Coupa – release 10 hits the market, new sourcing module and other goodies

Coupa announced the release of Coupa 10 last week, their latest upgrade to their suite of cloud based applications. There are a number of improvements, including “an entirely new sourcing application”.

It’s only a few months since they gave people a sneak peek at the new sourcing tool, but it is now fully launched as part of Coupa 10.  "Coupa Sourcing optimizes the process of selecting the best suppliers to do business with in order to save money. We've taken the tedium out of setting up and managing sourcing events and used automation to eliminate manual steps that can stand in the way of savings..."

As well as the sourcing developments, Coupa 10 includes a range of other improvements. There are neat ideas, such as ‘item labels’, which enable procurement (or others) to steer users to certain products for compliance “by ensuring they see in the top of their search results any related items with labels such as “green,” “preferred,” “generic,” etc.  Item labels are customizable and visually appealing.  Related labelled items additionally get presented to employees at check-out time to drive compliance”.

The more traditional P2P areas haven’t been neglected either, with improvements to the invoice review and approval process- not so exciting perhaps but useful if you’ve got a whole batch to approve before you can go home for the day...

My US colleague, Jason Busch, has written a much more extensive review of the release. He describes how Coupa have brought “the  invoice / accounts payable automation and e-invoicing capability to a level where it can now compete against specialists”. And he’s particularly impressed with how Coupa have shown the ability to launch a new module that is initially at an “OK” level,  but then get it up to ‘best in class’ level within 12 months.

And, as he says, they have the advantage of a truly integrated suite – something some of their major competitors still lack. They're certainly highlighting that in the context of the new sourcing module:

"Best of all, because it's a unified platform, once the event is over, when you award the winning respondent their information is automatically transferred into actionable documents. No more manual transfer points. Create a Req, catalog items and/or a contract right from the winning bidder's response so you can more easily realize savings from your events. It’s all automated so you can be on to the next event, secure in knowing that your negotiated pricing will be used for maximum savings".

If you’re interested I would strongly suggest you read all of Jason’s piece here – and there will be more to come on our subscription sites Plus and PRO shortly.

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