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Coupa Business Spend Index Reveals that Business Spend Sentiment is Improving, but Remains Below TrendSAN MATEO, Calif., Nov. 19, 2020 /PRNewswire/ -- Today, Coupa Software (NASDAQ: COUP) published the findings from its Business Spend Index (BSI), Q4 2020 Outlook. The Coupa BSI analyzes billions of dollars of aggregated and anonymized business spend decisions across Coupa's platform, often serving as an early indicator of macroeconomic health over the next three to six months. The Q4 Outlook shows that business spend sentiment improved over the prior quarter (an increase of 6 percent), but overall confidence is still well below trend. Following a quarter of modest improvement in corporate spending, the Coupa BSI suggests that businesses are continuing to adjust to the new normal and are beginning to return to pre-COVID spending levels, albeit at a slower rate than in the prior quarter. Though still cautious about the global economic outlook, businesses are spending more in areas related to remote work, such as technology, shipping and freight, and contingent workforce support. Data from the past quarter shows the following year-over-year changes in business spending:
"The Coupa BSI Q4 Outlook indicates that business spend sentiment is continuing to recover from its sharp drop in Q1 as companies grow increasingly comfortable operating in the new normal," said Jeff Collins, chief economist at Coupa. "However, despite the positive adjustments made by companies in most majorsectors, our analysis shows that confidence in the economy is still low and is likely to remain below trend for at least the next three to six months." What to Expect in the Coming Months
To view the Coupa BSI Q4 2020 Outlook in its entirety, visit www.spendindex.com. Disclaimer: The findings of the BSI are not necessarily indicative of trends happening with Coupa's business. The Coupa BSI Methodology The Coupa BSI is normalized to a baseline value of 100, which represents the weighted composite value of the three components in the baseline reference period (July 2016). The weighting methodology is periodically updated based on recalibration of the model. This was most recently done for Q4 2020. About Coupa Software View original content to download multimedia:http://www.prnewswire.com/news-releases/coupa-business-spend-index-reveals-that-business-spend-sentiment-is-improving-but-remains-below-trend-301176528.html SOURCE Coupa Software |