Coupa Acquires Xpenser, Gains Expanded Mobile/Capture T&E Capabilities

Earlier this morning, Coupa announced it acquired Xpenser, an independent T&E vendor with particular expertise in the mobile information capture of expenses. We’ll be talking to Xpenser’s CEO later today at Coupa Inspire (Coupa’s customer conference) and will provide additional analysis after this discussion, but in the meantime, here are some of the highlights of the acquisition announcement:

Transaction Background and Context

  • Acquisition valuation / terms were not announced (and Xpenser’s revenue was not disclosed)
  • There is product overlap between the solution capabilities between Coupa and Expenser
  • The acquisition marks Coupa’s first (and potentially raises questions about the integrated suite, single platform strategy Coupa has pursued to date). We expect to get answers to this later today, but we share our hypothesis on this (below)
  • The handful of Coupa customers (at Coupa Inspire) I spoke with about the news were not familiar with Xpenser prior to the announcement

Xpenser Product Features / Capabilities

  • Xpenser has developed apps “for the iPhone, Android, and WebOS devices” to capture expenses, manage and submit them for approval
  • As with Coupa’s own T&E tool (and certain others), receipts and line detail can be forwarded/pushed into the application by email or direct integration with third-party feeds; Xpenser appears more flexible than others, however. For example, users can send expenses in via email, SMS, instant messaging tools and voice sources and then can “use the Web interface to edit and finalize or export them”
  • Xpenser includes time tracking (in addition to miles, expenses, taxes, etc.)
  • Like Coupa and other T&E tools, Xpenser lets user define approval flows and workflow; Xpenser also lets administrators define context-dependent policies
  • Xpenser takes an open approach to integration, publishing its own APIs and developing on them itself

It’s our working hypothesis that Coupa will keep developing its home-grown expense management (T&E) capability on its own integrated platform with Xpenser input , but will leverage the integration features, APIs and framework of Xpenser for mobile and other integration. We’ll answer this question and others after talking to the Xpenser and Coupa teams later today.

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