How Coupa is Unlocking Savings for Procurement Teams
Brands across the globe have been able to unlock US$194bn in bottom-line savings, boosting their business growth. With Coupa’s growing community of 10 million suppliers and US$6tn in economic spend, through its community-generated AI, helping make margins multiply.
Coupa, the margin multiplier company, has helped over 3,000 global customers achieve more than US$194bn in savings that could be reinvested to fuel business growth, with over US$12bn in bottom-line savings in the last quarter alone.
"With Coupa, we've been able to digitise and standardise processes across finance and procurement teams,” says Shaun Carroll, Group Director of MSS and Chief Procurement Officer, Mitie.
“We have access to real-time data, giving us better control and visibility of which businesses we are transacting with, and we're able to provide more strategic support to the business.
“Coupa's helped us realise US$18.97m in savings and is being used to support Mitie’s target to reach operating profit margins of 4.5-5.5% in the near term."
Coupa community highlights for the fiscal quarter include:
In the last quarter, Coupa has seen over 300 global businesses initiate or expand their partnership with Coupa, including Abnormal Security, Sendas Distribuidora S/A, BayCare Clinic, Changan Ford, Grand America Resorts, Lexicon, Marshall Motor Group, Northern Illinois Food Bank, ORIC Pharmaceuticals, and Paragonix Technologies.
Coupa has seen 20 customers among Gartner’s newly released Global Supply Chain Top 25.
Over 4,000 people from over 40 countries attended Coupa’s flagship community events, Inspire Americas and EMEA. Attendees heard stories from over 200+ customers, including leading brands such as Aldi, Barclays, Cisco, HSBC, Mitie, Microsoft, Mastercard, Schneider Electric, and Uber – all of which are leveraging Coupa for productivity, efficiency, sustainability, growth, and margin improvements across their businesses.
Coupa’s Spendsetter of the Year was awarded to Schneider Electric during the annual Spendsetter Awards. Eight other companies were also honoured as category winners for their excellence and innovation.
10 Global Executive Summits kick off this summer, with one-day events taking place in cities all over the world. These events see finance and procurement leaders connect to obtain insights from Coupa experts and customers on topics such as the value of a margin multiplier, a total spend management platform, community-generated AI, industry benchmarking, ESG, and more.
Coupa also released its latest 2024 Total Spend Management Benchmark Report. This provides CFOs, alongside their procurement and finance teams, with vital actionable insights and productivity benchmarks based on Coupa community performance. These documents give leaders the information on how they measure up against their peers and provide details on how best to optimise their business processes.
Coupa also launched over 110 new product capabilities and features, with a particular focus on AI and GenAI, including Coupa Navi, an AI agent that provides real-time support and guidance to help teams make smarter and more profitable business decisions. Additional new AI-driven product innovations included solutions for Contract Intelligence, Purchase Order (PO) Collaboration, and Forecast Collaboration.
Becoming exponentially smarter together
“In the past quarter, more than 1 billion actions were taken by customers using Coupa AI on our platform,” adds Leagh Turner, Coupa CEO.
“Coupa’s evolution as the margin multiplier company is being fuelled by the multiplier effect our AI drives for our global customer community every single day. Our customers have been leveraging Coupa’s community-generated AI for years to outperform and drive more growth, resiliency, sustainability, efficiency, and productivity.
“We had over 300 companies expand or initiate their relationship with Coupa in the last quarter. We’re honoured and proud to be partnering with, and growing with, so many leading brands to help them transform their operations and truly thrive in this complex global economy.
“Today our dataset represents more than US$6tn in global economic spend across a growing network of 10 million buyers and suppliers. As our community grows, our data grows and our AI gets smarter, with all of us becoming exponentially smarter together."
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