SAN MATEO, Calif.--(BUSINESS WIRE)--Coupa Software, a leader in cloud-based spend management, announced today that more of the world’s largest brands have deployed Coupa because they are increasingly recognizing the value of managing their spend to achieve real, measurable business success with software that reflects consumer-driven innovations.
Since the company’s inception, customers have used Coupa’s platform to bring more than $200 billion of cumulative spend under management, which Coupa estimates has resulted in more than $7 billion of customer savings to date, based on applying certain savings rates derived from industry benchmarks. This customer success helped propel Coupa to more than $100 million of billings last year and has helped Coupa grow revenue by more than 60 percent year over year.
Coupa has recently signed up some of the world's largest brands representing a cross-section of sectors that view simplicity and flexibility as critical to achieving full software adoption across employees and suppliers alike. These global companies include:
- one of the world's largest manufacturing companies ($75B+ USD annual revenue)
- one of the world's largest banking and financial services companies ($35B+ USD annual revenue)
- one of the world's largest industrial services companies ($15B+ USD annual revenue)
- one of the world’s largest banking and financial services companies ($10B+ USD annual revenue)
- one of the world's largest healthcare and life science companies ($10B+ USD annual revenue)
- one of the world’s largest manufacturing companies ($35B+ USD annual revenue)
To meet the evolving product and technology needs of today's global enterprises, Coupa also enhanced its cloud platform with the unveiling of Release 14 in January 2016 and the availability of Release 15 in May 2016. Additional product enhancements include the launch of a new API certification program to connect Coupa customers’ faster, the expansion of embedded dashboards and analytic capabilities to provide big data visibility, and the modernization of Coupa’s contract lifecycle management product. In January 2016, Coupa announced the acquisition of Vancouver, Canada-based Contractually to help businesses streamline the way they manage contract lifecycles, by reducing human error and increasing efficiency.
“I am proud of the value we are able to create with all our customers: small, medium and large. But there are no secrets to the success that our customers are having. It is the result of our joint clarity of purpose, focus on results, and commitment to continuous improvement,” said Rob Bernshteyn, CEO of Coupa. "Our company’s momentum reflects an objective that is woven into the DNA at Coupa, which is to provide our customers with the industry’s best solutions that add value to their bottom line by driving measurable and quantifiable outcomes.”
In May 2016, Coupa hosted a record number of customers, partners, prospects and employees during its annual Inspire conference held at the Westin St. Francis in San Francisco’s Union Square. Inspire is one of the fastest growing spend management industry events in the world. During the conference, Coupa’s Bernshteyn hosted Sir Richard Branson, Founder of the Virgin Group, and his son, Sam Branson, a social entrepreneur, filmmaker and adventurer, as featured speakers in an exclusive keynote.
Bernshteyn also released to attendees at Inspire advanced copies of his forthcoming book on Value-as-a-Service, which is scheduled for official release in August 2016. Bernshteyn’s book examines how businesses are rapidly gravitating towards products that provide a quantifiable value to customers.
Coupa’s Recent Business Highlights:
Customers Recognize Coupa’s Value at Industry Events
- Top global customers that spoke about Coupa this year at Inspire and other industry events include: Airbus, Sanofi, The Global Fund, Swiss Re, BAE Systems, H&R Block, Bank of Montreal, ENGIE UK, McKinsey & Company, Greif, Inc., MIT University, New Orleans College Prep, Mallinckrodt Pharmaceuticals, Deloitte Canada, Woodward, Inc, Pilot Thomas Logistics, Uber, Ausdrill Limited, and Box.
- Some of Coupa’s new customer wins include Pacifix, TOMS Shoes, World Vision Canada, and Glassdoor. Recent go-live customers include Wacom and Forest City Enterprises.
- These customers join industry-leading companies such as Juniper Networks, American Express Global Business Travel, Salesforce.com, and XPO Logistics, Inc.
Known for One of the World’s Largest Business Networks
- Coupa announced that its platform has connected to 2 Million suppliers. Coupa now has one of the largest business networks in the world, encompassing customers and suppliers doing business in more than 100 countries. The Coupa Open Business NetworkTM supports the interoperability critical in today’s digital economy.
Received Top-Tier Industry Awards for Global Leadership
- Coupa was recognized for its continued rapid growth by being named the Hottest Emerging B2B Software Business in Europe by an executive recruiting firm in London based on an annual survey of business leaders working in the enterprise software market.
- Coupa also was selected as a Red Herring Top 100 Global Winner, which recognizes the leading private companies from North America, Europe, and Asia, celebrating their innovations and technologies across their respective industries. These awards add to Coupa’s impressive list of industry awards and evidence the measurable success that Coupa generates for its customers.
