SAN MATEO, Calif., Jan. 24, 2017 (GLOBE NEWSWIRE) -- Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, today announced Coupa Release 17 (R17), its first major cloud platform update of the year. R17 gives customers comprehensive data-driven insights to help them accelerate decision-making and improve business results. The insights leverage the data network effects of the Coupa platform’s B2B spend under management to help customers gain more value and spend smarter.
“Customers seek big data solutions that deliver B2B insights and benchmarks to drive business decisions,” said R "Ray" Wang, principal analyst, founder and chairman of Constellation Research, Inc. “Only forward thinking providers with clear data acquisition strategies and large data warehouses are able to deliver these types of powerful data network effects. Cloud providers have an advantage over on-premises solutions in innovation and flexibility.”
The release also expands global regulatory compliance, enhances supplier collaboration, and adds new capabilities across the entire Coupa platform from travel and expense management to sourcing, e-invoicing, inventory, and more.
“We value Coupa’s focus on continued rapid innovation. This in turn enables us to effect ongoing improvements in our procure-to-pay and spend management processes,” said James Bargerbos, Coupa Administrator at Ausdrill Limited. “We have been involved in the Coupa Community and advisory boards and we are pleased to see our feedback incorporated in Release 17.”
As with every Coupa platform update, R17 was designed with a collaborative and innovative approach that involved customer ideas and feedback through the active Coupa Community and Coupa Advisory Boards. The R17 platform update became available just four months after Coupa’s R16 release in September 2016.
Release 17 includes:
Perfect Fit Insights (Early Access Program Only) – A new unified application in the Coupa cloud platform for business spend. This market-differentiated solution delivers cross-customer savings, efficiency, and adoption metrics to help organizations track and measure key performance metrics inclusive of customer specific goals, trends and category leader indexes. The application provides actionable recommendations for making specific business improvements. Perfect Fit Insights is currently being made available to select customers in an Early Access Program.
Expanded Regulatory Compliance – As government regulations change, the Coupa platform changes with them. This release adds country-specific invoicing templates for Australia, Belgium, Czech Republic, Singapore, Slovakia, Spain, and Poland.
Enhanced Supplier Collaboration – Connecting businesses is an important aspect of the Coupa Open Business NetworkTM which includes more than two million connected suppliers globally. Release 17 makes it easier than ever for organizations to collaborate by:
extending the window for sharing information with bidders and answering supplier questions following the end of sourcing events and
adding SMS text message alerts so suppliers can get immediate updates for cross platform capabilities such as purchase orders, invoice payments, catalog updates, and supplier information management updates. These SMS text message alerts continue to redefine B2B supplier networks by proactively delivering real-time updates to suppliers of all sizes instead of requiring a network login to check status. This new SMS capability adds to existing supplier alerts via email.
Additional System Administrator Functionalty – The Coupa platform can be configured to meet many organizational needs without slow and expensive custom development. R17 extends configurability in areas such as additional settings for customer branding, new approval chain conditions, and mandatory e-invoicing field options. System administrators also now have enhanced travel and expense delegation management via file upload and integration.
“Since 2006, Coupa has been laser focused on building a cloud platform that captures global B2B spend data covering areas such as procurement, travel and expense management, and invoicing,” said Donna Wilczek, vice president strategy and product marketing at Coupa. “Release 17 is simply the start of how we will leverage these data network effects to deliver actionable B2B insights unavailable elsewhere.”
This release includes forward-looking statements. All statements other than statements of historical facts, including the quotations and statements regarding the capabilities of our platform and Release 17, are forward-looking statements. These forward-looking statements are based on Coupa’s current expectations and projections about future events and trends that Coupa believes may affect its financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs.
These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially, including that if our platform, including Release 17, fails to perform properly, our reputation could be adversely affected, our market share could decline and we could be subject to liability claims. These and other risks and uncertainties that could affect Coupa’s future results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Coupa’s quarterly report on Form 10-Q filed with the SEC on December 9, 2016, which is available at www.investors.coupa.com and on the SEC’s website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings Coupa makes with the SEC from time to time.
The forward-looking statements in this release reflect Coupa’s expectations as of the date hereof. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
About Coupa Software Coupa Software (NASDAQ:COUP) is the cloud platform for business spend. We deliver “Value as a Service” by helping our customers maximize their spend under management, achieve significant cost savings and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations representing the Americas, EMEA, and APAC with millions of suppliers globally. The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
Orlando De Bruce
Global Public Relations
O (650) 485-8629