Coupa 10 Heralds Sourcing for the Masses

Coupa Software, a provider of cloud-based spend optimization solutions for finance, recently announced the release of Coupa 10. The new release features an entirely new sourcing application designed to bring sourcing to the masses by intelligently guiding users to select the best sourcing opportunities to save money based on real-time analysis of their current spend. It further enhances the capabilities of Coupa’s suite of organic cloud-based procurement applications with record user adoption.

The key messages behind Coupa Sourcing include the following:

  • Self-Service Sourcing (Event Management): Until now, sourcing products and services has been the domain of highly trained specialists using complicated solutions to get buy complex categories. Coupa has applied its aforementioned intuitive DNA for user experience into the sourcing world. Now it should be easy for business users to conduct sourcing events for a large selection of items that they need to purchase. If sourcing is no longer just for the experts, savings can be democratized.

  • Realized Savings: Often companies negotiate a contract with great potential savings that are never even realized. Now with Coupa companies can start purchasing against negotiated contracts immediately. Upon award, the contract employees can take action and open a request for quote (RFQ) immediately against the awarded amount.

  • Proactive Savings Recommendations: Because it is a unified suite of applications, Coupa leverages the information across all of its applications to make recommendations for further savings. Examples would be alerts that specific contracts are about to expire or about an extraordinary increase in a certain area of spend.

In addition to sourcing, Coupa 10’s plethora of multifaceted enhancements spans the entire suite of products while furthering the core capabilities of each product offering. Key features include simplified expense reporting with corporate credit cards, automated accounts payable reconciliation, compliance with item labeling (“green,” “preferred,” “generic,” etc.), streamlined invoice review and approval (for reviewing large volume of invoices via mass actions for review and approval and split screens for viewing scanned invoices alongside invoice fields for quick comparison prior to taking final approval action), and mobile single sign-on (SSO).
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