Coupa Unveils New Product Innovations Enabling Sustainable Business Impact

Rhea-AI Summary

On June 15, 2021, Coupa Software (NASDAQ: COUP) launched innovations to assist organizations in achieving Environmental, Social, and Governance (ESG) goals through Sustainable Business Spend Management (BSM). The BSM platform enables businesses to optimize spending by promoting diversity and sustainability in their supply chains. Key features include enhanced supplier diversity data, custom alerts for identifying diverse suppliers, and ESG impact visibility through dedicated dashboards. These innovations aim to ensure that every dollar spent not only benefits the business but also the community and planet.

Positive

• Launch of Sustainable Business Spend Management (BSM) to optimize ESG initiatives.
• Enhanced supplier diversity capabilities, improving access to diverse suppliers.
• Introduction of ESG impact visibility tools, such as dashboards and sustainability insights.

Negative

• None.

SAN MATEO, Calif., June 15, 2021 /PRNewswire/ -- As global markets re-emerge from the pandemic, "building back better" remains a top business priority. Yet despite this priority, many organizations struggle to actually implement their Environmental, Social, and Governance (ESG) initiatives. Today, Coupa Software (NASDAQ: COUP), a leader in Business Spend Management, announced new product innovations designed to help organizations maximize business and ESG impact through their spend. With Sustainable Business Spend Management (BSM), leaders of supply chain, sourcing, procurement, and finance can collaborate to ensure every dollar spent benefits the business, as well as the community and the planet.

"Companies have the power to drive sustainable impact with how they spend their money, such as choosing to buy from diverse suppliers or designing a transportation network that reduces carbon footprint," said Donna Wilczek, senior vice president of Product Strategy & Innovation at Coupa. "Coupa's BSM platform enables spend leaders to act in real time to achieve ESG and business impact, without sacrificing financial performance. We help turn good intentions into actions that have a measurable impact."

Key benefits and new capabilities include:

• Spend with Diverse and Sustainable Suppliers:
• Diversity and Sustainable Identifiers in Search Results & Filtering: Organizations can use visual tags on supplier records and item cards to identify if the supplier or product is from a diverse or sustainable business. Customers can also filter search results to only show suppliers or items from diverse or sustainable businesses.
• Custom Alerts: Companies can set opportunity triggers to help identify diverse suppliers when creating new requisitions.
  
• Best-in-Class Supplier Diversity Data:
• Diversity Data Collection: Collect supplier diversity data and certifications directly in the Supplier Information Management (SIM) tool via a comprehensive, easy-to-use form.
• Supplier Onboarding: A clear and guided path for new suppliers to onboard onto Coupa's BSM platform to get easily discovered, helping drive further lead generation for their businesses.
• Supplier Diversity In/Out API: New diversity status insights within supplier records make it easier to find a diverse supplier.
• Supplier Diversity and Enrichment Analytics: New Coupa Analytics capabilities help business leaders measure success directly against their goals.
  
• Visibility into ESG Impact and Benchmarking:
• Diversity Dashboard: This dashboard shows organizations the portion of their spend that comes from diverse-owned suppliers.
• Sustainability Insights: Coupa pre-calculates the environmental impact of e-invoicing and e-purchasing, including the amount of trees, water, oil, and carbon emissions saved.

To learn more about Sustainable Business Spend Management (BSM), visit coupa.com/SustainableBSM.

About Coupa Software
Coupa empowers companies around the world with the visibility and control they need to spend smarter and safer. To learn more about how Coupa can help you spend smarter, visit http://www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.

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SOURCE Coupa Software

FAQ

What is Coupa Software's recent product announcement about?

Coupa Software announced new innovations for Sustainable Business Spend Management (BSM) to help organizations achieve ESG goals.

How does Coupa's BSM impact ESG initiatives?

Coupa's BSM enables organizations to optimize spending while promoting diversity and sustainability in supply chains.

What are the key features of Coupa's new product innovations?

Key features include enhanced supplier diversity data, custom alerts for diverse suppliers, and ESG impact visibility dashboards.

When was the announcement made by Coupa Software?

The announcement was made on June 15, 2021.

What is the stock symbol for Coupa Software?

The stock symbol for Coupa Software is COUP.