Spend Matters Analysis: Our research suggests that Coupa is the fastest growing P2P or eProcurement vendor in the market based on its rate of both enterprise and middle market customer acquisition. On a net customer basis, Coupa appears to be growing faster than Ariba across the same product lines. Readers should note that Coupa is achieving this despite competing against Ariba, which has a commercial team (sales, sales support, etc.) that is over ten times as large. One of Coupa’s secret to its success stems from its “opinionated” approach to procurement. Its user interface is like nothing else in the market. Coupa not only makes shopping and compliance easy, it can capture a larger portion of spend than any other eProcurement tool based on its ability to sit on top of other solutions – e.g., VMS, direct purchasing, etc. Indeed, Coupa’s entire cloud-based solution can sit on top of other external tools/sites/services (e.g., Amazon) or internal systems (e.g., ERP/MRP, VMS or even another indirect system) to serve as a front-end interface to capture all purchases. Granted, the level of detail companies will capture for certain categories will be different than for others and Coupa is clearly not a replacement for other systems (other than indirect eProcurement tools). But the ability to drive all buying through a single front-end platform is unique.
From a usability perspective, Coupa is second to none. In the latest release, Coupa has completely reconfigured their homepage to now include, in their words, to-do list capability “for users to review pertinent information and take immediate action to approve, reject or hide purchase requests or expense reports with a single click.” They’ve also enhanced search and browsing capability on a category-by-category level to drive compliance to the proper supplier and the contracted price. This is based on a new multi-level commodity structure. The new search features present both structured and unstructured information (some of it gathered via external sites at the point of query) to both guide users to the right supplier and also to serve as a real-time reality check on external pricing.
In summary, Coupa’s P2P approach is not only clever – it’s ingenious. They should be on every P2P shortlist for small and giant companies alike.
Sponsor Description: Coupa is the leading provider of cloud spend management (CSM) solutions that help companies control their indirect spending and generate savings that go direct to the bottom line. Coupa combines the best e-procurement and expense management capabilities in a single solution that is easier to use, faster to configure and deploy, and more cost-effective than anything available today. With deep domain knowledge in e-procurement and expense management, a best-in-class cloud computing platform, a fast-growing community of customers, and industry-first innovations like real-time benchmarking, intelligent expense report auditing, and crowd sourcing great deals on the Web, Coupa is leading the way in helping companies spend smarter and save more.
Spend Matters Analysis: