Acquisition extends the company’s leadership in business spend management, empowering businesses to further protect their brand and bottom line
Coupa Software, a leader in business spend management (BSM), announced that it acquired Hiperos, a leading third-party risk management provider and division of Opus. The acquisition enables businesses with the advanced technology they need to extensively evaluate the risk of their full supplier base to further protect their brand and bottom line.
“Third-party risk and compliance is a growing threat as global supply chains expand, regulatory requirements grow, and cyber crimes increase, and until now, businesses have relied on point solutions to manage these risks,” said Rob Bernshteyn, chief executive officer at Coupa. “As an integral part of the Coupa BSM Platform, Hiperos’s advanced third-party risk management offering enables enterprises to extensively evaluate the risk of their supplier base and shift spend to optimal suppliers. I am excited to welcome the Hiperos team to Coupa and look forward to furthering our mission to empower businesses to spend smarter.”
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Based in Branchburg, New Jersey, Hiperos’s cloud application enables businesses to actively manage third-party risk and compliance, including advanced risks such as information security, bribery and corruption, and demanding new data privacy regulations like the General Data Protection Regulation (GDPR). As part of the Coupa BSM Platform and marketed as Coupa Risk Assess, Hiperos enables companies to:
- Assess supplier relationships from the beginning (prior to contract) as well as the breadth and depth of work each supplier does with the company
- Identify risk throughout the supply chain by gathering comprehensive information on suppliers’ suppliers
- Manage risk and compliance with multiple risk domains (e.g. InfoSec, FCPA, GDPR, etc.) and comply with new risk domains as they emerge
- Proactively communicate risk information to decision makers so that spend and risk management decisions can be made effectively, while managing action plans to de-risk the entire supplier relationship
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“Third-party data breaches are rising, new regulations are complex, and businesses are working with more third parties than ever,” said Emanuele Conti, chief executive officer at Opus. “We founded our business with the primary goal of providing companies with a comprehensive and market-leading solution to proactively manage third-party risks. We could not be happier to be joining Coupa and make third-party risk management a core piece of companies’ overall business spend management strategy.”
“Due to an increasing number of high profile breaches and the increasing risk of extended services and physical supply chains, third-party risk mitigation and compliance has become a top priority for large organizations across industries. Using a holistic approach to managing suppliers and spend can shine a proactive light on vulnerabilities, while reducing risk and protecting brand reputation,” said Jason Busch, managing director at Spend Matters. “Coupa’s acquisition of Hiperos hits on a critical need in the market – the merging of third-party risk management with broader business spend management processes. Coupa has an established process for marrying acquired companies with their platform and we expect to see the same operational model deployed for Hiperos’s industry-leading integrated risk management capabilities.”
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