Coupa Named a Leader in the Inaugural 2024 Gartner® Magic Quadrant™ for Source-to-Pay Suites

Driving transformational operational efficiency and growth for customers large and small through the leading, AI-driven source-to-pay platform

SAN MATEO, Calif., Feb. 1, 2024 /PRNewswire/ -- Coupa, the leading AI-driven source-to-pay platform provider, today announced that it has been named a Leader in the 2024 Gartner Magic Quadrant for Source-to-Pay Suites*.

The first-ever Gartner Magic Quadrant for Source-to-Pay (S2P) Suites report evaluated 10 vendors across 15 types of evaluation criteria based on the ability to execute and completeness of vision. Coupa is positioned in the Leaders quadrant, validating our ability to execute, as well as completeness of vision.

"Coupa is the industry's first and foremost AI-driven source-to-pay platform, spanning sourcing, direct and indirect spend, supply chain, and financial management. We are completely focused on uniting people and companies to operate smarter and grow faster, creating more sustainable, profitable business outcomes. This recognition from Gartner, we feel, is a testament to the quantifiable value our platform delivers for our customers and the exceptional work of our 3,000 global employees," said Leagh Turner, Coupa CEO. "We're honored that Gartner has recognized Coupa as a Leader in Source-to-Pay Suites."

"Businesses of every size are feeling enormous pressures to drive sustained growth and profitability. Coupa provides a transformational, AI-driven platform that automates and connects purchasing, sourcing, supply chain, and financial management, optimizing cash and margins, ensuring controls and compliance, and mitigating risk," said Fang Chang, chief product officer at Coupa. "For over a decade, businesses have embraced Coupa's AI-first approach, realizing maximized ROI and building better companies as a result. With Coupa's AI, you can confidently automate smarter, faster, and more profitable business decisions, outcomes, and growth."

Novo Nordisk, one of the world's largest pharmaceutical companies, leverages Coupa to further its mission to defeat diabetes and other chronic illnesses. The company's previous system made purchasing lab equipment too complicated for researchers, leading to poor user adoption and lack of data transparency. With Coupa, they launched a digital transformation so scientists can source, manage contracts, buy, and pay in an easy way, and have generated €45M in savings annually.

"We're a bold and ambitious team, and Coupa enables us to deliver on our mission for procurement to support company growth. Coupa is essential to our digital transformation, making us more efficient, collaborative, and innovative. It enables us to fulfill our purpose of driving change to defeat serious chronic diseases," said Martin Fog, Vice President, Corporate Procurement, Processes & Digitalisation at Novo Nordisk.

Major capabilities of the Coupa Source-to-Pay solution include:

• Prescriptive AI-Driven Insights: Use AI-driven community insights to negotiate the most competitive prices, drive more efficiencies, and improve operational performance by leveraging $5T in spend data across Coupa.
• Guided & Unified Direct and Indirect Spend Management: Guide employees through direct and indirect buying processes and streamline workflows with a seamless connection to contracts, multiple options for electronic invoicing, real-time supplier risk alerts, real-time spend analysis, and more.
• Intelligent Fraud Detection: Manage risk more efficiently and effectively by leveraging the latest AI and ML to detect errors and flag fraudulent activity automatically across all business spend.
• Compliant Invoicing: Keep up with changing regulations while managing suppliers across borders with Coupa's built-in Compliance-as-a-Service (CaaS) capabilities.
• Seamless Payments: Automate reconciliation and efficiently manage all payments to suppliers, employees, subsidiaries, and other beneficiaries.
• Ecosystem of Partners: Make Coupa the hub of any spend management operations through pre-built and certified partnerships with hundreds of third-party companies including payment partners, suppliers, and technology partners.

"We're constantly innovating across our source-to-pay platform to help organizations spend smarter and grow faster by managing all of their spend – both indirect and direct. Coupa's unmatched AI-driven platform guides employees to make more informed decisions and accelerate more profitable outcomes and growth opportunities," added Chang.

For a complimentary copy of the 2024 Gartner® Magic Quadrant™ for Source-to-Pay Suites, click here.

*Gartner, Magic Quadrant for Source-to-Pay Suites, 29 January 2024, By Micky Keck, Naveen Mahendra, Kaitlynn Sommers, Lynne Phelan, Cian Curtin, Balaji Abbabatulla, Chaithanya Paradarami.

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About Coupa Software
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