Driving robust compliance and operational efficiency through its AI-driven total spend management platform
FOSTER CITY, Calif., Oct. 29, 2024 /PRNewswire/ — Coupa, the margin multiplier company, has been named a Leader in the IDC MarketScape: European Compliant e-Invoicing 2024 Vendor Assessment (Doc #EUR151806424, September 2024).
“As more European countries implement mandatory electronic invoicing and reporting, multinational organizations face significant challenges in managing compliance due to differing standards and regulations. While compliance is a strong driver for adoption, digital invoicing strategies provide a competitive advantage to businesses looking to increase spend efficiency, optimize processes, and realize greater savings and growth opportunities,” said João Paulo da Silva, Coupa Regional President, EMEA and APAC.
Silva added, “We believe this recognition from the IDC MarketScape is a testament to the value our total spend management platform brings to businesses transforming their procurement and finance processes. Our AI-driven invoicing solution and always-on, always up-to-date, compliance-as-a-service is helping businesses multiply their margins, drive smarter and more profitable decisions, and operate with confidence.”
Finnair, a global airline connecting customers and cargo between Europe, North America, and Asia, was struggling with spending solutions that were complicated to use, leading to low adoption rates and poor operational efficiency. With Coupa Finnair was able to take procurement to the next level, using Coupa’s platform to identify sourcing and savings opportunities. They’ve achieved over 90% on-contract spending and PO coverage, enabling AP efficiency and a touchless invoicing process – cutting invoice processing time by 50%.
Coupa’s invoice management software adds automation, compliance, and AI-powered insights for improved efficiency. Our modernized approach helps businesses:
- Gain efficiencies and save: Provide suppliers multiple options for e-invoicing without fees and increase adoption across PO-backed, contract-backed, and non-PO invoices.
- Streamline and automate processes: Customize invoice matching tolerance levels and use benchmarking and trend analysis to identify bottlenecks and reduce cost-per-invoice.
- Increase speed and reduce errors: Leverage AI to extract data from invoices and automatically map it to e-invoice records and accelerate invoice processing and improve accuracy by automating AP’s email inbox.
- Detect and protect against fraud: Stop fraudulent or duplicate invoicing spend before it happens with Coupa’s AI-driven fraud detection to safeguard revenue and your reputation.
- Achieve regulatory compliance: Stay on top of changing regulations and manage suppliers across borders and regions with Coupa’s Compliance-as-a-Services which automatically validates country-specific requirements before issuing an invoice.
The IDC MarketScape for European Compliant e-Invoicing found Coupa’s robust network as a key strength. The report states, “Coupa’s network is a key benefit for the vendor’s ability to offer extensive and reliable e-invoicing solutions. Not only does it mean Coupa has total control over its e-invoicing solution, but with more than 10 million suppliers and buyers already on the network, Coupa has wide reach. Additionally, the approach Coupa takes to supplier onboarding — ensuring its free for suppliers to join the supplier portal — is a huge potential benefit for its customers and the expansion of their e-invoicing compliance.”
For a complimentary excerpt copy of the report, click here.
Additional information:
- Check out the report blog
- Read the ebook about invoicing in the digital age
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).
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
“IDC, MarketScape: European Compliant e-Invoicing 2024 Vendor Assessment, Doc #EUR151806424, September 2024”
SOURCE Coupa Software