Coupa Software Announces Blockbuster Summer Release
New Innovations Include Spend Control Benchmarking, Predictive Spend Dashboards & Proactive Alerts, and a new Tool allowing Companies to Crowdsource the Best Deals from Virtually any E-Commerce Website
06.15.2009 – San Mateo, CA, June 15, 2009 - Coupa Software today announces the limited availability of the July ‘09 release of Coupa e-Procurement, the category disrupting spend management solution for business leaders dissatisfied with procurement applications that either sit on the shelf or underperform in delivering expected savings. With new capabilities that deliver actionable intelligence for every constituent, Coupa is the only e-procurement solution that supports truly collaborative smarter spending initiatives.
“Business executives working hard to grow the company’s bottom line are asking themselves a lot of questions about their company’s spend practices,” said Rob Bernshteyn, Coupa’s chief executive officer. “Do I have leading indicators of potential over-spending? Do I have the levers to course-correct our spending before it’s too late? Is every employee helping us source the best deals to save the company money? Is my competition spending smarter than we are? The Coupa July ‘09 release answers these questions, and more, with new functionality and capabilities that empower the organization to rally around smarter spending initiatives that go directly to the bottom line.”
Coupa will be demonstrating the new capabilities of the summer release in a webcast on June 18th. Registration is complimentary.
Crowdsource, and Control, the Procurement of Goods and Services from Anywhere on the Web
Coupa provides an easy to use and robust alternative to vendor punchout sites with its new iRequest and iBuy capabilities. Now every employee can help the company save money. Coupa iRequest makes it possible, and easy, to requisition any item from any website, and still apply the approval workflows and controls of the purchasing system. Coupa iBuy then facilitates the e-commerce transactions for the buying organization - a one-two punch that frees your entire organization to use the vast information resources of the Internet to practice smarter spending in a manner never seen before.
Customers will also be able to:
- Benchmark their performance against the market. With the introduction of Coupa’s benchmarking service, customers can track and compare their performance against the market for eighteen key performance indicators.
- Show the CFO exactly where the money is going. New spending dashboards provide real-time insight into corporate spending. Plus, forecast spending into the future.
- Take corrective action before it’s too late. Be alerted automatically when spending exceeds an amount you define, or when spending crosses a certain percentage threshold of any budget you wish to track.
- Capture and report savings from transactional data. The Jul 09 release of Coupa e-Procurement introduces executive dashboards, one of which automatically calculates and adjusts contract savings, avoidance savings, process savings, discounts taken, and RFQ savings from the transactional data flowing through the Coupa e-Procurement platform.
- Integrate seamlessly with Quickbooks. The Jul 09 release enhances the Coupa Quickstart deployment wizard with new functionality to quickly (measured in minutes) integrate Coupa with Quickbooks for seamless synching of data between the procurement and accounting applications, eliminating the need for Accounting to rekey invoices.
- Tweet their RFQs. Customers can now automatically publish their RFQs to a Coupa RFQ Twitter stream, reaching potential suppliers from around the globe.
- Rate their suppliers. Taking a page from popular consumer shopping sites, Coupa customers can now rate their suppliers, and track supplier performance on the new executive dashboards.
- Compare prices on the web. New functionality to embed price comparison services in the shopping cart allows requestors to check the web for better pricing before they submit the requisition.
Customers agree that the July ’09 release is a game-changer for the procurement profession:
- "Coupa iRequest will streamline the purchasing process and alleviate the administrative burden when purchasing unique items or obtaining special pricing from on-line suppliers. Through iRequest, we will select the item on-line, bring that item into the requisition and purchase order functions, obtain our approvals in the normal way, and have the order reflected in our regular reporting structures. This satisfies the need on all sides." - Charlene Kling, Kelly Services
- “Fantastic! Coupa iRequest will definitely provide more value to our members!! My favorite new feature!!" - Rochelle McAllister, Georgia Center for Nonprofits
- "Love it! This will make a significant difference in ensuring our students in need can access items not in our catalogue." - Lynne Filderman, Neediest Kids
- "I can''t wait to use them and show the forecasting feature to our VP. This is awesome! " - Sheryl Prince-Cassels, American Baptist Homes of the West
- News Facts
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- Coupa iRequest makes it possible to crowdsource lower prices from the web without sacrificing the approval workflows and controls of the procurement system.
- Elevate the strategic value of the procurement function with predictive spend analytics and proactive spend and budget consumption alerts that warn the right people of potential over-spending while there is still time to take corrective action.
- Now companies can benchmark their spend performance against the market for eighteen key performance indicators covering the full procure-to-pay process.
- Automatically broadcast your RFQs via Twitter to potential suppliers around the world, leveraging social media to solicit bids.
- Resource Links
- Learn More about the Coupa 2009 Summer Release
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Coupa iRequest makes it possible to requisition items from virtually any website.
Coupa iBuy makes it easy to place the online order by presenting all relevant information from the requisition in a Digg-like buyer bar that overlays the online store.
The new dashboards include reports that quantify the savings generated through the procurement organization, and a real-time view into the rate of budget consumption
New benchmarking capabilities compare the company's spend management performance against the market for eighteen key performance indicators.
Spending just got smarter with price comparison engines embedded directly into the requisition.
Be notified before you're in danger of consuming your entire budget with Coupa's budget alerts.
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