Global Brands Unlock $194 Billion in Bottom-Line Savings, Boosting Business Growth

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Jun 25, 2024, 12:00 ET

Growing Coupa community of 10 million suppliers and $6 trillion in economic spend informs its community-generated AI, helping make margins multiply

FOSTER CITY, Calif., June 25, 2024 /PRNewswire/ -- Coupa, the margin multiplier company, today announced that it has helped over 3,000 global customers achieve more than $194 billion in savings that could be reinvested to fuel business growth; with over $12 billion in bottom-line savings in the last quarter alone.

"With Coupa, we've been able to digitize and standardize processes across finance and procurement teams. We have access to real-time data, giving us better control and visibility of which businesses we are transacting with, and we're able to provide more strategic support to the business," said Shaun Carroll, Group Director of MSS and Chief Procurement Officer, Mitie. "Coupa's helped us realize £15M in savings and is being used to support Mitie's target to reach operating profit margins of 4.5-5.5% in the near term."

"In the past quarter, more than 1 billion actions were taken by customers using Coupa AI on our platform. Coupa's evolution as the margin multiplier company is being fueled by the multiplier effect our AI drives for our global customer community every single day. Our customers have been leveraging Coupa's community-generated AI for years to outperform and drive more growth, resiliency, sustainability, efficiency, and productivity," said Leagh Turner, Coupa CEO.

"We had over 300 companies expand or initiate their relationship with Coupa in the last quarter. We're honored and proud to be partnering with, and growing with, so many leading brands to help them transform their operations and truly thrive in this complex global economy. Today our dataset represents more than $6 trillion in global economic spend across a growing network of 10 million buyers and suppliers. As our community grows, our data grows and our AI gets smarter, with all of us becoming exponentially smarter together," said Turner.

Coupa community highlights for the fiscal quarter include:

300+ global businesses initiated or expanded their partnership with Coupa including Abnormal Security, Sendas Distribuidora S/A, BayCare Clinic, Changan Ford, Grand America Resorts, Lexicon, Marshall Motor Group, Northern Illinois Food Bank, ORIC Pharmaceuticals, and Paragonix Technologies.

Coupa proudly counts 20 customers among Gartner's newly released Global Supply Chain Top 25.
4,000+ attendees from more than 40 countries experienced Coupa's flagship global community events, Inspire Americas and EMEA. Attendees heard stories from over 200+ customers – including leading brands such as Aldi, Barclays, Cisco, HSBC, Mitie, Microsoft, Mastercard, Schneider Electric, and Uber – who are leveraging Coupa for productivity, efficiency, sustainability, growth, and margin improvements across their businesses.

Schneider Electric took home the title of Coupa's Spendsetter of the Year during the annual Spendsetter Awards. Eight other companies were recognized as category winners for their innovation and excellence.
10 Global Executive Summits kick off this summer. These one-day events take place in cities all over the world, connecting finance and procurement leaders to gain exclusive insights from Coupa experts and customers on everything from the value of a margin multiplier, a total spend management platform, community-generated AI, industry benchmarking, ESG, and more.
Coupa released its latest 2024 Total Spend Management Benchmark Report, providing CFOs and their finance and procurement teams actionable insights and productivity benchmarks based on Coupa community performance. The report informs leaders on how they measure up versus their peers and provides guidance on how to optimize business processes.
110+ new product capabilities and features were launched with a focus on AI and Gen AI, including Coupa Navi™, an AI agent that provides real-time support and guidance to help teams make smarter and more profitable business decisions. Additional new AI-driven product innovations included solutions for Contract Intelligence, Purchase Order (PO) Collaboration, and Forecast Collaboration.

Coupa was recently ranked #4 in Supply Chain Digital's top supply chain companies in Gen AI.

About Coupa
Coupa makes margins multiply through its community-generated AI and industry leading total spend management platform for businesses large and small. Coupa AI is informed by trillions of dollars of direct and indirect spend data across a global network of 10M+ buyers and suppliers. We empower you with the ability to predict, prescribe, and automate smarter, more profitable business decisions to improve operating margins. Coupa is the margin multiplier company™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter).

SOURCE Coupa Software