Community-generated AI innovations help businesses grow effectively, run efficiently, and operate with confidence
Coupa, the margin multiplier company, announced new AI-driven innovations at Inspire, its annual community conference, across its total spend management platform that provides direct and indirect spend solutions.
“Today’s complex and dynamic operating environment has placed enormous pressure on traditional business models and approaches. CEOs and CFOs are struggling to grow their organizations efficiently and effectively and their margins are eroding at unprecedented rates,” said Leagh Turner, Coupa CEO. “Coupa enables a margin multiplier effect for our customers. Our platform is powered by community-generated AI, across a network of millions of buyers and suppliers, and more than six trillion dollars in transactional data. This data serves as the pulse of the global economy and helps guide our customers to make smarter decisions that create durable and sustainable growth.”
“Coupa is uniquely positioned to address the challenges today’s businesses are facing in growing their margins. By amplifying AI informed by our powerful community, Coupa provides opportunities for CFOs and CPOs to free up funds that can be reallocated toward growth initiatives across their operations. With Coupa, companies can achieve growth through productivity, efficiency, and resiliency gains, while safeguarding their operations from compliance issues and risk,” said Sameer Areff, Coupa Chief Transformation Officer.
Drive New Levels of Autonomy with AI
Coupa’s AI innovations help businesses optimize two of their most important assets – money and people. New AI-powered advancements include:
- Contract Intelligence helps teams prevent revenue loss and make faster and more informed decisions. It uses AI to analyze and extract key data, enabling users to load third-party contracts and create records automatically. Contract amendments can be tracked comprehensively and more effectively, which helps reduce risk. What used to take hours of manual work, now takes seconds.
- Purchase Order (PO) Collaboration Intelligence keeps businesses running and increases supply chain resiliency by reducing lead times, expediting troubleshooting, and improving delivery performance. For instance, it uses AI to automate order change requests by processing emails to generate PO confirmations.
- Coupa Navi™, a GenAI-based AI agent, provides real-time support and guidance helping teams make smarter decisions faster. Navi guides users through intake and purchase requests, auto-populates forms, creates personalized dashboards, surfaces key data and insights, and speeds up approval cycle times.
“At Topgolf, we’ve witnessed significant growth and a new speed of business change. Coupa has enabled us to transform our operations to keep up, increasing efficiency and reducing risk, all while continuing to drive new growth. We’ve been able to increase our margins and productivity at our venues using Coupa,” said Naresh Srinivasan, CAO at Topgolf. “Building a world-class organization means embracing new AI-driven technologies — and I’m delighted Coupa continues to grow the number of AI use cases across its platform with these new innovations and will help us drive increased efficiency and growth.”
Control Margins Across All Spend
Coupa aids businesses in effectively managing supply chain disruptions, optimizing costs, and ensuring business continuity for sustainable growth. New solutions that improve forecast accuracy and identify areas to unlock cash include:
- Category Planner helps businesses better define priorities and spend category strategies by providing visibility into all their spend holistically. It provides commodity-level insights that tell businesses if they’re spending more than peers – prompting negotiating opportunities to drive savings that improve working capital.
- Forecast Collaboration helps businesses reduce inventory costs by improving forecast accuracy, improve customer service due to reduced shortages, and capitalize on upside demand opportunities by connecting supply chain planners and suppliers. Forecast Collaboration is part of Coupa’s Supply Chain Collaboration solution.
“Coupa’s commitment to leveraging cutting-edge technology to ensure our customers’ success remains our top priority. By leveraging these new and powerful AI use cases, we’re giving customers a disruptive advantage to achieve bottom-line performance gains and top-line growth,” said Fang Chang, Coupa’s Chief Product Officer.
Coupa’s partners are also critical to the success of the Coupa Community. Titanium Sponsors at this year’s Inspire event include – Accenture and KPMG. Platinum sponsors include Bottomline and PwC. “We couldn’t hold our event without our partners, and we would like to thank these signature sponsors and all of our partners who participate for their support and contributions to making Inspire Americas 2024 a success,” said Greg Harbor, Coupa’s Chief Partner Officer.
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