SOURCE: Coupa

Coupa

February 25, 2014 08:00 ET

Colombian Government Deploys Coupa to Achieve $1 Billion in Savings

Colombia Compra Eficiente on Track to Roll out Coupa to 20,000 Users by 2015

SAN MATEO, CA and BOGOTA, COLOMBIA--(Marketwired - Feb 25, 2014) - Coupa Software, the leading provider of cloud solutions for finance, today announced that the government of Colombia is currently rolling out Coupa, targeting savings of $1 billion by Q3 of 2014. The news comes ahead of the latest report from new government agency, Colombia Compra Eficiente (CCE), or "Colombia Buys Efficiently," which will be released at an accountability event on Wednesday, February 26 at 9am COT in the Tequendama Hotel in Bogotá, Colombia.

Before implementing Coupa, each of Colombia's 6,500 government entities was purchasing independently of each other. In April 2012, the President of Colombia, Juan Manuel Santos, created CCE to encourage more efficient spending across all entities. The charter of CCE is to obtain value for money and increase and standardize the purchasing efficiencies for its more than 20,000 users leveraging discounts among vendors. Coupa is now part of the government's strategy to develop e-government solutions to use the framework agreements in public procurement.

CCE chose Coupa's Procure-to-pay application for its ease-of-use, scalability, and best-in-class cloud technology. Now the strategy of framework agreements led by CCE makes the public procurement process more efficient and gives Colombia more visibility, control, and compliance over its spending across all entities of the government. More than 400 public servants are already using Coupa, and that number is expected to grow to up to 20,000 users across all 6,500 entities in the next two years.

CCE is currently offering Coupa's Procure-to-pay application across several entities -- including Colombian military, local hospitals, the Ministry of Defense, and the Ministry of Foreign Affairs -- to leverage discounts from the government's network of suppliers. With Coupa's intuitive interface, user adoption is expected to increase significantly.

Twenty-nine government agencies have already bought fuel and liability vehicle insurance under the framework agreements using the Coupa platform. On top of the savings arising from the aggregation of demand, the procurement officers now spend close to an hour allocating the purchase orders whereas they used to spend close to three months in the contracting process.

Coupa will be used to procure fuel; liability vehicle insurance; stationery; cleaning services for offices; hardware (computers, laptops, tablets, printers, scanners); surveillance service for government buildings and offices; other types of insurance; and IT services (connectivity, cloud services at public and private clouds).

"Coupa is the cornerstone that will help make this initiative successful," said Paca Zuleta, Executive Director at Colombia Compra Eficiente. "We're using the most advanced, scalable, cloud solution available across our government to reduce costs and increase efficiencies. Coupa was the obvious choice. We've had a very successful implementation and we look forward to rolling it out to all of our 20,000 public servants within the next two years."

"Coupa has a very successful record helping governments reduce costs," said Rob Bernshteyn, chief executive officer, Coupa. "We're delighted that CCE is using Coupa to eliminate waste and improve efficiencies for the entire Colombian government."

About Coupa Software
Founded in 2006, Coupa Software is the leading provider of cloud solutions for finance. More than 400 customers across 40 countries rely on Coupa to make their lives better and their companies more profitable. Coupa is the only organic suite of cloud applications for finance, including procurement, expense management and accounts payable that enables customers to launch the solution immediately and quickly realize significant savings. Learn more at: coupa.com or call +1 (650) 931-3200. Read more at our company blog, Making Cents or follow @Coupa on Twitter.

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