Published by Ariadni Pereira on January 23, 2012
Bernshteyn to explore cloud considerations for CFOs in spotlight session
2012 CFO Leadership Forum (San Francisco)
SAN MATEO, Calif. – Coupa Software, the leading provider of innovative cloud spend optimization software that enables customers to reduce expenses and maximize profitability, today announced that CEO Rob Bernshteyn will be a spotlight speaker at the 2012 CFO Leadership Forum in San Francisco. Presented by Argyle Executive Forum, the 2012 CFO Leadership Forum is designed to bring together leading CFOs, treasurers, VPs of finance, controllers and corporate finance leaders from a variety of industry verticals to discuss best practices and innovative finance strategies in a discussion-based format.
Conference date: January 26, 2012
Spotlight topic: Cloud Considerations for the CFO
Spotlight date and time: January 26, 2012 at 12:05 p.m. PT
Location: Undisclosed, San Francisco (only registrants will receive details on meeting location)
As CEO of Coupa, Bernshteyn will be discussing what CFOs need to consider when making cloud choices for their companies. He will touch on the types of cloud options, how they impact the CFO’s role, as well as advice on saving in the cloud. Bernshteyn will also discuss the benefits of spend management for any company and demonstrate how using the cloud, specifically Coupa’s cloud-based platform, will help companies quantify performance, increase ROI and reduce overall spend.
Coupa’s cloud-based platform lets companies manage spend and generate savings that go directly to the bottom line.
About Coupa Software
Founded in 2006, Coupa Software is the leader in cloud-based spend optimization software. More than 200 customers in 40 countries use Coupa purchasing and procurement software to amplify their spend power and reduce spending costs up to 11 percent. Only Coupa provides a true cloud procurement application that enables customers to launch the solution rapidly and quickly realize significant savings. Learn more at: www.coupa.com or call 650.931.3200.Read more at our company blog, the Coupa Cabana, or follow @Coupa on Twitter.
Published by Ariadni Pereira on January 17, 2012
Triple-digit Revenue Growth in FY2011 Highlights Demand
For Cloud-based e-Procurement Software
SAN MATEO, Calif. – January 17, 2012 – Coupa Software, the leading provider of innovative cloud spend optimization software that enables customers to reduce expenses and maximize profitability, today announced record-breaking sales, customer acquisitions and usage for fiscal year 2011.
2011 was another banner year for Coupa, with tremendous growth across the board in revenue, customers, spend under management and global expansion. 2011 revenues increased by more than 120 percent while users of the software also rose 100 percent.
“We are thrilled with our record revenue and customer growth,” said Rob Bernshteyn, CEO of Coupa. “It validates that the procurement and finance industries need a cloud-based solution that delivers real measurable results like Coupa does. In 2012, our customers will continue to inspire us to develop tools that help them spend responsibly.”
“The rapid adoption of Coupa in the market is indicative of how enterprises are embracing the cloud to get quick time-to-value from their applications,” said Constantine G. Limberakis, senior research analyst at the Aberdeen Group. “Coupa is a breath of fresh air for companies looking for an alternative to traditional procurement and expense management platforms that require long implementation times and extensive training. Essentially, Coupa has cracked the code on usability based on a walk-up user interface approach. I view this as a major reason for their accelerated growth and continued success.”
“We needed clear visibility into our spend and procure-to-pay processes,” said Matthew O’Malley, Procurement & Sourcing manager, Journal Communications. “We selected Coupa from an exhaustive list of providers because Coupa is the only procurement solution that makes it simple for our employees to use while providing clear visibility into our spend and processes.”
Key highlights from Coupa’s fiscal 2011 include:
- Revenue: FY2011 revenue grew by more than 120 percent during FY2010, maintaining Coupa’s lead as one of the fastest-growing cloud software providers.
- Annual Contract Value: Coupa’s new annual contract value has increased sequentially for the past 12 quarters, proving the accelerating demand for its innovative cloud spend management offering.
- Customer Transactions: Coupa enjoyed accelerated customer growth as enterprises worldwide rushed to adopt an easy-to-deploy cloud procurement solution instead of traditional enterprise applications such as Ariba, Oracle and SAP. Total subscription sales transactions for 2011 totaled 152, with a healthy mix of new customers and add-on seats or modules.
