Wednesday 12th December, 2018
Coupa Software has acquired Hiperos a leading third-party risk management provider and division of Opus. The move helps Coupa add more supplier compliance and risk intelligence insight into spend transactions and put a greater focus on reducing third-party risk.
“Third-party risk and compliance is a growing threat as global supply chains expand, regulatory requirements grow, and cyber crimes increase, and until now, businesses have relied on point solutions to manage these risks,” said Rob Bernshteyn, chief executive officer at Coupa. “As an integral part of the Coupa BSM Platform, Hiperos’s advanced third-party risk management offering enables enterprises to extensively evaluate the risk of their supplier base and shift spend to optimal suppliers. I am excited to welcome the Hiperos team to Coupa and look forward to furthering our mission to empower businesses to spend smarter.”
Hiperos’s cloud application enables businesses to actively manage third-party risk and compliance, including advanced risks such as information security, bribery and corruption, and demanding new data privacy regulations like the General Data Protection Regulation (GDPR).
“Due to an increasing number of high profile breaches and the increasing risk of extended services and physical supply chains, third-party risk mitigation and compliance has become a top priority for large organisations across industries. Using a holistic approach to managing suppliers and spend can shine a proactive light on vulnerabilities, while reducing risk and protecting brand reputation,” said Jason Busch, managing director at Spend Matters. “Coupa’s acquisition of Hiperos hits on a critical need in the market – the merging of third-party risk management with broader business spend management processes. Coupa has an established process for marrying acquired companies with their platform and we expect to see the same operational model deployed for Hiperos’s industry-leading integrated risk management capabilities.”
Hiperos has been widely recognised as a leading third-party management provider, including being named a 2018 Provider to Watch by Spend Matters, a Top 20 Most Promising Enterprise Risk Management Solution Provider by CIO Review, and winner of the GRC 20/20 Award for Innovation in User Experience for Third-Party Management.