Coupa Business Spend Management for Federal Achieves FedRAMP Authorization
Coupa Software (NASDAQ: COUP) has received FedRAMP Moderate Authorization, enhancing its potential to partner with U.S. federal agencies. This approval allows Coupa's cloud-based Business Spend Management (BSM) platform to comply with stringent cybersecurity standards set by the federal government, making it available on the FedRAMP Marketplace. Sponsored by the U.S. Federal Reserve, this initiative aims to foster public-private partnerships and streamline digital transformation for government agencies.
- Achieved FedRAMP Moderate Authorization, positioning Coupa favorably for federal contracts.
- Enhances compliance with U.S. government cybersecurity standards, boosting credibility.
- Opens opportunities for partnerships with over 2,500 global organizations.
- None.
U.S. Government Approval Opens New Opportunities to Partner with Federal Agencies, Accelerate Value for Citizens
SAN MATEO, Calif., March 14, 2022 /PRNewswire/ -- Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), has achieved Moderate Authorization from the Federal Risk Authorization Management Program (FedRAMP).
This authorization underscores Coupa's commitment to stringent security and compliance standards – now including rigorous cybersecurity standards established by the U.S. federal government and Department of Defense for cloud solution providers. With this designation, Coupa is now available on the FedRAMP Marketplace, enabling every federal agency to begin using Coupa's all-in-one, cloud-based platform with this trusted layer of security and compliance.
The U.S. Federal Reserve System Board of Governors sponsored Coupa to receive authorization from FedRAMP. The federal program provides a standardized approach for U.S. agencies and departments to deploy cloud services. It enables public-private partnerships to promote innovation and the advancement of more secure information technologies.
"We're incredibly excited to earn the FedRAMP Moderate authorization and have the opportunity to increase the value we provide for government agencies at every level," said Jon Stueve, chief legal officer at Coupa. "To reach this milestone, we met more than 300 exacting security and compliance benchmarks. The result – Coupa is poised to help government agencies accelerate their digital transformation and scale their mission, impact, and success."
Government agencies face constantly evolving complexity and expectations. Budgets face more scrutiny than ever. Missions are expanding at an incredible pace. As a result, agencies must strive constantly to maximize the value of every taxpayer dollar.
"More than ever before, keeping trust with citizens is at the heart of federal agencies' work. Coupa gives agencies the insights and agility to deliver on that trust in how they manage and spend every budget dollar," said Stueve. "With FedRAMP Moderate Authorization, Coupa's poised to provide agencies with a simpler, faster, and more intelligent way to deliver success and value for citizens and stakeholders."
As a cloud-based platform, Coupa unifies siloed back-office processes across supply chain, procurement, and finance so organizations can react quickly and confidently to maximize the impact of every dollar they spend. Coupa helps more than 2,500 organizations around the world maximize the return on their digital transformations.
Learn more about how Coupa helps serve the Public Sector at www.coupa.com/solutions/industries/public-sector. Find Coupa in the FedRAMP Marketplace here.
Forward-looking Statements
This release contains forward-looking statements, including the market demand in the Federal sector for and acceptance of Coupa's products and services, the results from use of Coupa's products and services, and general business conditions, particularly within the business spend management industry. Any forward-looking statements contained in this press release are based upon Coupa's historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Coupa's expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Coupa disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially.
These and other risks and uncertainties that could affect Coupa's future results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in Coupa's quarterly report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on December 7, 2021, which is available at investors.coupa.com and on the SEC's website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other periodic filings Coupa makes with the SEC.
About Coupa Software
Coupa is the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions. Coupa empowers organizations around the world to maximize value and operationalize purpose through their business spend. To learn more, visit coupa.com or follow us on LinkedIn and Twitter.
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SOURCE Coupa Software
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