- 2011 customer highlights included: Subway/IPC, Home Retail Group, Molina Healthcare, BNP Paribas, Ministry Health Care, Colliers International, B&H Photo, Savient Pharmaceuticals, Universal Music Group, Endo Pharmaceuticals and many others.
- A Q4 customer highlight was Toyota Motor Sales U.S.A., Inc. (TMS) subscribing to Coupa’s spend management platform after a rigorous selection process. TMS selected Coupa because of its superior usability and scalability, prerequisites for ensuring wide adoption and spend under management. Coupa’s culture and bold vision in the spend management space was also a key reason that TMS wanted to engage in a long-term results-oriented business relationship.
- Usage: Spend through the Coupa Cloud Spend Management platform grew at a rate of 150 percent year over year, with the Smarter Expense Management module adoption alone growing at more than 900 percent.
- Renewals: Coupa reported strong customer loyalty, as evidenced by its greater than 90 percent subscription renewal rate.
- Adoption and Usage: Active users of the Coupa cloud software grew by approximately 100 percent, proving ease of use and value.
- Global Reach: Coupa added 10 new languages to the platform, supporting the numerous global deals completed in the second half of 2011. Additionally, Coupa expanded its global presence with new offices in the United Kingdom.
- Employees: Coupa experienced massive expansion in 2011 to meet the growing demand for its solution worldwide. The company relocated to larger headquarters in San Mateo, California to accommodate its 100 percent employee growth rate.
- Product Expansion: In 2011, Coupa unveiled numerous product announcements. The most significant were the Coupa Spring ’11 release, introducing customers to new features and advancements, and the Coupa Spend Optimizer, which offers advanced spend analytics for everyone across organizations, including finance, line of business and procurement, to maximize their spend power with easy-to-access reports.
About Coupa Software
Founded in 2006, Coupa Software is the leader in cloud-based spend optimization software. Over 200 customers in 40 countries use Coupa purchasing and procurement software to amplify their spend power and reduce spending costs up to 11%. Only Coupa provides a true cloud procurement application that enables customers to launch the solution rapidly and quickly realize significant savings. Learn more at: http://www.coupa.com or call 650.931.3200.
Published by Tony Wessels on December 16, 2011
We know about the dusty little secret that companies grapple with on a daily basis — The process for buying products and services – whether you call it e-procurement or spend management – is broken at most companies.
But Coupa is a 5 year old company with over 200 customers. We’re growing like mad. We’re disrupting (also like mad). Still, we’re the new guy. On the other hand, IBM has been around for 100 years, has 426,751 employees and revenue of $99.9 billion (now there’s a number that begs to be rounded off).
So when IBM decides to invest in the space called spend management, it delivers a form of validation that companies need help managing their spend, and recognition that the old way – hello Ariba – simply doesn’t work. Sure, we already know this because we’re continually displacing Ariba and see this trend only gaining momentum in the coming year. To borrow from Johnny Depp in Pirates of the Caribbean, “we’re traveling full speed with the wind in our sails.”
But again, now we have IBM saying we’re changing course in how we address this problem to ensure we’re in the best position to pursue a $20 billion opportunity as scoped in the IBM news release. In fact, Business Insider’s headline for the story was “IBM Plants Stake in a $20 Billion Market With Its Latest Buy.”
At this point, you might be thinking, how will Coupa compete against IBM in the e-procurement arena?
That’s the beauty of the Emptoris acquisition. It’s synergistic with Coupa. We’ve had a relationship with Emptoris for some time (highlighted in the Gartner report on e-procurement) and have teamed with the company on a number of deals. The combination of Emptoris (analytics for procurement) + Coupa (engine for procurement) + IBM services makes for a compelling value proposition.
That’s why we’re feeling the joy as begets the holiday season.
Published by Ashish Deshpande on November 17, 2011
Coupa recently announced the launch of our Spend Optimizer Tool. Our philosophy behind our offering is to provide line of business owners information when they need it (accessible), information that is clean (accurate), and information that can be utilized to make real business decisions (actionable). By leveraging Coupa’s vision on spend management and our best in class data model, we are able to provide our line of business users with insightful information from our Spend Optimizer tool. Along with Coupa’s own data, we have the capability to bring in data from external systems to ‘mashup’ with Coupa’s data to allow organizations to quickly gain insight into data that they never had before!
