Coupa's New Community.ai Rapidly Transforms Business Insights into Actions

Rhea-AI Summary

Coupa Software (NASDAQ: COUP) has launched its innovative Community.ai, enhancing Business Spend Management (BSM) by leveraging data-driven AI for improved buyer-seller interactions. This platform processes data from over 2,000 global customers, encompassing over $3 trillion in cumulative spend. Key features include Community Insights for pricing and process metrics, and Community Connections for networking among BSM professionals. CEO Rob Bernshteyn emphasizes Community.ai's ability to provide unparalleled business insights, aiming to foster a smarter and more valuable customer community.

Positive

• Launch of Community.ai enhances business insights and efficiencies.
• Access to aggregated pricing data helps users secure better purchase prices.
• Improved networking capabilities among BSM professionals via Community Connections.

Negative

• None.

SAN MATEO, Calif., Feb. 2, 2022 /PRNewswire/ -- Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), today launched a set of next-gen spend management innovations under the umbrella of Community.ai. Coupa combines the power of data-driven artificial intelligence with person-to-person connections to transform B2B communities and how buyers and sellers interact.

Underpinning Coupa's Community.ai is the massive amount of data generated every day from more than 2,000 global customers – Coupa's platform has processed $3+ trillion of cumulative spend from the BSM community. Combined with novel ways for users to interact directly and in groups, Coupa's proprietary artificial intelligence aggregates data and then leverages it to help organizations discover deeper insights, make better decisions, and support mutual success.

"Community.ai gives our growing community of customers valuable business insights at an unparalleled scale and speed," said Rob Bernshteyn, chairman and CEO of Coupa. "We're not just imagining a better business community, we're building one with our customers. And as our community grows, we believe it will continue to become exponentially smarter and more valuable for everyone that's part of it."

The spend management capabilities at the core of Community.ai are anchored in Coupa's Community Insights and Community Connections.

Community Insights: Capabilities leverage anonymized transaction data to unlock business value for users to become more efficient, profitable, and sustainable.

Examples include:

• Pricing Insights: Benchmark prices for items frequently purchased across the Coupa community to identify and execute on new savings opportunities. View aggregated statistical pricing analyses and take action with prescriptive recommendations to help users secure the best possible prices for those items.
• Process Insights: Track key metrics to measure the impact of improvement initiatives and benchmark performance against industry leaders. With Process Insights, users can better understand their procure-to-pay process efficiency by easily analyzing the relationships between requests, orders, invoices, and payments.
• Early Payment Discount Insights: Review realized and missed early payment discount opportunities to gain a deeper understanding of organization performance, helping AP teams move beyond basic cost controls and drive more strategic initiatives.
• Community Supplier Search: Easily discover new suppliers by searching across the broader Coupa community. This expanded search experience helps users discover new suppliers, improve sourcing event selection, and increase spend with diverse suppliers.

Community Connections: Capabilities leverage a massive community of BSM professionals to share knowledge and tap into greater savings.

Examples include:

• Community People Finder: Search for specific people, or filter through users by their role, region, industry, or commodities they work with to increase the ease of connecting with community members.
• Community Updates: Get an all-encompassing view of the latest and most relevant community content, events, and product capabilities tailored to a user's specific role with the new community overview page. This single destination for the latest community activity, allows users to easily engage with the community and receive real-time notifications on group activities.
• Community Messaging: Stay up to date with community messages directly within Coupa. Users can access a simple cross-company chat service to connect with other relevant users in shared parts of the BSM workflow allowing for open dialog.

"Coupa is the first provider in the business spend management sector to actually win deals on the power of embedded community benchmarks for procure-to-pay," says Jason Busch, Founder of Spend Matters. "The extension of permission-based, opt-in community benchmarks to embedded performance feedback, operational support, prescriptive recommendations, and a social business platform across source-to-pay and adjacencies can help Coupa further differentiate its suite. We can't wait to see how Community.ai continues to evolve."

Take advantage of Community.ai by becoming part of the Coupa Community today, learn more at www.community.ai.

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 about Coupa, visit www.coupa.com or follow us on LinkedIn or Twitter.

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SOURCE Coupa Software

FAQ

What is Community.ai launched by Coupa Software?

Community.ai is an innovative platform leveraging AI to enhance Business Spend Management, enabling better interactions between buyers and sellers.

How much cumulative spend has Coupa's platform processed?

Coupa's platform has processed over $3 trillion in cumulative spend from its global customer base.

What are the key features of Community.ai?

Key features include Community Insights for pricing and process analytics, and Community Connections for networking among professionals.

How does Community.ai help businesses improve efficiency?

It provides anonymized transaction data and actionable insights to help organizations become more efficient, profitable, and sustainable.