Coupa Software, a leader in Business Spend Management (BSM), announced its latest product innovations that extend its cloud-based platform to give customers increased spend visibility, help mitigate supply chain risk, and increase business agility to adapt to change. Amid global economic uncertainty, Coupa’s latest enhancements leverage the power of the customer community and enable businesses to be more resilient during these times and ultimately spend smarter.
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“With so much unpredictability in the world, companies are being challenged to quickly respond to and navigate through the fallout from COVID-19,” said Raja Hammoud, executive vice president of products at Coupa. “More than ever, these businesses need real-time visibility into their spend, the ability to mitigate their supply chain risk and cautiously manage their cash flow. We’re excited to provide our BSM community with the new capabilities to help them adapt to the current times and spend smarter every day.”
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Increase Spend Visibility and Cost Containment
Finance and procurement teams need to make quick decisions about where to cut costs and shift spend in order to protect their business. This requires real-time visibility and complete control of spend across the entire organization. Coupa’s BSM platform unifies all business spend – from sourcing to contracts and invoicing to payments. The newest capabilities enable teams to act decisively and with confidence.
- Big Data Powered Prescriptions: Leveraging data from the Coupa community, prescriptions are now ranked based on the total estimated impact that actions will have on the business. This feature makes it easier for teams to know what actions to take to reduce costs and increase team efficiency.
- Automated Spend Controls: New capabilities and controls automatically block purchases that exceed negotiated contract value and allow for the instant pausing of contracts, invoices, orders, payments, and supplier information request forms.
- Democratized Shipment Tracking: Coupa now gives small and medium suppliers the ability to provide buyers with the same level of shipment tracking that larger businesses have historically provided. Coupa integrates with more than 15 carriers, including UPS, FedEx, USPS, and DHL to give end users visibility into the shipping status of orders, including expected delivery date and detailed shipment history.
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