Wednesday 9th May, 2018
Coupa Software has announced new product innovations to advance the company’s business spend management (BSM) capabilities. Debuted at its annual Inspire conference, the innovations include enhancements to community intelligence, third-party systems, and user-centric experiences that will provide businesses even more visibility into spend, processes and performance.
Raja Hammoud, senior vice president of products at Coupa, said, “Traditionally, finance and procurement teams faced numerous challenges that have prevented effective visibility throughout their organisations. Our BSM solution brings everything together with a single, easy-to-use cloud platform, and our new product enhancements take that holistic approach even further, enabling spend-focused analysis by decision makers.”
The new product release focuses on business fraud, category spend, and employee responsiveness to help customers make accelerated, data-driven decisions using prescriptive community intelligence.
Spend Guard - uses artificial intelligence (AI) to analyse employee spend transactions to help detect potential fraud.
Commodity Insights - helps businesses optimise category spend. Insights include identification of top suppliers for critical commodities, spend benchmarks and recommendations to maximise spend value.
Approver Cycle Times - empowers users to speed up or slow down the approval process by comparing individual performance to peer performance.
Open Platform for Third-Party Systems
The new release extends the value of BSM with third-party systems to support end-to-end business processes that span different functions across an enterprise.
Coupa Inventory - now uses voice commands via Amazon Alexa® to locate items, adjust inventory balances, and reorder stock.
Coupa Open Buy - expands to include supplier items and pricing content from additional suppliers such as Imperial Supplies, Office Depot, and Staples.
Coupa Risk Aware - monitors hundreds of data sources to reduce supply chain risk, can now integrate with customers’ own sources of governance, risk, and compliance (GRC) data.
Coupa continues to deliver more user-centric experiences to increase productivity such as, automatic tax coding for supplier invoices, contract creation from Coupa Sourcing Optimisation and improved handling of business requests that do not result in purchases.