Coupa Delivers over $1 Billion in Billings; Unlocks $175 Billion in Bottom-Line Impact for Global Customers

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Feb 15, 2024, 16:00 ET

Coupa continues to innovate to help customers work smarter and faster

SAN MATEO, Calif., Feb. 15, 2024 /PRNewswire/ -- Coupa, the leading AI-driven platform that helps you operate smarter and grow faster, today announced it delivered over $1 billion in billings for the fiscal year ended January 31, 2024. The Coupa platform manages more than $5 trillion in overall business spend. The company has helped global businesses achieve more than $175 billion in savings and working capital improvements over the past decade.

"Businesses today are looking for trusted digital transformation partners that deliver tangible value. Our recent recognition by Gartner as a Leader in its first-ever Magic Quadrant for Source-to-Pay Suites is a testament to the business value and operational confidence that Coupa's AI-driven platform delivers," said Leagh Turner, Coupa CEO.

"In 2023 alone, we helped our customer community unlock more than $30 billion in bottom-line savings. That's real value that gets reinvested in innovation, customer service, and profitability. And it wouldn't be possible without the greatest competitive edge that's driving this company forward – our agile, passionate, and committed global team," Turner said.

Business highlights for the fiscal year:

300+ companies joined Coupa's global community of 3,000+ customers. New customers include: Albemarle Corporation, Allwyn, Great Dane, Idahoan Foods, Mobico Group, Patterson-UTI, Penguin Random House, and The Scion Group.
200+ customer speakers are confirmed to speak at Coupa's flagship global community event, Inspire – happening in Las Vegas on April 22-24 and in Vienna on June 4-6. Attendees access exclusive insights across more than 150 breakout sessions and in-depth training and learning opportunities to drive maximum ROI from their Coupa investments. Customers sharing their transformation stories include Airbus Helicopters, Asana, Barclays, BMO, Cisco, Danone, DHL, DigitalOcean, Intuit, The Kraft Heinz Company, Mastercard, Microsoft, Nordstrom, Royal Caribbean Group, SailPoint, Schneider Electric, SoFi, and Uber.
Hundreds of new innovations launched, with a focus on AI and Gen AI. Surpassed 150+ issued and pending patents. Coupa continued to bolster its AI innovations to help businesses drive efficiencies at scale, mitigate risk, and improve profit margins.

For example, Coupa's AI:

- Protects customers from overpaying for goods and services across frequently purchased items, ocean freight, and full truckload bidding
- Identifies suspicious, potentially fraudulent transactions in real time, stopping them before they damage bottom lines

New Gen AI co-pilot features in development will make Coupa even easier to use, with smarter self-guided experiences, contract writing assistance, and recommendations to reduce supply chain risk.

25+ leading industry analyst report positions, 15+ G2 leader badges and positions, and 250+ 5-star G2 reviews. Coupa's AI-driven platform continues to be recognized for automating and connecting purchasing, sourcing, supply chain, and financial management for a unified view of real-time insights for easier decision making.

Earlier this month, Coupa was chosen as a Leader in the inaugural Gartner Magic Quadrant for Source-to-Pay Suites. Coupa's position validates the company's ability to execute for customers, as well as the platform's completeness of vision.

Coupa was named first on Procurement Magazine's Top 10 Generative AI Platforms. Procurement Magazine evaluated platforms that leverage AI techniques to generate, analyze, and optimize procurement-related data, leading to more efficient and effective procurement strategies, with Coupa receiving the top recognition.

Welcomed and promoted seasoned leaders to Coupa's leadership team. Coupa named Leagh Turner as CEO, and announced major additions and promotions across its management team, including:
- Alicia Allen joined as Chief Accounting and Financial Operations Officer
- Amy Sweeney joined as Chief Information Officer
- Arjun Ramaratnam promoted to Chief Development Officer
- Craig Newfield joined as Chief Legal Officer
- Donna Wilczek promoted to Executive Vice President, Strategy and Innovation
- Fang Chang promoted to Chief Product Officer
- Kevin Burns joined as Chief Finance Officer
- Kevin Iaquinto joined as Chief Marketing Officer
- Mike Schanker promoted to Executive Vice President, Strategic Insights
- Paul Maguire promoted to Managing Director, EMEA & APAC
- Rich Slipec promoted to Managing Director, Americas
- Sameer Areef joined as Chief Transformation Officer
- Susan Tohyama joined as Chief Human Resources Officer

About Coupa
Coupa makes companies operate smarter and grow faster. Our leading AI-driven platform connects and optimizes sourcing, purchasing, supply chains, and financial management. More than 3,000 global organizations large and small trust Coupa to transform operating margins, increase efficiencies and growth, optimize cash, and reduce risk. Learn more at coupa.com and follow us on LinkedIn and X (Twitter).

SOURCE Coupa Software