Coupa Gears Up for Inspire ’15
Anna Barnett 22 May 2015Over the past several months, PayStream has observed that among the solution providers we follow, several are taking usability to an entirely new level. The development focus is shifting: it’s no longer WHAT a solution solves, but HOW the stakeholders will use it. For example, we’ve been impressed with the latest offerings from Coupa, a spend management software company that really gets the need for the “consumerization” of B2B infrastructure for invoice and procurement. PayStream’s Lead Analyst, Henry Ijams, recently sat down with Tara Ryan, Coupa’s Chief Marketing Officer. They discussed the software firm’s latest news and its signature event, Coupa Inspire, which will gather users of procurement, accounts payable, and expense management technology in San Francisco on June 2-4.
Coupa’s easy-to-use interface has a simplicity that has been missing from earlier procurement software platforms, such as SRM from SAP or iSupplier from Oracle. This simplicity puts the power of automation in the hands of mid-size and small companies, not just the largest enterprises that can afford to hire specialists to develop, learn, and maintain new technology. In other words, robust solutions are coming to the masses.
Coupa’s software handles everything from the tactical to the strategic: procurement, invoicing, travel and expense management, sourcing, inventory, contracts, budgets, analytics, and storefront operations—all connected to an open business network. Working with Coupa’s software is a bit like using Google: the user can just type the item they want to purchase into a search bar. The software searches vendor catalogs, a company’s own punch-out catalogs, and even the Internet to come up with the best prices, and it alerts the user to what they have permission to buy according to their internal rules.
This process is all based on cloud technology, meaning customers can plug into it quickly and continue using it even while Coupa implements changes and updates on the fly. This model makes sense today, when companies are being challenged to stay nimble and don’t have time for a three-year ramp up on new tech projects. Quicker implementation means faster return on investment. Everyone wants improvements and savings now, and Coupa can deliver just that.
“Three years is a lifetime in spend management solutions,” Ryan told Henry. “ERP-delivered solutions with the army of solutions’ integrators just don’t work anymore.”
Coupa’s software can be used to source virtually any type of purchase. Tara likes to mention some of the wide range of products clients have purchased, including tiger cages, specialty mice for an alligator, prosthetic human limbs, Red Hot Chili Peppers and Metallica concerts, Super Bowl ads, and an appearance by hockey legend, Wayne Gretzky. The system also allows purchases at any time and by any employee: a janitorial manager can buy cleaning supplies when they’re needed instead of when someone has time to approve the process.
Coupa’s acquisition in February of ZenPurchase and its collaboration technology for procurement teams further solidified Coupa’s commitment to shortening the buying cycle and simplifying the process for both buyers and suppliers. Coupa has also made headlines with other strategic alliances, including a partnership with IBM, and in early May, the company landed a big fish when American Express Global Business Travel announced it will use Coupa’s P2P technology, including Coupa Expenses, for its overall spend management.
What’s special ingredients are in store for Coupa Inspire? Tara wasn’t able to share all the secrets, but the company has plans to unveil more on the Real Math of Success. Time to sharpen your pencils on ROI calculations for spend and invoice automation.
P.S. PayStream’s annual INNOVATE Purchase-to-Pay conference in New Orleans on September 13-16, will feature a keynote from William “Bill” Cooper, the Chief Procurement Officer from the University of California system. Bill’s keynote highlights the importance of user engagement in the transformation of purchasing from a transactional to a strategic function.
