Breaking News! Coupa Extending CLM Capability with Exari Acquisition

Business spend management giant Coupa Software has just announced its intention to acquire contract lifecycle management (CLM) leader Exari. Exari, founded in 1999, is a SolutioMap top-ranked advanced CLM solution provider used extensively by legal, finance and procurement organisations. It enables businesses to manage the entire contract lifecycle, from contract request, creation and approval to negotiation, signature capture, and optimisation with compliance built-in.

It is US-headquartered from Boston (HQ) and Chicago, and has support locations in London and Newbury UK; Oslo and Bergen, Norway; Munich, Germany; Melbourne, Australia. Its approaching-300 customers around the globe include some big-name firms like Credit Suisse, StatOil, Deloitte, PwC, Lloyds, Dow Jones, and Uber.

Spend Matters said this of Exari towards the end of last year:

“Exari is an ideal fit for legal-led CLM selection processes where increasing ‘contract certainty’ and reducing contract risk are top considerations. Exari’s capabilities are an ideal match with organizations that have complexity in their business, including commercial risk (e.g., regulatory risk, asset intensive industries, firms that buy complex services). It is also stands out in situations where a business has a large quantity of contracts and limited resources to manage them…” And stated its outstanding features as contract modelling, contract creation, authoring and collaboration, and contract analytics. Read that here.

Today’s press release states: “Exari will extend Coupa’s existing contract management capabilities and reinforce Coupa’s strategy of providing market-leading power-user applications that maximize the value of the core transactional spend captured in the Coupa BSM Platform.”

And Coupa chairman and CEO Rob Bernshteyn emphasised that: “Today, billions of dollars of buy-side transactional spend are processed against contracts stored in Coupa … By unifying Exari’s advanced CLM capabilities with this transactional spend, we will enable companies to further decrease maverick spend, drive more savings, reduce risk, and spend smarter. This acquisition will further cement our leadership position in business spend management and our commitment to deliver measurable business value.”

Exari CEO, said Bill Hewitt, said: “Understanding contract exposure and opportunities is increasingly a board issue as companies struggle to effectively manage compliance and business risks … As part of Coupa, we will be able to provide companies around the globe with a world-class CLM solution as an integral part of their overall business spend management strategy.”

Earlier this year our analyst, Pierre Mitchell, talking about Coupa Contract Management, noted that the Coupa offering primarily is to “manage commercial commitments related to spend within a broader spend management framework, with an emphasis on data integration and value via usability/adoption. Although the Contract Management solution is just another module to purchase and fire up within a broader suite, contracts are becoming increasingly important to manage S2P and provide the linchpin between Coupa’s strength in downstream P2P and the more strategic upstream applications.”

Upon hearing the recent news release he added: “With this acquisition, Coupa will be the only buy-side suite provider with AI-infused contract management that is currently proven in the market …”

The proposed transaction, once closed, which is expected to be during Coupa’s fiscal second quarter (subject to the satisfaction of regulatory approvals and other customary closing conditions) will see Exari unified with the Coupa contract repository.

Look out for in-depth analysis from our analysts in the coming days.

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