Coupa Launches New AI-Driven Automations to Help Businesses Drive Efficiencies

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Mar 04, 2024, 09:00 ET

New innovations help teams move quicker, operate smarter, and make more profitable decisions

SAN MATEO, Calif., March 4, 2024 /PRNewswire/ -- Coupa, the leading AI-driven platform that helps you operate smarter and grow faster, launched new innovations that improve the buying experience and collaboration across the supply chain.

"For more than a decade, Coupa's been leveraging AI to help its customers automate, increase efficiencies, and work smarter to improve business outcomes. In a world where every business is being tasked to do more with less, teams need intuitive, intelligent AI-driven solutions that have the power to transform their operations for the better," said Fang Chang, Chief Product Officer at Coupa. "New AI innovations from Coupa will help businesses become more scalable and profitable. We are excited to unleash cutting-edge Generative AI solutions later this year, set to revolutionize your workflows within Coupa."

"AI is a game changer for businesses. It's one of the most powerful technologies teams can leverage," said Josh Waldron, Vice President, Finance & Accounting at Scale AI. "Coupa's AI-driven platform helps my team to make smarter decisions and ultimately enables us to be more strategic because we're able to focus on what matters. I'm looking forward to the new AI innovations on Coupa's roadmap."

Coupa helps businesses make more informed buying, sourcing, supply chain, and financial decisions to drive growth and better match supply and demand. New innovations help businesses:

Increase Payments Automation: New AP automation features extract invoice data from scanned documents, instantly digitizing the invoice. New AI features also automatically assign tax code rules to invoices, further reducing the need for manual entry and shortening cycle and approval times.
Optimize Workflow Processes: New purchase, supplier, contract, and sourcing event requests can be auto-assigned to users based on customized settings for each business. Teams have improved visibility and control over their approval queue, improving time management and freeing bandwidth to tackle more strategic projects.
Create More Profitable Buying Experiences: New Coupa App Marketplace integrations with Tonkean and Tropic take the friction out of the buying experience for employees. With intelligent intake orchestration, buying is intuitive. Employees are guided to make smarter decisions that can accelerate more profitable outcomes for the business.

Coupa has also launched the Early Access Program for Forecast Collaboration – part of its Supply Chain Collaboration suite – which streamlines communication between buyers and suppliers to better match supply and demand. Forecast Collaboration enables buyers to proactively plan future material needs to mitigate risks and ensure continuous supply. Forecast Collaboration will be made generally available with our May 2024 release.

Additional AI-driven innovations will be launched this year at Coupa Inspire. Join us in Las Vegas on April 22-24 or in Vienna on June 4-6. You'll hear more than 200 Coupa customer stories covering procurement, finance, and supply chain transformation from Coupa's global community of 3,000+ global customers.

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