Published by Tony Wessels on November 15, 2011
New Advanced Spend Analytics offering gives organizations immediate access to spend intelligence for rapid spend management improvement
SAN MATEO, Calif. – Coupa Software, the leading provider of Cloud Spend Management, today announced Coupa Spend Optimizer, an advanced spend analytics solution that helps users make better spend management decisions. Through Coupa Spend Optimizer, customers have unprecedented access to robust spend management business intelligence without the headache of expensive and difficult deployments common in the spend analytics industry. The reporting platform provides intuitive graphical dashboards and charts making it easy for customers to analyze complex data and improve their spend management.
Coupa Spend Optimizer rounds out the suite of reporting tools available in Coupa’s Cloud Spend Management solution. Coupa’s current reporting capabilities include transaction reporting, executive dashboards, and peer benchmark reporting.
Coupa Spend Optimizer dashboard reports and alerts provide insight into contract management, percent of spend under management, workflow efficiency analysis, and cash management analysis to name a few.
Improved Access: With Coupa Spend Optimizer, Coupa brings ease-of-use to the world of spend intelligence by making business-critical information accessible to everyone who needs it, from procurement and finance professionals as well as line of business managers.
Coupa Spend Optimizer also provides access to information from other parts of the organization such as multiple ERP or HR systems. By aggregating and normalizing this information with Coupa spend data, customers have unparalleled visibility of spend across their entire organization.
Easily Accessible: Traditionally advanced spend intelligence reporting has been the domain of only advanced users and IT organizations who hold the keys to the company’s data. Weeks and months can pass until the business users receive the reports they require. With Coupa Spend Optimizer, customers have this information at their fingertips through intuitive graphical dashboards and reports that are self-generated. They no longer have to wait for quarterly or monthly reports from legacy systems, or need to pull together dozens of dated spreadsheet files.
Better Accuracy: Business can trust the accuracy of Coupa Spend Optimizer reporting because it is built on the foundation of the Coupa’s native eProcurement data model. Coupa automatically normalizes data upon entry and reduces errors of miscategorized spend. Additionally data is also normalized and cleansed upon import from external ERP and HR systems before entering the Coupa Spend Optimizer.
Actionable Value: Coupa Spend Optimizer provides timely, spend-relevant information that helps users deliver a measurable impact on reducing organizational spend. Unlike common ERP systems, Coupa Spend Optimizer goes beyond generic financial reporting to alert users and suggest actions that would help the company reduce spend. Of course, there is also the ability to drill deep into underlying information with the click of the mouse.
“We’re enthusiastic about Coupa Spend Analytics,” said Darrel Kalbfleisch, Director at the Archdiocese of St. Louis. “Being the largest Archdiocese in Missouri, our spending is spread over thousands of users in hundreds of different organizations. Coupa Spend Analytics provides us sophisticated, business-level reporting beyond transactional information. It’s this business intelligence that helps us make key decisions that drive more efficiency and cost reduction across our many constituencies.”
“We’re excited to redefine the spend analytics market with this new innovative offering. Until now, advanced spend intelligence required a great deal of lengthy manual intervention to aggregate and often did not easily get into the hands of the people that needed it most. Coupa Spend Optimizer ensures that everyone from procurement, to finance, to line of business users can have the real-time spend insights they need to improve their spend practices and drive bottom line value,” said Rob Bernshteyn, CEO, Coupa.
About Coupa Software
Coupa is the leading on-demand provider of solutions that control and streamline purchasing and expense management for organizations large and small. Coupa Cloud Spend Management delivers an easy to use, fast to deploy and affordable solution for requisitions, expense reporting, approval management, purchase orders, RFQs, contract compliance, inventory and invoicing, with no hardware to buy or software to license. With deep domain knowledge in e-procurement, a best-in-class cloud platform, and a fast-growing community of customers doing business with over 100,000 suppliers, Coupa enables smarter spending practices that empower companies to save money quickly. For more information please visit, http://www.coupa.com or call 650.931.3200.
