Coupa Software: Integrating Contracts into Business Processes

Maintaining contracts, keeping track of contract costs, and executing contracts via regular mail have been some of the major pain points in every contract lifecycle. Narrowing down these issues, San Mateo, CA based Coupa Software is seamlessly integrating contacts in an organization’s business processes. Coupa Contracts, the company’s proprietary contract management solution allows an organization to realize savings by complying with what was negotiated. Simply put forth by Rob Bernshteyn, CEO, Coupa Software, “With Coupa Contracts, there are no more paper contracts and everything’s electronic and enforced in real-time.” Founded in 2006, Coupa Software provides transformational business solutions assisting organizations to gain visibility into purchase orders, spend and total savings over a contract’s lifecycle. From healthcare, retail, financial services, and even to food and beverage, Coupa have leveraged its solution to different industries.

Coupa’s platform helps clients in realizing savings with proactive contract management and the enforcement of contracts at the time of purchase by giving discounts as negotiated. Organizations can store purchasing contracts in a central repository in cloud allowing everyone in the organization to find them at any given time. The solution also allows customers to 'save as they spend'—enforcing contracts centrally, routing all spends through more favorable, pre-negotiated contracts. To manage and optimize the inventory levels, real-time tracking visibility is also incorporated in Coupa Contracts. Critical alerts can also be set up to get automatic notifications for important contract management tasks keeping one updated with key milestones and developments before they occur. Additionally, expenses can be quickly created and approved through devices such as the camera, voice, and even emails.

In addition, CIOs can easily manage the contract throughout its lifecycle and receive alerts to always renew contracts on time. “Coupa acts like Dropbox for all of your contracts, with secure access so people will only see what they’re supposed to see,” explains Bernshteyn.