Global Brands Lean on Business Spend Management to Bolster Resilience

Rhea-AI Summary

On December 14, 2022, Coupa Software (NASDAQ: COUP) showcased its Business Spend Management (BSM) platform during its Executive Summit Series, attended by over 500 executives worldwide. The event highlighted how companies like the Leukemia & Lymphoma Society saved $18.4 million through improved spending practices, translating to a 6.3% gain in operating margins. Major clients such as AstraZeneca and UPS shared insights on leveraging BSM for growth and efficiency amid economic uncertainty. Coupa aims to foster collaboration for tackling upcoming challenges in 2023.

Positive

• Leukemia & Lymphoma Society reported $18.4 million saved via Coupa, improving operating margin by 6.3%.
• Over 500 executives shared success stories demonstrating the efficiency of Coupa's BSM platform.
• Clients like Bowery Farming recouped Coupa subscription costs through process automation within a year.

Negative

• None.

Companies are finding savings, boosting productivity, and driving sustainability through Coupa's BSM platform

SAN MATEO, Calif., Dec. 14, 2022 /PRNewswire/ -- Leading global brands are relying on Business Spend Management (BSM) to build resilience into their organizations, sharing inspiring stories, insights, and successes of their transformations during Coupa Software's (NASDAQ: COUP) 2022 Executive Summit Series. The series brought together more than 500 executives across Australia, Singapore, France, U.K., and the U.S.

The volatility of the global economy has forced businesses to face a level of uncertainty that hasn't been experienced in at least a decade. Organizational resiliency is being tested, bringing the Coupa community together to collaborate in preparation for whatever new disruptions and challenges will come in 2023.

"For us, every dollar saved is another dollar put towards a cure," said JR Miller, chief financial officer, Leukemia & Lymphoma Society. "In the last three years, LLS has freed up $18.4 million through smarter business spending through Coupa that we've invested in lifesaving programs. That translates to a 6.3% improvement in operating margin. I hope sharing our success with the Coupa community empowers others in their missions as well. There is no better way to tackle complex problems than leveraging the collective brain power of your peers."

Executives from more than 25 Coupa customers, including AstraZeneca, Diageo, HSBC, UPS, and Uber shared stories of how their organizations leverage Coupa's BSM platform to accelerate performance and unlock purpose. Whether it's to scale and grow on the path to an IPO, deliver on corporate ESG initiatives, or improve financial maturity – BSM plays a strategic role in achieving growth and transformation goals.

"We're in rapid growth mode, so we need a platform that can scale and move forward with us. With Coupa, everything is connected, automated, and streamlined," said David Hose, director of financial systems, Bowery Farming. "Centralized spend visibility is critical to cost management leading up to IPO. In less than a year, Bowery has already recouped our Coupa subscription cost through process automation and working capital optimization."
"Resilient companies succeed while others struggle because they don't panic," said Chandar Pattabhiram, chief marketing officer, Coupa. "Instead of investing less, these companies see turbulent times as an opportunity to invest smarter. We're proud of our community and are committed to helping our customers reduce risks, increase efficiency, and drive profitability. Meeting new operational, ESG, and financial challenges will take the collective knowledge of all of us, from every corner of procurement, finance, supply chain, operations, treasury, and IT."

Coupa's Executive Summit Series will be back in 2023, with more opportunities for the BSM community to connect, brainstorm, and develop strategies to tackle complex global challenges.

Want to make every dollar spent more effective and sustainable? Join Coupa at Inspire Americas and Inspire EMEA, the flagship global BSM community event.

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. Learn more at www.coupa.com and follow us on LinkedIn and Twitter.

 

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SOURCE Coupa Software

FAQ

What impact did Coupa's BSM platform have on clients in 2022?

Coupa's BSM platform helped clients save significant amounts, such as the Leukemia & Lymphoma Society saving $18.4 million over three years.

What was discussed at Coupa's 2022 Executive Summit Series?

The summit focused on business resilience, showcasing how major brands leveraged Coupa's BSM platform to improve efficiency and achieve growth.

How does Coupa support organizations facing economic uncertainty?

Coupa aids organizations by providing visibility and automation in spending, allowing them to manage costs and enhance operational efficiency.

What are some outcomes reported by Coupa customers?

Customers reported improved operating margins, cost recoupment through automation, and enhanced collaboration to tackle economic challenges.