Coupa Software, a provider of cloud-based spend optimization software, recently announced the launch of Coupa Release 8, which includes major enhancements to the Coupa platform, mobility enhancements and two new core capabilities: Coupa Smarter Contracts and Coupa Invoicing. These updates give customers further insight into their overall spend, so they can reduce costs and directly impact the bottom line.
“Our relentless customer focus means that we’re continually innovating and enhancing our platform to bring efficiency and savings to organizations and their finance departments,” said Rob Bernshteyn, CEO of Coupa. “Since the majority of our customers are those at the front lines – managing accounts payable, responsible for procurement and working with procurement-related contracts – we took their feedback earnestly and developed Coupa Release 8 to deliver on their needs.”
The first new capability, Coupa Smarter Contracts, helps customers realize savings from negotiated volume, find out how much they’re spending against a contract and ensure their spend is within their budget. It enforces negotiated prices at the time of requisition, automatically tracks spend and savings, and alerts customers to critical commitment timelines. It was organically developed on the Coupa platform and is thus fully pre-integrated with the rest of the Coupa suite.
The second capability, Coupa Invoicing, supports customers who want to eliminate paper invoices completely, avoid late payments due to errors or loss of service and improve operational efficiency. It effectively manages invoicing through supplier self-service and smart approval workflows. It too was organically developed on the Coupa platform and is thus fully pre-integrated with the rest of the Coupa suite.
Additionally, Coupa Release 8 comprises significant enhancements to mobility and expense management features, including the ability to create expenses on the road and import itineraries from the well-known, mobile travel organizer, TripIt®, directly into Coupa, which significantly decreases the amount of time spent on expensing and approving travel.
Click here to read the entire Coupa press release and learn more about Coupa’s Smarter Contracts.
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