Coupa Software releases an update for its BSM (Business Spend Management) Platform for companies. It adds additional automation options and analytics. AI allows companies to identify where to make better choices in their spending patterns. The update ensures that tips will be prioritised.
Coupa is used by many large companies to track their spending. The platform can be used by employees to submit their expense declarations and to manage vendor payments, such as project management. Coupa is growing immensely; the revenue over the past quarter was more than 119 million dollars.
Prioritisation in Coupa
Coupa already used AI to give companies more insights and advice on spending. However, the update adds a new prioritisation feature. The platform now prioritises these tips based on their estimated business impact, making it easier for users to determine which suggestions should be implemented as soon as possible.
There’s another new feature called Unified Spend Views. Financial professionals can now see expenses for both goods and services in the same dashboard. This should help with making budget decisions. Coupa also added new dashboards that display the spending per specific expense category.
There will be new features to make the relationship between companies and their vendors more efficient. Coupa is introducing tools to keep track of performance and prevent purchases that exceed the contract value. In turn, vendors will have access to integrations with fifteen delivery companies’ systems that allow them to provide their customers with better shipment tracking data.