[May 24, 2016] |
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Customer Growth Drives Revenue at Coupa
Coupa Software, a leader in cloud-based spend management, announced
today that more of the world's largest brands have deployed Coupa
because they are increasingly recognizing the value of managing their
spend to achieve real, measurable business success with software that
reflects consumer-driven innovations.
Since the company's inception, customers have used Coupa's platform to
bring more than $200 billion of cumulative spend under management, which
Coupa estimates has resulted in more than $7 billion of customer savings
to date, based on applying certain savings rates derived from industry
benchmarks. This customer success helped propel Coupa to more than $100
million of billings last year and has helped Coupa grow revenue by more
than 60 percent year over year.
Coupa has recently signed up some of the world's largest brands
representing a cross-section of sectors that view simplicity and
flexibility as critical to achieving full software adoption across
employees and suppliers alike. These global companies include:
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one of the world's largest manufacturing companies ($75B+ USD annual
revenue)
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one of the world's largest banking and financial services companies
($35B+ USD annual revenue)
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one of the world's largest industrial services companies ($15B+ USD
annual revenue)
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one of the world's largest banking and financial services companies
($10B+ USD annual revenue)
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one of the world's largest healthcare and life science companies
($10B+ USD annual revenue)
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one of the world's largest manufacturing companies ($35B+ USD annual
revenue)
To meet the evolving product and technology needs of today's global
enterprises, Coupa also enhanced its cloud platform with the unveiling
of Release 14 in January 2016 and the availability of Release 15 in May
2016. Additional product enhancements include the launch of a new API
certification program to connect Coupa customers' faster, the expansion
of embedded dashboards and analytic capabilities to provide big data
visibility, and the modernization of Coupa's contract lifecycle
management product. In January 2016, Coupa announced the acquisition of
Vancouver, Canada-based Contractually to help businesses streamline the
way they manage contract lifecycles, by reducing human error and
increasing efficiency.
"I am proud of the value we are able to create with all our customers:
small, medium and large. But there are no secrets to the success that
our customers are having. It is the result of our joint clarity of
purpose, focus on results, and commitment to continuous improvement,"
said Rob Bernshteyn, CEO of Coupa. "Our company's momentum reflects an
objective that is woven into the DNA at Coupa, which is to provide our
customers with the industry's best solutions that add value to their
bottom line by driving measurable and quantifiable outcomes."
In May 2016, Coupa hosted a record number of customers, partners,
prospects and employees during its annual Inspire conference held at the
Westin St. Francis in San Francisco's Union Square. Inspire is one of
the fastest growing spend management industry events in the world.
During the conference, Coupa's Bernshteyn hosted Sir Richard Branson,
Founder of the Virgin Group, and his son, Sam Branson, a social
entrepreneur, filmmaker and adventurer, as featured speakers in an
exclusive keynote.
Bernshteyn also released to attendees at Inspire advanced copies of his
forthcoming book on Value-as-a-Service, which is scheduled for official
release in August 2016. Bernshteyn's book examines how businesses are
rapidly gravitating towards products that provide a quantifiable value
to customers.
Coupa's Recent Business Highlights:
Customers Recognize Coupa's Value at Industry Events
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Top global customers that spoke about Coupa this year at Inspire
and other industry events include: Airbus, Sanofi, The Global
Fund, Swiss Re, BAE Systems (News - Alert), H&R Block, Bank of Montreal, ENGIE
UK, McKinsey & Company, Greif, Inc., MIT University, New Orleans
College Prep, Mallinckrodt Pharmaceuticals, Deloitte Canada, Woodward,
Inc, Pilot Thomas Logistics, Uber, Ausdrill Limited, and Box (News - Alert).
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Some of Coupa's new customer wins include Pacifix, TOMS Shoes, World
Vision Canada, and Glassdoor. Recent go-live customers include Wacom
and Forest City Enterprises.
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These customers join industry-leading companies such as Juniper
Networks, American Express Global Business Travel, Salesforce.com (News - Alert), and
XPO Logistics, Inc.
Known for One of the World's Largest Business Networks
Received Top-Tier Industry Awards for Global Leadership
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Coupa was recognized for its continued rapid growth by being named the Hottest
Emerging B2B Software Business in Europe by an
executive recruiting firm in London based on an annualsurvey of
business leaders working in the enterprise software market.
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Coupa also was selected as a Red
Herring Top 100 Global Winner, which recognizes the leading
private companies from North America, Europe, and Asia, celebrating
their innovations and technologies across their respective industries.
These awards add to Coupa's impressive list of industry awards and
evidence the measurable success that Coupa generates for its customers.
