Coupa
Coupa provides cloud-based financial applications designed for spending management. It features procurement, invoicing, expenses, sourcing, inventory, contract, budgets, analytics, open business network, and storefront. The software can be implemented in financial service, oil and gas, food and beverage, healthcare, and retail industry. It helps to maximize your profitability and keep good relationship with your suppliers.
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Coupa Review and Overview
The modern world runs mostly over spending infrastructure. The same is the case with businesses. Contrary to individuals, businesses are more prone to extra or excess spending. Many times, it is not possible to track several expenses, many of which are mere spoofs by employees. To keep track of such extra and regular expenses, we might benefit from the expense management software.
Among such Business Spend Manager(BSM) tools, Coupa is a famous face. Formed in 2006, Coupa has genuinely managed to help many businesses. It provides various services like procurement, invoicing, spend analysis, strategic sourcing, cloud computing, and pay support with a variety of products. Coupa has been recognized in many quarters of the Gartner Report.
Coupa’s Feature for Businesses
Coupa supports a variety of industries with its services like packaging, education, energy, financial, healthcare, NGO, public sectors, etc. IT products are divided based on two categories, viz., BSM application, and Powered by BSM Platform. The BSM application act as individual packages in various categories of business spend management, whereas the latter one is a comprehensive package for the same.
Coupa Procure is their top product for business procurement. It houses features like purchase requisition, shopping with Open Buy, spend management, budgets, spend guard to protect against frauds, and centralized software for managing contacts, orders, and inventory. The Invoice Manager supports all forms of electronic invoicing, Full AP automation, Invoice Smash, global compliance & fraud guard, and lastly, coupon manager.
Coupa Expense offers better visibility of expenses and generates accurate reports and timely payrolls. It offers apps like SmarterTrip and Travel Management for intelligent and easy spend management. It also has expense reporting and compliance management and detailed report generation combined in a single interface. The Payroll product offers stress-free and timely payments to staff members and proper payment reconciliation.
Coupa Spend offers exhaustive spend analytics with reports and KPI, normalized spend reports, benchmarks, and suggestions too. Strategic Sourcing finds new candidates with automatic alerts, manages the spend data, conducts routine sourcing events, uses advanced mathematical optimization, connect sourcing & purchasing. The other product, namely Contract & Supplier Management, and Contingent Workforce, are also great.
Overall, the BSM features of Coupa are one of the most advanced and user-friendly in the market. The pricing of BSM packages also seems feasible. Thanks to their services, it has 700+ clients across the globe, with big guns like Nike, Slack, Coca-Cola, Subway, etc.
