Three members of the Spend Matters team (Sydney Lazarus, Lisa Whalen, and Jason Busch) are at the Coupa One Vision Roadshow in Chicago today. Chicago is one of nine stops on the 2013 tour. The turnout is bigger than last year – and represents a solid audience turnout for a regional event. Roughly 70-75 people are in the room. I’m presenting last today, offering up both an historical look at P2P and a forward-looking vision (the talk is titled: P2P: From “Model T” Fundamentals to “Beam Me Up” Advancements).
Sydney and I will be covering the event live throughout this morning and early afternoon. The morning started with Rob Bernshteyn sharing his perspective on the sector just getting going, despite a somewhat long history with limited P2P adoption. In the standard “up and to the right” type charts, Rob shared the following Coupa numbers:
- 100% increase in bookings (year over year)
- 95% renewal rate (current)
- 250% usage (year over year – note, “usage” was not defined)
- 350+ customers (current customer count)
Perhaps more interesting than the numbers (Note: we always treat vendor reported numbers, until we’ve had time to interrogate the methodology for determining them, with a wink and a nod) is how Coupa is positioning what it does now is as providing a “Unified Suite of Finance Applications” [emphasis mine]. In Coupa’s words, these are three areas: procurement, invoices, and expenses (which are enabled by integration, budgets, sourcing, reports, analytics, catalogs, contracts, and suppliers).
This movement away from positioning “procurement” or “Spend Management” front and center represents a prediction that Spend Matters first shared in 2010. To wit: finance would eventually manage oversight of transactional (and related) procurement tools. Is Coupa ahead of the trend here in this repositioning of P2P tools as an extension of finance’s goals in controlling and managing expenditures? Perhaps, but we’ll continue to explore this topic in our coming coverage.