Continue to Differentiate Coupa with Comprehensive Product Roll Out
- CoupaLink Partner Certification Program to Connect Customers Faster - Coupa’s open API platform is widely used by customers around the globe and currently averages more than 80 million API calls per month. The CoupaLink Partner Certification Program provides customers access to a larger set of software partners that can connect third-party applications to the Coupa platform faster than ever before.
- Added Collaborative Authoring to Modernize Contract Lifecycle Management - Coupa announced the general availability of its Contract Collaboration module, a new unified application within its spend management platform. The new module adds significant new functionality to Coupa’s existing contract management capabilities to help improve productivity, decrease risk and increase contract compliance.
- Delivered Release 14 in January 2016 - This release added more than 45 features across the full application suite. The update provided more sourcing control, extended global e-invoice compliance and added customer top-voted features across the Coupa application suite and Coupa Open Business Network™.
- Delivered Release 15 in May 2016 - This release added more than 45 features across the full application suite. Some of the features were hyperlocalized languages with Suggest-A-Translation (patent pending) which provides new levels of cloud personalization where end users can suggest a translation (to meet the unique business vocabulary) and the administrator can apply to their cloud instance in real-time. Leading edge innovation from Coupa.
- Updated Embedded Actionable Analytics: Expanded embedded dashboards and analytic capabilities provide big data visibility across expense reports, contracts, accounts payable and purchasing. This is an analytics layer that allows you to drill into the individual transactions and act on those transactions. One unified system.
- Announced InvoiceSmash Early Access Program - Coupa announced its plans to release an application that will help make processing supplier invoices faster, easier, and less expensive than is currently possible with legacy optical character recognition (OCR) solutions, while also improving compliance, data quality and supplier participation. Coupa’s InvoiceSmash application is expected to be generally available later this year, however select customers are invited to join the early access program where they can now start using it in production, and provide feedback to Coupa before the general availability release.
Solidified Leadership with formation of Coupa’s Executive Advisory Board, Strategic Partnerships and Expansion of Coupa Advantage
- Coupa formed a new Executive Advisory Board (EAB) comprised of top business leaders from various industries that will rethink how companies can raise profits and reduce costs with cloud-based spend management. The EAB’s goal is to transform how enterprises manage their spending while achieving improved employee productivity and contract compliance in the new digital economy.
- Announced Sabre and Coupa Agreement - Sabre Corporation (NASDAQ: SABR), the leading technology provider to the global travel industry, and Coupa Software, a leader in cloud-based spend management, announced an agreement that will allow industry leading corporations using Sabre's GetThere online booking solution to seamlessly integrate booking data to Coupa's cloud-based expense management solution.
- Announced Armanino and Coupa Agreement - Armanino, one of the largest Microsoft Dynamics and Intacct Partners in the U.S., and a provider of audit, tax, consulting services and technology services, announced the firm will become a value added reseller for Coupa Software, a leader in cloud-based spend management solutions. Armanino and Coupa have worked together on successful client engagements for the past year.
- Thirty partners sponsored Coupa’s Inspire ’16, one of the fastest growing spend management industry events in the world. Platinum Sponsors include KPMG and Deloitte and Gold Sponsors include IBM, AMEX, Accenture and The Shelby Group.
- More than 50 charities have received contributions from the Coupa Advantage program. In 2016, Coupa Advantage has significantly expanded its member base with more than 160 customer-supplier relationships now in place. Also additional donations were made to charities, including to Big Change which is a charity supported by Branson.
Honored Individual Customers for Exemplifying Collaborative Leadership
- Announced Coupa Community Champion: James Bargerbos of Ausdrill Limited. The champion award is presented to a customer that most embodied the spirit of Coupa's principle of the Power of We - where none of us is as smart as all of us working together. The principle encourages collaboration among peers, across industries and across geographical boundaries to work together to improve the overall spend management industry.
- Presented three customers with an inaugural MVP award for exemplifying attributes in the workplace that are aligned with Coupa’s core values. Coupa employees were tasked with nominating customers they believe embodied Coupa’s core values and deserved recognition as a “Most Valuable Player” in three categories: ensuring success, focusing on results and committing to excellence.
About Coupa Software
Coupa Software, a leader in cloud-based spend management, enables businesses everywhere to recognize bottom-line financial success via Value-as-a-Service. Customers – small, medium and large - representing the Americas, EMEA, and APAC rely on Coupa to support business agility and reduce costs. Only Coupa provides an organic suite of true cloud spend management applications, including invoicing, procurement, expense management, sourcing and inventory, allowing customers to realize a return on investment that can start within a few months and grow continually. Learn more at www.coupa.com.