Driving operational efficiency and robust
compliance for the office of the CFO with Coupa community-generated
AI
FOSTER
CITY, Calif., July 29,
2024 /PRNewswire/ -- Coupa, the margin
multiplier company, has been positioned in the Leaders category in
both the Enterprise and Mid-Market IDC MarketScape for Worldwide
SaaS and Cloud-Enabled Mid-Market Accounts Payable Management
Software Market 2024 vendor assessment (Doc #US52378624e,
July 2024).
The IDC MarketScape for Mid-Market Accounts Payable Management
named Coupa as a Leader. This is the third time Coupa has been
named a Leader.
"As higher costs and volatility impact the availability of
operating capital to fuel business growth, fast-growing companies
are turning to automation and AI to help them scale their processes
and savings," said Fang Chang, Chief Product Officer at Coupa.
"With the Coupa platform, our customers are using community data to
boost productivity and efficiency. Best-in-class customers have
improved touchless invoicing, with 83% of invoices being processed
digitally and a 97% first-time match rate. Our automated controls
increase compliance and optimize payment timing, freeing up
accounts payable (AP) teams for high-value work."
The IDC MarketScape for Mid-Market Accounts Payable Management
Software found Coupa's AI-driven platform as a key strength. The
report states, "AI is embedded across all aspects of the platform
with support for fraud detection, working capital
management, invoice cycle acceleration, and more. With data
collected from over 10 million suppliers and over $6 trillion in transactions, Coupa AI offers
enhanced insights, supplier performance ratings, easier supplier
onboarding, enhanced benchmarking, and more."
Thumbtack is a technology company helping millions of people
confidently care for and improve their homes. Bringing the
$600 billion home services industry
online, Thumbtack provides homeowners with personalized guidance on
what to do, when to do it, and who to hire. As a growth-stage tech
startup, Thumbtack turned to Coupa for compliance and control while
empowering its employees and suppliers.
"Coupa helped us transform accounts payable (AP) and build out
our procurement function. It upleveled our AP and procurement
processes, which in turn enabled the business to be more compliant
and accountable while allowing us to move quickly and focus on
hypergrowth," said Coreen Riley,
Assistant Controller at Thumbtack. "With the productivity and
efficiency gains from seamless automation and touchless processing,
we can do more with less, allowing our team to scale and save."
Coupa's AP automation solution suite includes invoicing, digital
payments, fraud detection, expense management, and
compliance, which helps finance teams by:
- Enabling productivity and efficiency: Touchless
invoicing with 2-way and 3-way matching and built-in approval
workflows saves time, allowing teams to optimize early pay
discounts and strengthen supplier relationships.
- Delivering full visibility: Gain real-time visibility
into how cash moves throughout your entire organization to
streamline accruals, optimize cash flow, and take control of
spending.
- Ensuring compliance: Enable an operating framework that
meets regulatory and audit requirements for public and private
companies with a modern approval, expense, payments, and compliance
infrastructure.
"We believe this recognition from the IDC MarketScape is a
testament to the value our total spend management platform brings
to businesses looking to transform the office of the CFO and
finance processes. Our solution helps break down silos across the
business, connecting AP and finance teams to the procurement and
supply chain functions, helping teams to run more efficiently and
effectively," added Chang.
For a complimentary excerpt copy of the report, click here.
Additional Information
- Read the report blog
- Watch the demo about transforming your AP automation
- Download the AP automation and payments guide for resilience,
growth, and compliance
About Coupa
Coupa makes margins multiply through its
community-generated AI and industry leading total spend management
platform for businesses large and small. Coupa AI is informed by
trillions of dollars of direct and indirect spend data across a
global network of 10M+ buyers and suppliers. We empower you with
the ability to predict, prescribe, and automate smarter, more
profitable business decisions to improve operating margins. Coupa
is the margin multiplier company™. Learn more at coupa.com and
follow us on LinkedIn and X (Twitter).
About IDC MarketScape
IDC MarketScape vendor analysis
model is designed to provide an overview of the competitive fitness
of ICT (information and communications technology) suppliers in a
given market. The research methodology utilizes a rigorous scoring
methodology based on both qualitative and quantitative criteria
that results in a single graphical illustration of each vendor's
position within a given market. IDC MarketScape provides a clear
framework in which the product and service offerings, capabilities
and strategies, and current and future market success factors of IT
and telecommunications vendors can be meaningfully compared. The
framework also provides technology buyers with a 360-degree
assessment of the strengths and weaknesses of current and
prospective vendors.
"IDC, MarketScape for Worldwide SaaS and Cloud-Enabled
Mid-Market Accounts Payable Management Software Market 2024, Doc
#US52378624e, July 2024"
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SOURCE Coupa Software