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.
Coupa acts like Dropbox for all of your contracts, with secure access so people will only see what they’re supposed to see
Alongside, Coupa Software also delivers industry leading procurement applications offering an easy consumer like shopping experience. Each module of Coupa platform is connected to one another thereby making the user-interface uncomplicated. Furthermore, the company provides a set of applications that strategically extends the spend management functions needed to the customers’ ERP, bringing agility as well as enabling business stakeholder satisfaction.
“Usability is the fundamental hypothesis behind Coupa. By creating a frictionless user interface that shifts procurement from push to pull, people naturally gravitate towards our system to find an easy way to do their jobs,” remarks Bernshteyn. Targeting to expand their operations across Europe, Asia and Latin America, Coupa has already commenced hosting other applications like reverse auctioning, advanced spend analytics, along with strategies to improve relationship management.