- Coupa introduced a handful of AI-powered product enhancements this week.
- The updates will assist Coupa shoppers leverage their knowledge to simplify workflows, save time, and enhance collaboration.
- The updates will go reside subsequent month for choose Coupa shoppers.
Spend administration platform Coupa introduced its new product enhancements this week. The California-based firm lately unveiled greater than a dozen improvements that it says will assist firms create efficiencies, enhance productiveness, and liberate their staff to work on extra essential duties.
Coupa was based in 2006 to supply companies spend administration options that assist them view and management their oblique spending. A few of the firm’s enterprise spend administration instruments embody e-invoicing, journey and expense administration, spend evaluation, treasury administration, and extra. Since launch, Coupa has created an AI-driven platform that helps companies leverage their knowledge by extracting insights, simplifying workflows, and bettering collaboration with out requiring new code or change administration.
“Our aim to be a margin multiplier for each enterprise giant and small worldwide requires a relentless give attention to co-innovation with our prospects. As market dynamics proceed to shift and working capital turns into extra restricted, firms are trying to find extra methods to drive worthwhile, sustainable progress. Coupa’s main complete spend administration platform underpinned by our community-generated AI provides prospects predictive insights, prescriptive selections, and automatic actions wanted to drive smarter and extra worthwhile selections,” mentioned Fang Chang, Chief Product Officer, Coupa. “By changing archaic processes with Coupa’s AI-driven options, companies will run extra effectively, develop extra successfully, and function extra confidently.”
The 4 main enhancements the corporate unveiled embody:
- Coupa Navi, which goals to extend productiveness by serving to prospects discover doc standing and approvals quicker, speed up requests, and entry Navi’s data base for fast solutions to questions.
- Contract Intelligence, which gives prospects with risk-informed clause suggestions that may assist scale back publicity to potential points. The device additionally provides generative AI-generated authorized settlement summaries.
- The Coupa Benefit Market, which provides companies fast entry to items from a variety of suppliers. Coupa’s market provides pre-negotiated charges and monetary advantages and helps groups establish financial savings alternatives and enhance visibility into their spending.
- Service Maestro helps prospects create, view, and handle contingent employee data and assignments.
The updates can be obtainable to pick out prospects beginning in September.
“Our September launch, and every of our product releases, drives the Coupa platform ahead so our prospects can attain their formidable objectives,” mentioned Chang. “We proceed to spend money on new and highly effective AI use circumstances, which provides our prospects a disproportionate benefit to attaining top-line progress and bottom-line efficiency beneficial properties.”
Coupa went public in 2016 and was acquired by Thoma Bravo for $8 billion in 2022. Earlier this month, Coupa partnered with communications platform RingCentral, which deployed Coupa to enhance its spend and enterprise operations.
Picture by Nataliya Vaitkevich
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