Coupa Leverages Spend Management in Business through Contractually
SAN MATEO, CA: Coupa Software, a cloud based ‘Spend’ management service provider announced its acquisition of contractually, a cloud innovator that helps reduce business reliance on inadequate tools to version control.
The acquisition transforms B2B commerce by reducing the time consuming processes like contract authoring and signature. The capability enhances efficiency and reduces human error by streamlining the management of contract lifecycles.
Coupa Software enables businesses to recognize bottom-line financial success via Savings-as-a-Service. Coupa provides cloud spend management applications, including invoicing, procurement, expense management, sourcing and inventory addressing customers rebates on investment.
Coupa’s cloud based suite of financial applications enhances visibility and takes control over the ways ‘Spend’ results in the company .The spend management solution includes procurement, expenses and Accounts Payable procedures. It improves compliance and increases savings across the board. The key features include One code Line means no custom ‘one-offs’, which increases innovation, simplifies support and boosts updates for all customers. The pre Integrated Applications allows customers to subscribe their choices and add-on later functionality, with simple configuration.
The contracts are created through securing long-lasting relationships among suppliers, partners and customers. Contractually aims at transforming Coupa’s antiquated contract processes to the digital world through this collaboration. The collaboration reduces human errors in contracts, contract risk and prevents error that causes business issues.
The Coupa Open Business Network provides customers with the flexibility to make easy transaction with the suppliers to reduce supply chain costs through supplier network fees.
“Contractually extends our unified suite of applications with a critical new set of capabilities. We look forward to bringing this exceptional new synergistic offering to our customers and market,” said Rob Bernshteyn, CEO, Coupa. “We made the decision to acquire contractually primarily due to the shared vision with their team, and the innovative focus they applied to their Ruby on Rails developed offering” Rob adds.