Coupa Software [NASDAQ: COUP]: Contract Management Made Easy

Coupa Software [NASDAQ: COUP]: Contract Management Made Easy

Rob Bernshteyn, CEO, Coupa SoftwareRob Bernshteyn, CEO
With the numerous contracts piling up day-by-day, government agencies requires innovative solutions for managing contracts efficiently, allowing savings and improving automation with flexibility. This is where the San Mateo, CA based Coupa Software comes in, allowing to completely automate the contract management process. Founded in 2006, Coupa software’s solution integrates and digitalizes contracts within the procure-to-pay process. “Coupa has a very successful record in helping government manage contracts and reduce costs,” adds Rob Bernshteyn, CEO, Coupa.

Built on a true cloud platform, Coupa can be seamlessly configured depending on the agencies’ requirements with minimal integration procedures. In addition, the solution designed focusing on the end user, comes with a really convenient as well as intuitive user interface. It allows agencies to seamlessly implement processes including invoicing, procurement, and expense management, maximizing efficiency as well as savings. For seamless management of government contracts, Coupa offers centralized management where all the contracts are securely stored in a single location. The solution also features an expiration alert system that notifies the user when any contracts are about to expire. Furthermore, Coupa offers visibility allowing users understand spend against the contracts and purchase orders.

The firm’s procure-to-pay applications are widely used across several government entities including hospitals, military, Ministry of Foreign Affairs and the Defense Ministry, leveraging discounts from the various suppliers network. With Coupa’s intuitive interface, user adoption increases significantly. Coupa provides a suite of true cloud applications for finance services, including expense management, and procurement.

Coupa has a very successful record in helping government manage contracts and reduce costs

It enables customers to launch the solution immediately and quickly, thus realizing significant savings within a short time period.

Coupa’s solutions are not just limited to procure-to-pay applications. Their range of solutions includes ERP, Life Cycle Management tools, Budgeting, Analytics, and Open Business Network, serving Healthcare, Financial, Retail, and Technology industries. Today, Coupa suite of cloud applications are used by more than 350 customers in 40 countries to amplify their spend power and reduce spending costs.

With their deep expertise in offering the best-in-class e-invoicing, e-procurement, and expense management on the cloud computing platform, and industry-first innovations like real-time benchmarking, intelligent expense report auditing, and crowd sourcing, Coupa is leading the way in helping government spend smarter and save better. In one instance, the government of Colombia planned a strategy of framework agreements to make the public procurement process more efficient. With a targeted savings of $1 billion, the government chose Coupa. Coupa’s procure-to-pay application allowed the Colombia Compra Eficiente (CCE) ease-of-use, scalability, and best-in-class cloud technology. Now the strategy of framework agreements led by CCE makes the public procurement process better effective, delivering the government of Colombia improved compliance, control, and visibility over its spending across all government entities. “We’re delighted that CCE is using Coupa to eliminate waste and improve efficiencies for the entire Colombian government,” says Bernshteyn.

Coupa focuses to offer more efficient solutions, allowing governments improve their procurement process and enhance controls over spending. Coupa also plans to complete various deals with government agencies to increase usage counts within the next few years. The firm has a singular focus with real measurable customer success. Hundreds of visionary companies worldwide leverage Coupa’s innovations to generate meaningful and measurable value.