Friday 7th February, 2019
Coupa has announced its latest release of product innovations for the Coupa Business Spend Management (BSM) Platform. New industry-first capabilities unveiled as part of this release leverage community intelligence, powered by artificial intelligence (AI), and enhanced global compliance capabilities to empower businesses to manage their global business spend in a simpler, safer, and smarter way than ever before.
“Businesses are facing more complexity and uncertainty than ever, stemming from security and fraud risks, to evolving global compliance regulations, and more,” said Raja Hammoud, senior vice president of products at Coupa. “The capabilities that we released today were developed in response to conversations with customers who are navigating this landscape every day. These innovations deliver against our mission to continuously set the innovation agenda for our industry and make business spend management simpler, safer, and smarter for companies everywhere.”
AI-Powered Fraud Prevention
New capabilities in the Coupa BSM Platform enable finance teams to focus on preventing fraud – a growing concern of all businesses – before it happens.
- Coupa Spend Guard is now generally available. Spend Guard leverages AI and insights from the Coupa community to analyse employee behaviours across all spend applications and signal areas of risk, empowering businesses to prevent dollars lost to fraud. With Spend Guard, businesses can shift from after-the-fact fraud recovery efforts to real-time fraud prevention across spend transactions.
"Companies simply don't have the bandwidth to manually review every employee and supplier transaction for fraud. Beyond the sheer volume of transactions, it's very difficult to isolate intentional fraud from simple accidents,” said Jimmy LeFever, senior research director, Global Procurement and P2P Advisory at The Hackett Group. “Coupa’s use of AI to intelligently flag suspicious transactions within the spend cycle will allow businesses to focus audit efforts on stopping payments before they happen to better protect against financial losses."
Consumerised Business Spend Management Experiences
New procure-to-pay (P2P) and supplier management enhancements make the employee and supplier user experience simple and friendly while also driving engagement and increasing spend visibility and control.