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Coupa has unveiled new product innovations to make business spending smarter. The innovations were developed in conjunction with the company’s Business Spend Management (BSM) community and over 1.2 trillion transactions.

One of the innovations – Procurable Spend Spotlight – focuses on companies that have reducing costs as an important business priority. The solution involves converting simple transactional processing of expense reports into smarter Business Spend Management, resulting in measurable savings that drive growth and profitability.

Procurable Spend Spotlight uses Community Intelligence-driven analytics to identify savings opportunities by identifying expense reports that could be purchased at a lower cost through existing procurement contracts.

In addition, the Coupa Advantage programme has been given a new function. Advantage allows companies to leverage the growing purchasing power of the Coupa community to negotiate significant price reductions, which then become available to all of Coupa’s customers. The program now determines in real-time what customers spend and describes opportunities for community-based, pre-negotiated savings.

New approach

Coupa took over DCR Workforce eight months ago. Since then, the company has been bringing together workforce management in its BSM platform. Now it’s possible to use an industry-first guided services management approach, which automatically redirects employees to the right service budget for each project. This enables companies to act more quickly and to allocate their staff in the right way to comply with government regulations.

Finally, the Coupa App Directory is new. The App Directory allows customers to add third-party applications to the company’s BSM platform. The new capabilities provide a streamlined and comprehensive expense management experience with the best third party data and processes. These include sustainability scores, tax information and travel processes.

Several partners are already available at the launch. These are BitSight, EcoVadis, GetThere, Taxback International and Thomson Reuters ONESOURCE.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.