Coupa’s Platform Manages Billions in Corporate Spend

August 24, 2016

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:

  • One of the world's largest manufacturing companies ($15B+ USD annual revenue)
  • One of the world's largest high-tech companies ($20B+ USD in annual revenue)
  • One of the world's largest apparel companies ($10B+ in annual revenue
  • One of the world's largest medical technology companies ($5B+ in annual revenue)

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:

  • Forrester Research identified Coupa as one of six SaaS vendors with the potential to disrupt the status quo and become breakout leaders in their respective categories.
  • Coupa Software was positioned by Gartner, Inc. in the Leaders quadrant of the Gartner Magic Quadrant for Procure-to-Pay Suites.The company achieved the highest ‘ability to execute’ assessment this year and for two consecutive years has been named a Leader in the Gartner Magic Quadrant.
  • Some of Coupa’s new customers this year include Ultra Electronics, Telehouse, Accent Jobs (House of HR), Airbus, Arizona Federal Credit Union, Porter Airlines, American Tire Distributors, AMS-IX (Amsterdam Internet Exchange), Wärtsilä, Nomad Foods Europe, Frontier Airlines, and Northumbria University.
  • Coupa Advantage Suppliers that were added in the first half of 2016 included Grainger, National Rental Car, 1-800-Flowers, Office Depot, Imperial, Transportation Impact Data Dimensions, Nvoicepay and Corporate Imaging Concepts.
  • Coupa Inspire 2016 garnered participation from partners including KPMG, Deloitte Consulting LLP, Accenture, IBM, American Express, The Shelby Group, The Hackett Group, Cross Country Consulting, Armanino, Acquis, BluVault, Excelerated S2P, PunchOut2Go, CSI GlobalVCard, Spend HQ, Avalara, Sabre, Scan-One and Rosslyn Analytics.
  • Former Chief Procurement Officer (CPO) and international executive Leslie Campbell joined Coupa board of directors. Campbell is an accomplished business leader with more than 30 years of multi-disciplinary experience in the fields of finance, technology and publishing.
  • Coupa Software signed a partnership agreement with ACANTIS to expand Coupa’s Software-as-a-Service (SaaS) brand in the German-speaking DACH markets - which includes Germany, Austria and Switzerland.
  • CoupaConnect brought together global industry thought leaders from the procurement, finance, IT and AP sectors representing individuals based in Manila, Singapore, Monterrey, Melbourne, Toronto and Mexico City. The leaders participated in roundtable discussions about spend optimization trends and best practices.
  • Coupa CEO Rob Bernshteyn released a new book, Value as a Service: Embracing the Coming Disruption (Greenleaf Book Group, August 2016). In Value as a Service, Bernshteyn provides step-by-step insight for today’s business leaders on how they can better provide and measure the delivery of value to customers.

 

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.

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