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In today’s business landscape, corporate expenses are not much different than such leaks, slowly draining the financial integrity of an organization. An expense manager always tries to plug these expense holes ‘in the hull’ of its company, driven by one golden rule of minimizing spending at every step of the way. Nonetheless, even with the best interests at heart, the process seems to be ceaseless. Indeed, today, a myriad of technology-driven disruptions are coming into play to override the age-old client expense management processes. But, no matter how powerful the software is on the backend, if people hesitate to use it, organizations would not be able to save a dime. As for the expense managers, they only have one question: “What value does a digitally-enhanced spend management system bring to the company if we cannot grasp its complex functionalities?”
The harsh resounding reply is, “Nothing.” But, Coupa Software, a renowned provider of spend management solutions, upturns that despair for companies around the world. For users of Coupa’s business spend management (BSM) platform, purchasing products and services is as simple as buying food and clothes on online shopping sites like Amazon and eBay. With an easy-to-use interface, the employees are less likely to manage spends elsewhere. Coupa brings complete visibility into the spending process and enables its clients to achieve significant savings without having to face the hurdles of an unfamiliar procurement system.
“The primary goal Coupa is to give businesses an effortless way of managing procurement, invoicing, and expenses, thus empowering them to bring all their spending under one umbrella”
Effortless and Unified Spend Management
The primary goal Coupa is to give businesses an effortless way of managing procurement, invoicing, and expenses, thus empowering them to bring all their spending under one umbrella. For long, organizations have relied on outmoded solutions like spreadsheets and other siloed software for tracking corporate purchases. However, the varying purchasing methods and disconnected expense filing make it impossible for companies to track their expenditure and achieve their expected savings. To liberate business organizations from such constraints, Coupa transforms the spend management process by consolidating all procurement processes into one easy-to-use cloud platform. The BSM platform is challenging the status quo around the standard purchasing approaches by bringing greater visibility into corporate spend management.
The successes of Coupa are not only attributed to its superior spend management solutions but also the experienced leadership at its helm that believes in supporting its employees rather than managing them
Helping Companies Spend Smarter in Times of Business Uncertainty
At its core, Coupa’s BSM platform is built on one of the company’s central principles: ‘transparency and honesty are the foundations of trust.’ Through a spirit of openness, Coupa fosters a strong basis for collaborations. The company works closely with market leading vendors who share its vision to further extend the functionalities of spend management, even during times of business uncertainty. Backed by a leadership that is open to innovation and change, Coupa believes that the best ideas come from its customers. These values not only make the clients a part of Coupa’s business processes and inculcate trust in them but also benefit from the entire procurement sector by opening the door to a novel thought process.
Propelling Customers with Tailwinds of Success
Like the sails of the ship, Coupa’s solutions serve as key drivers in propelling its clients toward unprecedented savings. For the company, it is all about delivering the best business value for its customers. It is not the low investments or the increased savings, but rather, it is the ability to expand and upgrade the offering according to client requirements that make Coupa an invaluable partner. As a firm believer in mutually beneficial collaboration, the company ensures the highest level of customer experience. The exponential business growth achieved by Coupa over the last few years serves as a proof of its mutually empowering relationship with all stakeholders, including the end-users of its solutions.
That being said, an effective procurement process is not only about savings, but also about checking the right boxes when it comes to financial compliance. As per Coupa, employees need efficient processes that can make their jobs easier, and executives need flexible departments that can adapt to the changing trends. Similarly, businesses need transparent and controllable solutions to ensure financial compliance.
Procurement Information at the Fingertips
Coupa’s BSM platform is powered by a strategic mix of dynamic approval chains and ubiquitous mobile access. The benefits of the software are clearly visible across Coupa’s various client engagements. In an instance, Coupa had worked with a renowned healthcare company that dealt in post-acute care. For a long time, the company had no control over 60 percent of their expenditure. The users would look at the conventional profit and loss statement to infer the expenses of the previous month. At this juncture, the management decided that they needed a robust solution that was not only intuitive and simple but also provided the required financial information at any time. There was only one solution that fits this bill, and that was Coupa. With a native iPad and iPhone app, as well as an option for email approvals, Coupa quickly became popular with users in the company. Soon, the client was able to optimize their purchase decisions and significantly lower the expenditure. As an added advantage, Coupa’s platform was hosted in the cloud. The integration saved over 75 percent of the time, not to mention the additional expense. With Coupa’s procurement platform in place, the client was able to gain complete visibility and control over their expenses, thus achieving unprecedented savings in the coming months.
Setting the Trends for Tomorrow
The successes of Coupa are not only attributed to its superior spend management solutions but also the experienced leadership at its helm that believes in supporting its employees rather than managing them. Every member of the team comes from a different background, bringing a trove of rich knowledge and experiences into the company. Driven by this expertise, Coupa is empowering its employees to yield superior results and strive for excellence. Besides, as a company that is positioned to be an industry leader by global research and advisory firms based on its strong innovation and profound market understanding, Coupa is aiming to reach even greater heights by continuously enhancing its development processes. Steering ahead, the company will augment the spend management solutions according to the dynamic business requirements.
Alongside, the Coupa is also taking an active part in the current happenings around the world. As such, the outbreak of the COVID-19 pandemic has had a devastating impact on business operations. Today, organizations everywhere are scrambling to adapt to the changing landscape. Given the volatile state of the global economic climate, businesses need to tightly control their spending over the coming months. Against such a backdrop, Coupa is taking upon itself to help businesses gain complete control over their spending and aid a firm in achieving its economic stability.