Coupa Software Releases New Cloud-Based Spend Management Solutions
Saturday, May 14, 2016
Coupa Software, a cloud-based spend management solutions provider, has announced Coupa Release 15 (R15), which includes a hyperlocalized language feature that allows businesses to personalize their application language to their business vocabulary and collect end-user translation suggestions and make language changes instantly. The release also adds in context recommendation engines that turn platform-wide data into real-time actionable insights.
The release supports Coupa efforts to provide an organic suite of cloud spend management applications, including invoicing, procurement, expense management, sourcing and inventory, Coupa Release 15’s new features allow companies to personalize business languages and add more contextual data insights and recommendations. Additional capabilities across the Coupa platform from expenses to sourcing, to e-invoicing and more have also been added in R15.
Some of the new features of the release include:
Hyperlocalized Languages and Suggest-A-Translation (Patent Pending): Coupa is currently accessed in more than 100 countries. Most people understand that global customers have unique local language requirements. What is often less understood is that most organizations have a unique business language within their doors. This uniqueness has often led to software providers developing custom language files for each customer that are expensive to create and maintain.
R15 includes two patent-pending language configuration innovations to help end custom development efforts, costs and software language limitations:
- Hyperlocalized languages allows each Coupa customer to real-time modify any of Coupa’s 20+ languages for their own purposes. Language configuration changes are applied in real-time for all of the customer’s users without impacting any other Coupa customer using that country’s language. Each Coupa customer benefits with a hyperlocalized language that is simple to configure and requires no development or maintenance costs.
- Suggest-a-Translation allows employees suggest a better translation that can be real-time applied by their system administrator. Once submitted, the Coupa Administrator can check a box to apply and all employees immediately see the new translation. Instant cloud software personalization via configuration without delay, development or maintenance costs.
Updated Sourcing Recommendations Engine: Adds Real-time Monitoring Expenses: Coupa has also improved its spending insights by adding Coupa Expense Management transactions to its real-time Sourcing recommendations engine. Now, Sourcing recommends sourcing savings initiatives based on predicted trends in Expenses spend. Coupa’s concept of SuiteSynergy adds value to the company’s unified suite - bringing together Sourcing and Expenses.
New Supplier Risk Recommendations Engine: Coupa has created a real-time Supplier recommendations engine for Coupa Supplier Information Management. The supplier recommendations engine monitors supplier data and instantly makes recommendations based on a variety of supplier risk triggers such as inactive, expiring certificates and outdated information.
New Inventory Trends Dashboards: Coupa has added trending dashboards to give immediate insights on trends regarding item discrepancies and inventory trends. Inventory dashboards help you better understand which warehouses to focus on or which processes to look at more closely to ensure you reach your goals of minimal discrepancies with the lowest carrying cost of inventory.
Improved Open Business Network Handling of Purchase Order Created by 3rd Party Systems: To handle purchase orders generated in third-party systems, such as a direct materials MRP systems, Coupa has added enhancements for third-party Purchase Order handling. The R15 enhancements simplify integration efforts and add clarity for suppliers as they invoice for every Purchase Order - regardless of if the PO was created in Coupa or if the PO was created in a third-party procurement system.
R15 also adds features across the spend management application suite in areas including;
- E-Invoicing: Enhanced UK, Austria, and Switzerland templates by removing fields and clarifying terminology. Added support for Invoice #/Year pair uniqueness.
- Sourcing: Award to different suppliers from the same event. Also automatically create a sourcing event based on parameters such as a requester’s region and commodity by using a new Sourcing API. No manual work.
- API Control: Coupa’s open API platform is very active - with over 100 million API calls last month. R15 supports API key expiry times and allows customers to easily control the scope of third-party system access by supporting keys with fine-grained access control, like read-only for invoices, or read/write for users, etc.
- Platform: view individual Integration runs and specify which users to notify to help your admins better distribute the workload in managing integrations across different ERPs.
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