SAN MATEO, CA--(Marketwire - April 28, 2010) - Coupa Software, the leading provider of disruptive and innovative cloud spend management (CSM) solutions, today released the first insights from its Cloud Spend Management Network. This is the first of an ongoing series of Coupa data releases to highlight corporate spending trends, analysis and benchmarking across a number of categories based on anonymous data aggregated from the community of Coupa customers. The ultimate vision for the Cloud Spend Management Network is to become an index of corporate spending across all categories.
At a time when companies are sticking to "do more with less" mandates and remain increasingly cognizant of being smarter and more efficient when it comes to spending, Coupa addresses procurement and expenses head on by delivering a level of visibility into spending behaviors that never existed before.
Coupa Cloud Spend Management delivers the best e-procurement and expense management capabilities in a single solution that is easier to use, faster to configure and deploy, and more cost-effective than anything available today. The platform is already used by companies as varied as Reebok, Salesforce.com, The Container Store, Flextronics, Pandora, Dollar General and dozens of others.
"Coupa has provided us with an unmatched level of visibility into our spending habits, which has enabled us to be smarter and more efficient in tracking and adjusting purchasing behavior moving forward," said David Howard, director of central purchasing for Reebok-CCM Hockey. "The ease of use doesn't call for a ton of internal resources and enables us to prioritize where we direct our focus and efforts. With Coupa we have finally aligned procurement with finance and accounting, which has had a direct correlation with money saved."
Coupa's new Cloud Spend Insights look at dozens of operational benchmarks to compare a company's performance against that of others who are transacting through the Coupa platform. As the only true cloud-based offering in the industry, this repository of data is accessible in real-time and provides the ability to track spending behaviors, see trends over time both internally within an organization, and comparatively across the Coupa community, and set benchmarks to encourage and implement smarter spending habits in the future. Initial findings for Q1 2010 (quarter-over-quarter data based on transactions through the Coupa platform) show:
- Spending up: Median spend increased 5.03%;
- Time saved on purchase cycles: Average purchase request approval cycle time dropped from 19.4 hours to 17.1 hours;
- Categories showing increasing spending: Telco & Internet Services, Technology Services and MRO & Manufacturing exhibited greatest increases;
- Categories showing decreasing spending: IT Hardware, Marketing Services and Transportation Services were the biggest losers;
- Payment terms held steady: Virtually no change in average payment terms, from 31.87 days to 31.79 days.
"Coupa competes in an industry that addresses a critical component to any business -- how to manage spending and expensing -- yet surprisingly this industry is thirsting for innovation," said Rob Bernshteyn, CEO of Coupa. "By providing an unmatched level of visibility into the expense pool, we are enabling companies to drill down and audit problem areas of spending, curb 'maverick' behavior and halt problems before they start. Customers can also for the first time analyze trends and spending behavior internally, as well as see how they are doing in comparison to the market in general."
Coupa is the only cloud-based offering to combine procurement and expense management into a single cloud-based platform. It features a single user interface, a single workflow model for approving purchases and reimbursable expenses, one underlying chart of accounts, one set of budget entries against which to credit purchases and expenses, and consolidated dashboards for unparalleled visibility into non-payroll spending.
About Coupa Software
Coupa is the leading provider of disruptive and innovative cloud spend management (CSM) solutions that help companies control their indirect spending and generate savings that go direct to the bottom line. Coupa combines the best e-procurement and expense management capabilities in a single solution that is easier to use, faster to configure and deploy, and more cost-effective than anything available today. With deep domain knowledge in e-procurement and expense management, a best-in-class cloud computing platform, a fast-growing community of customers, and industry-first innovations like real-time benchmarking, intelligent expense report auditing, and crowd sourcing great deals on the Web, Coupa is leading the way in helping companies spend smarter and save more. For more information please visit, http://www.coupa.com or call 650.931.3200.
Contact Information:
Contact:
Melissa Biles
LaunchSquad
415-625-8555
coupa (a) launchsquad.com