Continuing to drive value through Business Spend Management for global organizations
SAN MATEO, Calif., Nov. 30, 2022 /PRNewswire/ -- Coupa Software (NASDAQ: COUP) today announced that it has been named a Leader in the 2022 Gartner Magic Quadrant for Procure-to-Pay Suites* for the seventh consecutive time. For a complimentary copy of the 2022 Gartner Magic Quadrant for Procure-to-Pay Suites, click here.
The report evaluated 16 procurement management vendors across 15 types of evaluation criteria and positioned Coupa in the Leaders quadrant and placed it furthest for Completeness of Vision and highest on Ability to Execute.
"It's an immense honor to be continuously recognized by Gartner in Procure-to-Pay (P2P) Suites. We believe this is a huge validation of the customer-focused innovations we've co-created with our Business Spend Management (BSM) community," said Raja Hammoud, Executive Vice President of Products at Coupa. "With mounting economic volatility, it's more critical than ever for companies to have visibility and control of every dollar they spend. They also have to ensure compliance, and reduce risk and fraud."
"Coupa's BSM Platform brings together powerful technologies to connect teams and deliver new levels of performance and purpose. And with the real-time insights from nearly $4 trillion in aggregated business spend, our customers are empowered with community-driven prescriptions that accelerate their success," Hammoud said.
Kantar is the world's leading data, insights, and consulting company providing insights and actionable recommendations to clients worldwide. In 2019, Bain Capital purchased a majority stake in Kantar from WPP. With that transition, the business needed to build out its own standalone procurement organization to deliver greater value to the business.
"One of our objectives while shaping the procurement organization at Kantar has been to build on the use of data to guide our procurement and sourcing strategies, which ultimately lead to our selection of Coupa," said Stephen Day, Chief Procurement Officer for Kantar. "The results so far have been impressive. We now use our data to ensure better visibility into who we're doing business with, which we've linked to our sourcing strategy. We set a target that by 2025 we want 12.5% of our spend going through measurable, diverse, and inclusive suppliers and, thanks to our data, we are already over halfway to achieving this goal, helping us to drive real impact."
Coupa continues to innovate across its foundational procure-to-pay solution, as well as developing integrations across the platform to help organizations improve their end-to-end procurement processes.
Major capabilities of the Coupa Procure-to-Pay solution include:
- Unified Spend Management Processes: Guide employees through the buying process by alerting them to discounted pricing via seamless connection to contracts, multiple options for electronic invoicing, real-time supplier risk alerts, immediate analysis of spend, and much more.
- Intelligent Fraud Detection: Manage risk more efficiently and effectively by leveraging the latest AI and ML to detect errors and flag fraudulent activity automatically across all business spend with Spend Guard.
- Compliant Invoicing: Keep up with changing regulations while managing suppliers across borders with Coupa's Compliance-as-a-Service (CaaS).
- Seamless Payments: Automate reconciliation and easily manage all payments to suppliers, employees, subsidiaries, and other beneficiaries with Coupa P2P.
- Prescriptive Insights: Take advantage of collective community insights and connections to get the best prices, drive more efficiencies, and improve operational performance by leveraging over $4T in spend data across Coupa's platform using AI.
- Ecosystem of Partners: Make Coupa the hub of any business's spend management operations through pre-built and certified partnerships with hundreds of third-party companies including payment partners, suppliers, and technology partners.
Get started with Coupa today. Visit coupa.com.
*Gartner, Magic Quadrant for Procure-to-Pay Suites, By Micky Keck, Lynne Phelan, Balaji Abbabatulla, Patrick Connaughton, Published 28 November 2022.
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About Coupa Software
Coupa is the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions. Coupa empowers organizations around the world to maximize value and operationalize purpose through their business spend. Learn more at coupa.com and follow us on LinkedIn and Twitter.
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