Coupa Software (NASDAQ: COUP) today announced that it has been recognized as a Leader in the 2022 Gartner Magic Quadrant for Procure-to-Pay Suites* for the seventh consecutive year. Click here to receive a complimentary copy of the 2022 Gartner Magic Quadrant for Procure-to-Pay Suites.
The report evaluated 16 supply management vendors across 15 types of evaluation criteria and positioned Coupa in the Leaders quadrant, ranking furthest for completeness of vision and highest for the ability to execute.
“It is a great honor to be consistently recognized by Gartner for Procure-to-Pay (P2P) suites. We believe this is a great validation of the customer-centric innovations we have developed together with our Business Spend Management (BSM) community,” said Raja Hammoud, Executive Vice President of Products at Coupa. “With increasing economic volatility, it’s more important than ever for businesses to have transparency and control over every dollar spent. They also need to ensure compliance and reduce risk and fraud.”
“Coupa’s BSM platform brings together powerful technologies to connect teams and achieve new levels of performance and purpose. And with real-time insights from nearly $4 trillion in aggregate business spend, our clients are empowered with community-driven recipes that accelerate their success,” Hammoud said.”
Kantar is the world’s leading data, insights, and consulting company, providing insights and actionable recommendations to clients worldwide. In 2019, Bain Capital acquired a majority stake in Kantar from WPP. With this transition, the company needed to build its own standalone procurement organization to create greater value for the company.
“One of our goals in designing the procurement organization at Kantar was to build on the use of data to drive our sourcing and sourcing strategies, which ultimately led to our choice of Coupa,” said Stephen Day, chief procurement officer at Kantar. “The results so far are impressive. We’re now using our data to ensure a better view of who we’re doing business with, what we’ve linked to our sourcing strategy. We have set a goal for 12.5% of our spend to come from measurable, diverse and inclusive suppliers by 2025, and our data has enabled us to already be halfway there, helping us to make a real impact.”
Coupa continues to innovate in its foundational Procure-to-Pay solution and develop integrations across the platform to help companies improve their end-to-end procurement processes.
Key features of the Coupa Procure-to-Pay solution include:
Unified Spend Management Processes: Guide employees through the purchasing process by alerting them to discounted pricing via seamless connection to contracts, multiple e-invoicing options, real-time supplier risk alerts, instant spend analysis and more.
Intelligent Fraud Detection: Manage risk more efficiently and effectively by using the latest AI and ML to detect errors and automatically flag fraudulent activity across all business spend with Spend Guard.
Coupa Compliance-as-a-Service (CaaS): Keep up with changing regulations while managing suppliers across borders.
Seamless Payments: Automate reconciliation and easily manage all payments to vendors, employees, affiliates, and other beneficiaries with Coupa P2P.
Prescriptive Insights: Leverage collective community insights and connections to drive best pricing, increase efficiencies, and improve operational performance by leveraging over $4 trillion of spend data on the Coupa platform using AI.
Partner Ecosystem: Make Coupa the hub for any organization’s spend management through pre-built and certified partnerships with hundreds of third-party companies, including payment partners, suppliers, and technology partners.