SAN MATEO, Calif.--(BUSINESS WIRE)--Coupa Software, the leading provider of cloud applications for finance, announced today that Bryce Berg, Molina Healthcare’s Vice President of Corporate Administration, has won Coupa’s Innovation Leaders Award in Healthcare. The award recognizes Berg’s successful transformation of Molina’s procurement sourcing and invoicing processes, an initiative that has facilitated Molina’s growth.
The Coupa Innovation Leaders Award recognizes individuals or teams who have transformed their organizations through new approaches to business and technology that create measurable value. Berg is the first recipient of the Coupa Innovation Leaders Award for Healthcare.
Such transformational efficiency programs are especially important in the health care industry, particularly as the Affordable Care Act increases the pressure on providers to find new ways to reduce the overall cost of health care.
Molina Healthcare provides quality health services to financially vulnerable families and individuals covered by government programs. Molina Healthcare has health plans, medical clinics and a health information management solution. No other organization of its kind does all three.
Bryce Berg joined Molina Healthcare in 2010, just as the company had rapidly expanded from 3,000 to 4,000 employees following an acquisition. At that time, the company’s contracting and procurement processes were being handled by each of its individual business units. As Molina grew, it became clear that a centralized procurement operation was needed – one with expertise in areas such as sourcing vendors and negotiating contracts.
“We had enough volume that we could fund the entire central organization just with the savings we would generate from centralizing these processes and by negotiating better contracts,” said Berg. “This project was a key element of Molina’s ongoing effort to manage our administrative costs.”
The company deployed Coupa in 2012 and used the cloud-based platform to automate its procure-to-pay processes while giving employees an easy-to-use web-based system that took the pain out of the purchasing process. As Berg expected, the project also uncovered hidden risks in the previous processes - unfavorable contract terms, inconsistent legal review and others – and helped the company address them.
Key success metrics with Coupa include:
- Drove 100% adoption rate on the Coupa platform
- Reduced requisition approval times to under 48 hours on average
- Increased the efficiency of Molina’s Accounts Payable (AP) department – processing more than twice the volume with 25 percent less staff
- Removed over 85 percent of paper from Molina’s AP process – saving over 150,000 pieces of paper to-date
“Molina’s management team knew the company could leverage its spending a lot better – to be smarter about the way that the company purchased and paid for goods, said Berg. “But as the project unfolded we uncovered and eliminated risks. Management saw an entirely new dimension of value at that point.”
“Molina is one of our most forward-thinking customers,” said Rob Bernshteyn, CEO of Coupa Software. “Bryce has championed a spend management program that has transformed Molina, showcased the value of the Coupa platform and now serves as a playbook for our clients in the healthcare industry and beyond.”
Molina’s growth continues. Membership in 2014 is substantial as the company grows in states, such as Ohio, California, Illinois and others. Molina entered 2014 with 1.9 million members and is over 2.3 million today.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through our locally operated health plans in 11 states across the nation, Molina currently serves approximately 2.3 million members. Dr. C. David Molina founded our company in 1980 as a provider organization serving low-income families in Southern California. Today, we continue his mission of providing high quality and cost-effective health care to those who need it most. For more information about Molina Healthcare, please visit our website at www.molinahealthcare.com.
About Coupa Software
Coupa Software is the leading provider of cloud-based financial applications. More than 450 customers in over 40 countries use the Coupa suite of financial applications to support business agility and reduce costs. Only Coupa provides a suite of true cloud applications for finance, including accounts payable, sourcing, procurement and expense management that allows customers to realize a return on their investment within a few months and savings that continually impact the bottom line. Learn more at www.coupa.com. Read more at our company blog, Making Cents or follow @Coupa on Twitter.