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Coupa announces new product innovations

Thursday 7th November, 2019

Coupa Software has announced at its annual Inspire'19 conference new product innovations that extend the capabilities of its cloud-based platform for businesses to manage all their spend in one place. Coupa’s latest innovations empower businesses with the visibility, control, and agility to spend smarter together.

“Now more than ever, businesses need a comprehensive platform to effectively manage all of their business spend so they can respond swiftly and smartly to any competitive or economic pressure,” said Raja Hammoud, executive vice president of products at Coupa. “The innovations that we announced today - conceived with and by the BSM community - are designed to help businesses learn, share, and collaborate, and get the spend control they need to thrive at all times.”

The Coupa BSM Platform brings together a global community of businesses to collaborate with one another, and to leverage prescriptive insights from more than $1.3 trillion in cumulative business spend.

• Source Together, offered through the Coupa BSM Platform, brings companies together to leverage their collective buying power and help deliver greater savings from suppliers for commodities or services across geographies.
• Supplier Insights helps relieve sourcing teams of the arduous task of manually identifying diverse suppliers to more quickly align to their broader corporate social responsibility goals.

The foundation of spending smarter is a comprehensive, user-centric platform that makes it easier for everyone in an organisation to manage all aspects of business spend, from source to settle. This means delivering a unified, consumerlike experience across all areas of spend that enables employees to rapidly adopt and obtain value from new capabilities offered on the Coupa BSM Platform.

•Within six months of Coupa’s acquisition of contract lifecycle management solution Exari, the company has rapidly unified the technology - now called Coupa Contract Lifecycle Management Advanced - with its BSM platform.
• With Coupa Pay for Expense Payments, companies can reimburse employee expenses directly from within the Coupa BSM Platform.

Coupa App Directory allows companies to access third-party applications and data within the context of their BSM processes to empower businesses to make more informed spend decisions. The company’s newest alliances include Amadeus and cytric Travel. With cytric Travel data embedded within the Coupa BSM Platform, travellers now have a single place to view and manage all of their business travel. In addition, EcoVadis provides supplier sustainability ratings, Mastercard Track provides supplier risk data, and BitSight provides supplier cybersecurity ratings.