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The Silicon Review
“Value is worthless until delivered.”
Why should the way we buy at work be any different than the way we buy at home? Answer: It shouldn’t. And so Coupa’s procurement software was born. It doesn’t matter how powerful your procurement system is on the back end, because if people can’t or won’t use it, you won’t save a dime. Companies that use Coupa see unprecedented rates of user adoption. Many of our customers say Coupa makes shopping at work feel just like online shopping at home.
Procurement is not the only way companies spend money, so Coupa set out to build a unified suite that brings that same user-centric approach to all of the ways companies spend money, giving customers 360-degree visibility of spending that’s happening company-wide so they can see and then save. Coupa’s unified spend suite includes invoicing, expenses, sourcing, contract lifecycle management, budgeting, analytics and more. Today, Coupa Software is an award-winning, industry leader in cloud-based spend management, enabling businesses worldwide to recognize bottom-line financial success via Value-as a-Service.
Addressing the uniqueness, Coupa is the only company that provides an organic suite of true cloud spend management applications, including invoicing, procurement, expense management, sourcing and inventory. Its focus on generating meaningful and measurable value to its customers allows these customers realize a return on investment that can start within a few months and grow continually.
In the Market
Coupa has been positioned by IT analyst firm Gartner Inc. in the Leaders Quadrant of the Gartner Magic Quadrant for Procure-to-Pay Suites for the past two consecutive years. The analysis is considered one of the industry’s most thorough evaluations of enterprise purchasing services solutions.
Coupa was positioned as a leader for its ‘ability to execute’ and ‘completeness of vision’, and its solutions decrease costs continuously while increasing supply chain efficiencies. Since the company’s inception, customers have used Coupa’s platform 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 from industry benchmarks. Coupa also benefits from a large and global business network– its platform connects to two million suppliers in more than 100 countries.
Adoption by All
Coupa’s cloud-based spend management suite helps customers gain visibility and control over the spend that happens in a company – such as procurement, expense reporting, and accounts payable. Companies that use Coupa increase their cost savings, improve their compliance, and generate measurable value across the board.
“We’re a cloud platform that people love to use. We understand your spend management program must have adoption by users in order to be successful. That’s exactly why Coupa was designed from day 1 to focus on the end user experience through consumerized and mobile processes. And the measurable results our customers have achieved are clear proof that our unified cloud platform gets adoption,” says Rob Bernshteyn, CEO.
The Client Dimension
Coupa’s solutions benefitorganizations of all sizes and industries worldwide. It works with senior management, finance, procurement, IT and accounts payable professionals to provide clear visibility into savings opportunities.
Its current customers include Toyota, Salesforce, Adidas Group, Groupon, Sanofi, and many others.
In the last quarter, it also announced that it had signed up some of the world’s largest brands representing a cross-section of industries, such as:
The Future Sight
Its focus is creating measurable business value for its customers. Whether the value to the business is agility, spend visibility and control, cost take outs, e-invoicing,contract compliance, cash flow management, supplier risk reduction, efficiency gains, hard dollar savings or more, Coupa has you covered every digital step of the way. It partners with its customers to define clear and measurable goals, often raising its mutual bar higher throughout its long-term partnerships. This is the era of Value as a Service and Coupa is leading the way.
Rob Bernshteyn, CEO and President: Rob also serves as the Chairman of the Board of Directors. Rob has over 20 years of experience in the business software industry. He came to Coupa from SuccessFactors, where he ran Global Product Marketing & Management, and scaled the company from an early start up to a successful public company. Prior to that, Rob worked at companies including Siebel Systems, McKinsey & Company, and Accenture.
Rob is a guest lecturer at the Harvard and Stanford business schools, and is frequently quoted in Forbes and Fortune magazines and major news programs including Bloomberg’s Money Moves and NPR Morning Edition. He is the author of “Value as a Service: Embracing the Coming Disruption,” which delivers the simple idea that measurable value delivered for customers will be the ultimate competitive battleground. Rob holds a B.S. in Information Systems from the State University of New York at Albany and an M.B.A. from Harvard Business School.