management, and inventory suite.
“This has been a tremendously gratifying year so far for Coupa as we continue to address the issues and challenges of today’s modern businesses with our consumer-driven innovations that add true value to their bottom line by driving measurable and quantifiable outcomes,” said Rob Bernshteyn, CEO of Coupa.
“From product innovation and customer adoption across nearly every industry, to the increasing value that our customers are deriving from our platform, to the incredibly talented group of employees we are attracting to join us on our journey to becoming the best company we can be. I couldn’t be more pleased with our continued business momentum and mid-year results.”
Additional milestones for Coupa in the first half of 2016 include:
About Coupa Software
Coupa Software, a leader in cloud-based spend management, enables businesses everywhere to recognize bottom-line financial success via Value as a Service. Customers – small, medium and large - representing the Americas, EMEA, and APAC rely on Coupa to support business agility and reduce costs. Only Coupa provides an organic suite of true cloud spend management applications, including invoicing, procurement, expense management, sourcing and inventory, allowing customers to realize a return on investment that can start within a few months and grow continually. Learn more at www.coupa.com.
Read the original press release on BusinessWire.