Coupa Software (NASDAQ:COUP), a leader in cloud-based spend
management, today announced Coupa Release 17 (R17), its first major
cloud platform update of the year. R17 gives customers
comprehensive data-driven insights to help them accelerate
decision-making and improve business results. The insights leverage
the data network effects of the Coupa platform’s B2B spend under
management to help customers gain more value and spend smarter.
“Customers seek big data solutions that deliver B2B insights and
benchmarks to drive business decisions,” said R "Ray" Wang,
principal analyst, founder and chairman of Constellation Research,
Inc. “Only forward thinking providers with clear data acquisition
strategies and large data warehouses are able to deliver these
types of powerful data network effects. Cloud providers have an
advantage over on-premises solutions in innovation and
flexibility.”
The release also expands global regulatory compliance, enhances
supplier collaboration, and adds new capabilities across the entire
Coupa platform from travel and expense management to sourcing,
e-invoicing, inventory, and more.
“We value Coupa’s focus on continued rapid innovation. This in
turn enables us to effect ongoing improvements in our
procure-to-pay and spend management processes,” said James
Bargerbos, Coupa Administrator at Ausdrill Limited. “We have been
involved in the Coupa Community and advisory boards and we are
pleased to see our feedback incorporated in Release 17.”
As with every Coupa platform update, R17 was designed with a
collaborative and innovative approach that involved customer ideas
and feedback through the active Coupa Community and Coupa Advisory
Boards. The R17 platform update became available just four months
after Coupa’s R16 release in September 2016.
Release 17 includes:
Perfect Fit Insights (Early Access Program
Only) – A new unified application in the Coupa cloud
platform for business spend. This market-differentiated solution
delivers cross-customer savings, efficiency, and adoption metrics
to help organizations track and measure key performance metrics
inclusive of customer specific goals, trends and category leader
indexes. The application provides actionable recommendations for
making specific business improvements. Perfect Fit Insights is
currently being made available to select customers in an Early
Access Program.
Expanded Regulatory Compliance – As government
regulations change, the Coupa platform changes with them. This
release adds country-specific invoicing templates for Australia,
Belgium, Czech Republic, Singapore, Slovakia, Spain, and
Poland.
Enhanced Supplier Collaboration – Connecting
businesses is an important aspect of the Coupa Open Business
NetworkTM which includes more than two million connected suppliers
globally. Release 17 makes it easier than ever for organizations to
collaborate by:
- extending the window for sharing information with bidders and
answering supplier questions following the end of sourcing events
and
- adding SMS text message alerts so suppliers can get immediate
updates for cross platform capabilities such as purchase orders,
invoice payments, catalog updates, and supplier information
management updates. These SMS text message alerts continue to
redefine B2B supplier networks by proactively delivering real-time
updates to suppliers of all sizes instead of requiring a network
login to check status. This new SMS capability adds to existing
supplier alerts via email.
Additional System Administrator Functionality –
The Coupa platform can be configured to meet many organizational
needs without slow and expensive custom development. R17 extends
configurability in areas such as additional settings for customer
branding, new approval chain conditions, and mandatory e-invoicing
field options. System administrators also now have enhanced travel
and expense delegation management via file upload and
integration.
“Since 2006, Coupa has been laser focused on building a cloud
platform that captures global B2B spend data covering areas such as
procurement, travel and expense management, and invoicing,” said
Donna Wilczek, vice president strategy and product marketing at
Coupa. “Release 17 is simply the start of how we will leverage
these data network effects to deliver actionable B2B insights
unavailable elsewhere.”
The 2016 Coupa Benchmark report containing 12 key spend
management performance indicators in four key areas (Process
Efficiency, Digitization, Compliance, and Savings) is available
at: http://get.coupa.com/Report_Coupa_Benchmark_2016_RequestReport.html?utm_source=PR&utm_campaign=2017Q1&utm_medium=GlobalNewsWire&utm_content=Coupa-Benchmark-Report
On Thursday, January 26, join a panel of industry leaders for a
Webinar at 8 a.m. PST/11 a.m. EST to discuss the important role
benchmarking plays in their success. The panel of experts will
share their key performance indicators that help them drive savings
and improve operational efficiency. For more information, please
click on the following URL:
http://get.coupa.com/guide-to-spend-management-success-webinar-request.html?utm_source=PR&utm_campaign=2017Q1&utm_medium=GlobalNewsWire&utm_content=Coupa-Benchmark-Webinar
Forward-Looking Statements:
This release includes forward-looking statements. All statements
other than statements of historical facts, including the quotations
and statements regarding the capabilities of our platform and
Release 17, are forward-looking statements. These forward-looking
statements are based on Coupa’s current expectations and
projections about future events and trends that Coupa believes may
affect its financial condition, results of operations, strategy,
short- and long-term business operations and objectives, and
financial needs.
These forward-looking statements are subject to a number of
risks, uncertainties and assumptions that may cause actual results
to differ materially, including that if our platform, including
Release 17, fails to perform properly, our reputation could be
adversely affected, our market share could decline and we could be
subject to liability claims. These and other risks and
uncertainties that could affect Coupa’s future results are included
under the captions “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations,” in
Coupa’s quarterly report on Form 10-Q filed with the SEC on
December 9, 2016, which is available at www.investors.coupa.com and
on the SEC’s website at www.sec.gov. Further information on
potential risks that could affect actual results will be included
in other filings Coupa makes with the SEC from time to time.
The forward-looking statements in this release reflect Coupa’s
expectations as of the date hereof. Coupa undertakes no obligation
to update publicly any forward-looking statements for any reason
after the date of this release to conform these statements to
actual results or to changes in our expectations.
About Coupa Software Coupa Software
(NASDAQ:COUP) is the cloud platform for business spend. We deliver
“Value as a Service” by helping our customers maximize their spend
under management, achieve significant cost savings and drive
profitability. Coupa provides a unified, cloud-based spend
management platform that connects hundreds of organizations
representing the Americas, EMEA, and APAC with millions of
suppliers globally. The Coupa platform provides greater
visibility into and control over how companies spend money.
Customers – small, medium and large – have used the Coupa platform
to bring billions of dollars in cumulative spend under management.
Learn more at www.coupa.com. Read more on the Coupa
Blog or follow @Coupa on Twitter.
Media inquiries:
Orlando De Bruce
Coupa Software
Global Public Relations
orlando.debruce@coupa.com
O (650) 485-8629
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