San Francisco — Coupa Software, the leading provider of cloud spend management solutions, today announced its plans to make collecting and managing supplier data faster, easier, and less expensive than is currently possible with legacy solutions while improving compliance, data quality, and supplier participation. Coupa's Supplier Information Management (SIM) application is expected to be generally available later this year, however select customers are invited to join an early access program where they can start trying it out now, and provide feedback to Coupa before general release.
“Our customers have made it clear to us that they are looking to Coupa to help them consolidate their financial applications and reduce the costs of doing business with their direct and indirect suppliers,” said Raja Hammoud, Coupa vice president product marketing and management. “We're excited to rapidly incorporate customer feedback and plan to release an enhanced product by the end of this year.”
Coupa's Supplier Information Management is designed to use the power of the Coupa suite to make information gathering simple and ensure information remains current. For example, one feature of Coupa's SIM enables suppliers to receive an alert in the context of a transaction – purchase orders, e-invoices, etc., – reminding them that critical supplier information is needed before the transaction can be completed. Additionally, Coupa's Open Business Network facilitates these business-to-business transactions without requiring suppliers to pay fees to participate, and without forcing them to create an account or remember a password. This helps remove unwanted friction in collecting information and provides the right incentives at the right time for suppliers, resulting in the highest rates of supplier participation, collaboration, and information sharing.
Customers using Coupa Supplier Information Management can configure many supplier data collection templates so they can tailor forms to specific supplier segments (i.e. by country, commodity, tier, strategic importance, etc.). Details, such as financial information, disclosures and diversity certifications, tax forms, and contact information can be reviewed seamlessly within the Coupa platform, and features like duplicate supplier checks and inactivity alerts help maintain data accuracy and integrity.
Additionally, Coupa's SIM leverages the Coupa Platform to provide out-of-the-box supplier dashboards with summarized views of sourcing events, contracts, purchase orders, and invoices. This allows category managers to view supplier information and transaction summaries together, so they can quickly understand the complete source-to-pay (S2P) picture for each and every supplier.
Existing customers interested in joining the early access program are encouraged to contact their Coupa Success Manager.
Coupa works with any ERP system such as SAP, Oracle, NetSuite, Workday or Great Plains to provide businesses with the measurable results long lacking in cloud spend management; every person that touches Coupa experiences a solution that increases B2B efficiency and drives profitability.