Your guide to choosing the right e-procurement software
A collection of articles that takes you from defining technology needs to purchasing options
Coupa is one of the industry's leaders in e-procurement, and its software is part of the spend management suite. Coupa's spend management suite is made up of 10 different cloud applications that are pre-integrated so organizations can pick and choose which ones fit their needs most during the procure-to-pay process.
What are the applications offered in Coupa's spend management suite?
The Coupa Procurement System is set up to help organizations and its employees save time and money with consumer e-commerce shopping. According to the company, the Coupa Procurement System was created with users at the forefront, which helps with interaction with suppliers and invoices, allowing employees to get whatever item or service they are looking for.
In Coupa's spend management suite, procurement is the base application, but the other components also may address companies' needs. In addition to procurement functionality, Coupa also offers invoicing, expenses, sourcing, inventory, contract lifecycle management, budgets, analytics, open business network and storefront.
Coupa's invoicing software is aimed to get rid of paper and increase savings. With features such as an Accounts Payable email inbox to communicate with suppliers and touchless invoice processing, companies can gain better working capital management and get visibility into outstanding tasks.
Coupa also offers expense management software that features business expense report automation, visibility and control of finance. This software helps users monitor spending, access business expense reports from a mobile device and more. Coupa's Sourcing Software Solution lets users and suppliers interact with e-sourcing. This allows suppliers to bid on businesses and, according to Coupa, gives companies leverage when negotiating, saving companies money.
Coupa inventory software helps automate fulfillment and manage and track inventory, lowering unneeded spending. Coupa contract lifecycle management tools also get rid of paper by making contracts digital with full contract automation -- authoring, collaborating and signing documents. Coupa Budgets also helps with spending in real-time, eliminating the need for weekly or monthly reports.
Analytics from Coupa gives users and business heads an efficient way to monitor performance on key performance indicators with role-specific dashboards, allowing organizations to see how well goals are being met. This eliminates designing and implementing a custom business intelligence system because Coupa already has it set up.
The free Open Business Network from Coupa helps connect users with suppliers of many sizes and across various industries. With thousands of suppliers already in the portal, users can almost immediately connect and start using the network. Through Coupa's Open Business Network, purchase orders can be sent from Coupa to suppliers through email, portal, commerce XML or electronic data interchange. There is also Coupa Strorefront to help with ERP procurement.
What does the Coupa Procurement System offer to aid employees?
One of the main draws that Coupa highlights about its e-procurement software is that it is aimed to assuage employees throughout the procurement process by helping them more easily obtain goods and services. Coupa also boasts that its procurement software can simplify configuration even if certain organizations' business rules are complex.
More specifically, the Coupa Procurement system is aimed to help employees with features like the Purchase Requisition software system, which helps users find items by specifically filtering the top search results to finding out pricing and discounts.
The Purchase Order Management Software Solution gives organizations leeway when sending purchase orders with automatically produced and automatically routed purchase requisitions, which are then recreated into purchase orders. According to Coupa, the e-procurement software is also extremely supplier-friendly, which, in turn, can ease the procurement process for users. Suppliers do not need to pay a fee and can quickly register with Coupa and then immediately start sending e-invoices and tracking purchase orders. With Supplier Actionable Notifications, users can not only send messages, but also let a supplier fulfill a task or send an invoice within that same message. Suppliers that aren't paperless can use Coupa as invoices that can be scanned and then keyed with Coupa's Quick-Key.
The approval process with Coupa is flexible, allowing both email and mobile approvals, and everyone in that approval chain has access to check the status of purchasing requisitions. Real-time budget management and visibility lets users know exactly where they are in the process before purchasing or approving something. According to Coupa, on average, its customers take less than one calendar day to approve a requisition.
How is Coupa's spend management suite priced and licensed?
There is no pricing or licensing information on the company's site, so those interested in Coupa Spend Management should contact Coupa directly.
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