Continue to Differentiate Coupa with Comprehensive Product Roll Out
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CoupaLink
Partner Certification Program to Connect Customers Faster -
Coupa's open API platform is widely used by customers around the globe
and currently averages more than 80 million API calls per month. The
CoupaLink Partner Certification Program provides customers access to a
larger set of software partners that can connect third-party
applications to the Coupa platform faster than ever before.
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Added
Collaborative Authoring to Modernize Contract Lifecycle Management - Coupa announced
the general availability of its Contract Collaboration module, a new
unified application within its spend management platform. The new
module adds significant new functionality to Coupa's existing contract
management capabilities to help improve productivity, decrease risk
and increase contract compliance.
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Delivered
Release 14 in January 2016 - This release added more
than 45 features across the full application suite. The update
provided more sourcing control, extended global e-invoice compliance
and added customer top-voted features across the Coupa application
suite and Coupa Open Business Network™.
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Delivered
Release 15 in May 2016 - This release added more than
45 features across the full application suite. Some of the features
were hyperlocalized languages with Suggest-A-Translation (patent
pending) which provides new levels of cloud
personalization where end users can suggest a translation (to meet the
unique business vocabulary) and the administrator can apply to their
cloud instance in real-time. Leading edge innovation from Coupa.
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Updated
Embedded Actionable Analytics: Expanded embedded dashboards
and analytic capabilities provide big data visibility across expense
reports, contracts, accounts payable and purchasing. This is an
analytics layer that allows you to drill into the individual
transactions and act on those transactions. One unified system.
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Announced
InvoiceSmash Early Access Program - Coupa announced its
plans to release an application that will help make processing
supplier invoices faster, easier, and less expensive than is currently
possible with legacy optical character recognition (OCR) solutions,
while also improving compliance, data quality and supplier
participation. Coupa's InvoiceSmash application is expected to be
generally available later this year, however select customers are
invited to join the early access program where they can now start
using it in production, and provide feedback to Coupa before the
general availability release.
Solidified Leadership with formation of Coupa's Executive Advisory
Board, Strategic Partnerships and Expansion of Coupa Advantage
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Coupa formed a new Executive
Advisory Board (EAB) comprised of top business leaders from
various industries that will rethink how companies can raise profits
and reduce costs with cloud-based spend management. The EAB's goal is
to transform how enterprises manage their spending while achieving
improved employee productivity and contract compliance in the new
digital economy.
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Announced
Sabre and Coupa Agreement - Sabre Corporation (NASDAQ: SABR), the
leading technology provider to the global travel industry, and Coupa
Software, a leader in cloud-based spend management, announced an
agreement that will allow industry leading corporations using Sabre's
GetThere online booking solution to seamlessly integrate booking data
to Coupa's cloud-based expense management solution.
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Announced
Armanino and Coupa Agreement - Armanino, one of the largest
Microsoft (News - Alert) Dynamics and Intacct Partners in the U.S., and a provider of
audit, tax, consulting services and technology services, announced the
firm will become a value added reseller for Coupa Software, a leader
in cloud-based spend management solutions. Armanino and Coupa have
worked together on successful client engagements for the past year.
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Thirty partners sponsored Coupa's Inspire '16, one of the fastest
growing spend management industry events in the world. Platinum
Sponsors include KPMG and Deloitte (News - Alert) and Gold Sponsors include IBM,
AMEX, Accenture and The Shelby Group.
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More than 50 charities have received contributions from the Coupa
Advantage program. In 2016, Coupa Advantage has significantly
expanded its member base with more than 160 customer-supplier
relationships now in place. Also additional donations were made to
charities, including to Big Change which is a charity supported by
Branson.
Honored Individual Customers for Exemplifying Collaborative Leadership
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Announced
Coupa Community Champion: James Bargerbos of Ausdrill Limited. The
champion award is presented to a customer that most embodied the
spirit of Coupa's principle of the Power of We - where none of us is
as smart as all of us working together. The principle encourages
collaboration among peers, across industries and across geographical
boundaries to work together to improve the overall spend management
industry.
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Presented three customers with an inaugural MVP
award for exemplifying attributes in the workplace that are
aligned with Coupa's core
values. Coupa employees were tasked with nominating customers they
believe embodied Coupa's core values and deserved recognition as a
"Most Valuable Player" in three categories: ensuring success, focusing
on results and committing to excellence.
About Coupa Software
Coupa Software, a leader in cloud-based spend management, enables
businesses everywhere to recognize bottom-line financial success via
Value-as-a-Service. Customers - small, medium and large - representing
the Americas, EMEA, and APAC rely on Coupa to support business agility
and reduce costs. Only Coupa provides an organic suite of true cloud
spend management applications, including invoicing, procurement, expense
management, sourcing and inventory, allowing customers to realize a
return on investment that can start within a few months and grow
continually. Learn more at www.coupa.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160524005686/en/
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