![Rob Bernshteyn, CEO, Coupa [NASDAQ: COUP]](https://www.apacciooutlook.com/company_logos/qbzsb.lobo7.3000uyt.gif "Rob Bernshteyn, CEO, Coupa [NASDAQ: COUP]")
Rob Bernshteyn, CEOBased out of San Mateo, California, Coupa provides a procurement management system that is reshaping the procurement experience. Designed to resemble the simplicity of customer shopping, the solution, Coupa Procure, allows clients and their employees to procure all goods and services and manage the procurement spend. Company-Wide adoption of this solution allows users to gain full visibility into their spend behavior, while also lowering the time and cost expenditures of the company. Coupa Procure guides employees throughout the buying process, surfacing preferred products and services to alert employees on discounted pricing and other advantages. It streamlines various procurement management processes and guarantees a high-user adoption rate across the employees at various levels and suppliers. Companies can also manage their budgets and gain greater visibility through real-time dashboards that project budgetary impacts.
Additionally, Coupa takes a comprehensive approach to spend management with a unified platform that allows users to view all their spend in one place. Users can simplify their order processes and purchase requisitions while tracking them to attain the most pre-approved spend flowing in the system. With this digitized flow of spend, the system not only allows users to gain visibility but also enables greater control needed in the purchase-to-pay processes to ensure compliance. The adoption of the system is rather seamless and natural because of its simple and modern design. The uniform company-wide adoption also translates to greater value.
Coupa Procure provides a seamless shopping experience through a centralized area to compare all the suppliers’ items. It also allows users to increase savings and prevent rogue spending. Through flexible forms, companies can guide their employees to enter correct data for SOW-based services and enable spot buy capabilities when required. The system also allows suppliers to submit timesheets and work details for delivery tracking and service performance. Apart from providing real-time budget tracking dashboards that will enable users to know the availability of budget before committing spend, Coupa’s system also detects fraud with Spend Guard, a system that leverages artificial intelligence and machine learning techniques to identify errors and frauds. This enables greater risk management efficiency and overall protection from financial threats across the suppliers.
Coupa also makes its system available on mobile platforms, adding greater speed to approvals. Personnel involved in the approval chain can monitor the status of purchases and authorize or reject the purchases from anywhere in the world. Companies can manage inventories with constant monitoring and reduce excessive and redundant spend. It also provides a central repository to store contracts for future references. Through contract reinforcement, companies can also avail negotiated discounts and save on needless expenditure. This robust platform provided by Coupa ensures that clients are always ahead in digitalizing procurement and reap the benefits of time and cost savings.
Coupa takes a comprehensive approach to spend management with a unified platform that allows users to view all their spend in one place
Coupa Procure provides a seamless shopping experience through a centralized area to compare all the suppliers’ items. It also allows users to increase savings and prevent rogue spending. Through flexible forms, companies can guide their employees to enter correct data for SOW-based services and enable spot buy capabilities when required. The system also allows suppliers to submit timesheets and work details for delivery tracking and service performance. Apart from providing real-time budget tracking dashboards that will enable users to know the availability of budget before committing spend, Coupa’s system also detects fraud with Spend Guard, a system that leverages artificial intelligence and machine learning techniques to identify errors and frauds. This enables greater risk management efficiency and overall protection from financial threats across the suppliers.
Coupa also makes its system available on mobile platforms, adding greater speed to approvals. Personnel involved in the approval chain can monitor the status of purchases and authorize or reject the purchases from anywhere in the world. Companies can manage inventories with constant monitoring and reduce excessive and redundant spend. It also provides a central repository to store contracts for future references. Through contract reinforcement, companies can also avail negotiated discounts and save on needless expenditure. This robust platform provided by Coupa ensures that clients are always ahead in digitalizing procurement and reap the benefits of time and cost savings.
Coupa [NASDAQ: COUP] News
Global IT spend is down 3.2 percent from a growth rate projected in January 20191, according to Gartner Research. As CIOs are tasked to do more with less and be strategic advisors to their businesses, Coupa is expanding its relationship with AWS to empower CIOs with better control over their organization's software spend throughout the entire buying process – from search to post-purchase – without compromising speed.
"As more companies move their infrastructure and applications to the cloud, their IT leaders need to empower builders while optimizing IT spend with subscription models that can reduce costs," said Dave McCann, vice president, AWS Marketplace and Catalog Services at Amazon Web Services, Inc. "We're pleased to expand our relationship with Coupa as they empower our shared customers to innovate faster by utilizing AWS Marketplace and Coupa to search for, purchase, deploy, pay for, and govern software across teams and functions."
Aon, an early adopter of the Coupa Open Buy with AWS Marketplace solution, is using this capability to improve workflows across teams and empower their builders to innovate quicker for their clients. "As a large global enterprise with multiple business units, we need to govern software procurement and IT spend as we move to the cloud," saidRajeev Khanna, chief technology officer and senior vice president IT Platform Services at Aon. "With Coupa and the breadth of solutions available on AWS Marketplace, our builders can find and choose the best software for their needs, and our IT leaders can use Coupa to approve terms and compliance quickly. The combination gives us more governance and better visibility into software procurement, while letting our builders innovate."
"CIOs often struggle to get control of IT spending that is happening in different departments and systems across the company because of siloed purchases and processes," said Rob Bernshteyn, chairman and chief executive officer at Coupa. "By running the entire AWS Marketplace purchase process from search through payment and beyond on the Coupa platform, IT leaders can now bring order to this spend. By working with AWS, we are putting CIOs back in the driver's seat, giving them the visibility and control to make smart purchases that impact their business strategy and bottom line."
This relationship is powered by the same technology as Coupa Open Buy with Amazon Business that is used by many customers to help provide an easy connection with AWS Marketplace.