SAN MATEO, Calif.--(BUSINESS WIRE)--Coupa Software, a leader in cloud-based spend management solutions, today announced that it has been positioned by Gartner, Inc. in the Leaders quadrant of the Gartner Magic Quadrant for Procure-to-Pay Suites.1 The company achieved the highest ‘ability to execute’ assessment this year and for two consecutive years has been named a Leader in the Gartner Magic Quadrant, which is considered one of the industry’s most thorough evaluations of enterprise purchasing services solutions.
The report evaluated full-suite procure-to-pay solutions from 12 different software vendors on 12 criteria, placing Coupa in the Leaders quadrant based on its ‘ability to execute’ and ‘completeness of vision.’
“We’re proud of Coupa’s continued leadership position in the Magic Quadrant, which further validates the real measurable value we are creating with our customers,” said Rob Bernshteyn, CEO of Coupa. “Our number one core value at Coupa is ensuring customer success and our ability to execute against that value has never been stronger.”
With ever changing business-to-business (B2B) needs, organizations must implement agile solutions that decrease costs continuously while increasing supply chain efficiencies. Such solutions deliver visibility, compliance and predictive insights to help organizations realize savings before the money is spent and the opportunity lost.
As an example, business services company Concentrix has been a Coupa customer for more than two years and has achieved considerable business value by digitizing its financial processes to reduce costs and increase business efficiency. “Coupa has delivered on our operating philosophy which utilizes 3 V’s - Visibility, Velocity and Value.” said Curt Metzger, director of finance at Concentrix. “We use Coupa to substantially increase our operating income year over year to grow and scale efficiently.”
In May, Coupa announced a number of key performance metrics that marked 2015 as a milestone year. 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.
Coupa continued to reinforce its innovation and technology leadership with recent developments including:
- 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.
- CoupaLink Partner Certification Program to Connect Customers Faster – The 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.
- Delivered Release 14 in January 2016 – This release added more than 45 features across the full application suite.
- Delivered Release 15 in May 2016 – This release added more than 45 features across the full application suite.
- Updated Embedded Actionable Analytics - Expanded embedded dashboards and analytic capabilities provide big data visibility across expense reports, contracts, accounts payable and purchasing.
- 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 is meeting demand by continually incorporating customer feedback and industry leading innovations into its unified cloud-based spend management suite. This includes updates across the corporate purchasing, sourcing, invoicing, open business network, travel and expense management, and inventory suite. Coupa works with any ERP system such as SAP, Oracle, NetSuite, Workday and Microsoft Dynamics (Great Plains, NAV, etc) to provide organizations with the measurable value long lacking in cloud spend management.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
 Gartner "Magic Quadrant for P2P Suites" by Deborah R Wilson, Paolo Malinverno, Magnus Bergfors, and Desere Edwards. June 13, 2016.
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.