COUPA SOFTWARE INCORPORATED

(COUP)
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Delayed Nasdaq  -  04:00 2022-07-06 pm EDT
61.38 USD   -3.73%
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Blue dot Certified as Coupa Business Spend Management Platform Ready

05/10/2022 | 07:02am EDT

WALTHAM, Mass., May 10, 2022 (GLOBE NEWSWIRE) -- Blue dot, a leader in tax compliance, remittance, and automation through artificial intelligence (AI), today announced it will offer its seamless data integrity, value added tax (VAT) and fringe benefit solutions in the Coupa App Marketplace, connecting businesses with certified, pre-built solutions. Coupa Software (NASDAQ: COUP) certified Blue dot for use within the Coupa Business Spend Management (BSM) platform, a cloud-based platform that empowers companies around the world with the visibility and control they need to make smarter spending decisions.

Blue dot’s platform will be woven into the Coupa BSM platform and will be initially integrated into the Coupa Expense platform, automating tax reporting on two business-critical areas — fringe benefit tax reporting and VAT recovery and compliance. Businesses have had a difficult time maintaining tax compliance while managing employee expenditure rules in recent years due to a fundamental shift toward a distributed workforce. Coupa Expense clients will now have access to seamless data integrity, VAT recovery, and fringe benefit tax reporting thanks to a new relationship with Blue dot.

“We are pleased to welcome Blue dot as the latest addition to Coupa’s global business spend management community,” said Nigel Pegg, vice president and general manager of Coupa App Marketplace and CoupaLink. “Especially with the policy changes over the last year for VAT reporting and employee fringe benefit reporting, the Blue dot platform’s emphasis on automation is an appealing addition that will be of great value to our users.”

As a certified CoupaLink solution, the Blue dot VAT Recovery & Fringe Benefit Reporting solution meets the requirements established by Coupa through its CoupaLink Partner Program and is available in the Coupa App Marketplace. The CoupaLink Partner Program enables software partners to build complementary solutions that easily connect into the Coupa platform. Customers benefit by discovering and connecting solutions to optimize their business spend and reducing business risk while reducing the cost of third-party software integration.

"With Blue dot’s new integration into Coupa’s new Travel and Expense solution, the company is showing that they understand the needs of the B2B consumers and are telegraphing the future trends in the expense software market," said Kevin Permenter, research director, Financial Applications, at IDC. "By applying Blue dot’s technology across Coupa’s T&E platform, Blue dot will be well-positioned to identify new ways for organizations to simultaneously maximize VAT recovery while also reducing the risk surrounding fringe benefit management and reporting on employee spend."

“With a platform that offers compliance reporting in both VAT and fringe benefit, Blue dot is positioned to address the new working norm in the post-COVID world. Blue dot has a laser focus on automating fringe benefit reporting and VAT recovery that is well-suited to a swiftly changing tax landscape,” said Isaac Saft, founder and CEO of Blue dot. “We are proud to be part of the Coupa App Marketplace and a trusted CoupaLink technology partner. We look forward to our relationship with Coupa to further help customers transform their VAT recovery and fringe benefit tax reporting.”

For more information on Blue dot and how it can help you process Fringe Benefits to be reported and eligible VAT to be recovered visit the Coupa App Marketplace at marketplace.coupa.com.

Coupa, Coupa Business Spend Management (BSM), CoupaLink, and all Coupa logos are trademarks or registered trademarks of Coupa Software, Inc. All rights reserved.

About Blue dot
Founded in 2013, Blue dot is a market pioneer in the tax tech arena, having developed the first technology-based and dynamically updated financial platform for employee-driven transactions in the market. The Blue dot tax compliance platform harnesses digitization, tax compliance and automation to process and analyze a company's employee spend data for value-added tax and taxable employee benefits in real time. As a privately held company, Blue dot's technological breakthrough has raised more than $100M in private equity funding and attracted a large portfolio of Fortune 500 clients. Blue dot is fully dedicated to providing its clients with value, not only in terms of process savings and ROI, but especially in the peace of mind that comes from full compliance. For more information visit www.bluedotcorp.com.

Blue dot Media Contact:
Mitchell Schneider, Director of Global Marketing
Mitchell.Schneider@bluedotcorp.com


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Source: Blue dot

2022 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2023 841 M - -
Net income 2023 -381 M - -
Net Debt 2023 1 275 M - -
P/E ratio 2023 -12,3x
Yield 2023 -
Capitalization 4 637 M 4 637 M -
EV / Sales 2023 7,03x
EV / Sales 2024 5,53x
Nbr of Employees 3 076
Free-Float 99,4%
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Average target price 85,30 $
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Robert Roman Bernshteyn Chairman, President & Chief Executive Officer
Anthony Tiscornia Chief Financial Officer
Roger Kopfmann Executive Vice President-Operations
Scott Thompson Independent Director
Roger S. Siboni Lead Independent Director
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