Initiative reimagines B2B communities by connecting users to data and one another
Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), today launched a set of next-gen spend management innovations under the umbrella of Community.ai. Coupa combines the power of data-driven artificial intelligence with person-to-person connections to transform B2B communities and how buyers and sellers interact.
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Underpinning Coupa’s Community.ai is the massive amount of data generated every day from more than 2,000 global customers – Coupa’s platform has processed $3+ trillion of cumulative spend from the BSM community. Combined with novel ways for users to interact directly and in groups, Coupa’s proprietary artificial intelligence aggregates data and then leverages it to help organizations discover deeper insights, make better decisions, and support mutual success.
“Community.ai gives our growing community of customers valuable business insights at an unparalleled scale and speed,” said Rob Bernshteyn, chairman and CEO of Coupa. “We’re not just imagining a better business community, we’re building one with our customers. And as our community grows, we believe it will continue to become exponentially smarter and more valuable for everyone that’s part of it.”
The spend management capabilities at the core of Community.ai are anchored in Coupa’s Community Insights and Community Connections.
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Community Insights: Capabilities leverage anonymized transaction data to unlock business value for users to become more efficient, profitable, and sustainable.
Examples include:
- Pricing Insights: Benchmark prices for items frequently purchased across the Coupa community to identify and execute on new savings opportunities. View aggregated statistical pricing analyses and take action with prescriptive recommendations to help users secure the best possible prices for those items.
- Process Insights: Track key metrics to measure the impact of improvement initiatives and benchmark performance against industry leaders. With Process Insights, users can better understand their procure-to-pay process efficiency by easily analyzing the relationships between requests, orders, invoices, and payments.
- Early Payment Discount Insights: Review realized and missed early payment discount opportunities to gain a deeper understanding of organization performance, helping AP teams move beyond basic cost controls and drive more strategic initiatives.
- Community Supplier Search: Easily discover new suppliers by searching across the broader Coupa community. This expanded search experience helps users discover new suppliers, improve sourcing event selection, and increase spend with diverse suppliers.