Coupa product overview
Coupa’s unified business spend management (BSM) platform provides capabilities for everyone in the company, power users, and suppliers to conduct all business spend activities in one place. It is a cloud-based suite of applications that enables business spending optimization from end to end.
Coupa’s platform, with all transactions processed on one code line and all applications pre-integrated, gives end-users, customers, admins, and IT teams the flexibility necessary for success. It empowers companies around the world with the visibility and control to spend smarter and safer. Coupa has features for procurement, invoicing, expenses, sourcing, inventory, contract lifecycle management, budgets, and analytics.
Pros of Coupa
- Coupa’s integrated solution allows organizations to see all their spend in one location, from purchasing to invoicing to expenses.
- The platform has a spend analysis tool that lets users create new reports and dashboards with its drag-and-drop editor. These reports and dashboards deliver insights into spending without the need for higher-level technical and business intelligence skills.
Cons of Coupa
- Coupa’s onboarding may take time depending on an organization’s prior experiences with this kind of tool.
Breakdown of core features
With Coupa’s company-wide adoption, organizations achieve full visibility and control while saving employees valuable time. The platform’s procurement feature simplifies purchase requisition and order processes and tracks them in real-time to get the most pre-approved spend flowing through the system. Coupa’s Source-to-Pay provides a modern procurement design experience to ease adoption for every employee and supplier to create maximized value.
Supply chain design and planning
Coupa allows businesses to run a resilient and agile supply chain with the help of a comprehensive data model and powerful AI. Companies can democratize the power of intelligent supply chain decisions across the enterprise. Additionally, users can utilize Coupa’s digital twin functionality by visualizing the current supply chain while using advanced algorithms to model the future. The software has a straightforward modeling workflow and a cloud platform that facilitates rapid time-to-value for continuous modeling needs.
The software’s invoicing feature streamlines accounts payable and improves the cash flow. It equips AP departments with efficient, accurate, and timely e-invoicing processing and adds strategic value to the business. Coupa’s Source-to-Pay solutions also increase operational efficiency by digitizing manual processes. The system automatically pays and bills matched invoices to the correct expense accounts to reduce the cost-per-invoice.
Travel and expense management
Coupa offers an end-to-end T&E that drives value beyond basic expense processing. It identifies savings, ensures end-to-end control, and scales with growing organizations. With this software, companies can see all T&E spend—both before and after expenses are incurred—to control costs and reduce spend leakages wherever opportunities exist. Coupa’s T&E management feature automates time-consuming, manual tasks to give the finance team and employees more time to focus on the initiatives that matter.
(Last updated on 10/11/2021 by Liz Laurente-Ticong)