SAN MATEO, Calif., May 18, 2017 (GLOBE NEWSWIRE) — Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, today announced Coupa Release 18 (R18), its second major cloud platform update this year. R18 gives customers more than 50 updates to existing platform applications, all designed to increase the depth of spend management processes to drive even more customer value.
The release expands global regulatory compliance, enhances administrator control, and adds new capabilities across the entire Coupa platform from travel and expense management to e-invoicing, inventory, and more. New applications available as part of R18 will be announced in separate press releases.
As with past Coupa platform updates, R18 was designed just four months after R17 with a collaborative and innovative approach that involved customer ideas and feedback through the active Coupa Community and Coupa Advisory Boards.
“We’ve been a Coupa customer for five years now and it’s great to see them keep up their fast rate of innovation,” said Bryce Berg, vice president of business services at Molina Healthcare. “We’re looking forward to taking the R18 update soon.”
Born in the cloud, Coupa delivers a modern spend-management platform that accelerates business by unifying processes across all the ways employees spend money. These processes cover travel and expense management, procurement, invoicing and related source-to-settle areas. Using the Coupa Open Business Network, the platform has connected more than 2 million suppliers and delivers a powerful solution for businesses committed to controlling their spend.
“This release adds so many deep new features from expenses to global e-invoicing to inventory and more. Wrapping all of it is a new brand control capability that lets customers personalize their entire Coupa experience in seconds,” said Raja Hammoud, vice president of product marketing and management at Coupa. “I’m proud of how our special customer collaboration allows us to reinvent spend management with each rapid release.”
Coupa Release 18 includes:
Extended Travel and Expense Management Intelligence-
Enhancements to intelligent expense capture and report generation save time for your high-value traveling employees by making it even easier to submit reports on the go, while avoiding delays in report submission and increasing expense accuracy.
- Automatically capture expense data from paper receipts. Simply take a photo with the mobile app and let Coupa Expense Management read the receipt using optical character recognition (OCR) technology to create the expense.
- Automatically itemize the long and detailed receipts that hotels send to travelers. Simply email the receipt and let Coupa Expense Management create the itemized expense lines.
Improve Agility to Avoid Errors and Reduce Fraud
Coupa makes it easy for your accounts payables team to focus their scarce time on the highest-risk reviews with automatic review triggers based on red flags such as low report scores or duplicate invoice lines.
Invoicing Depth –
‘Know Your Transaction’ Regulatory Compliance: As supply chains grow, invoicing complexity increases. Coupa’s new Know Your Transaction (KYT) compliance helps deliver the ability for global companies to apply the correct tax regulations by using supplier provided “ship from” and “ship to” invoice data with transaction data to make a tax determination. KYT allows for transaction level control – the combination of supplier address details and transaction details that help control the accuracy of each provided transaction and enable tax determination and coding.
Additional Compliant Country Coverage: As government regulations change, the Coupa platform changes with them. This release adds country-specific invoicing templates for Bulgaria, Canada, Croatia, Denmark, Estonia, Finland, Greece, India, Latvia, Lithuania, Malta, Norway, and Slovenia. The VAT compliant invoicing capabilities for a total of 31 country templates are configurable by the customer and elegantly manage government required fields and related processes.
Enhanced Dispute Management: Improves the management of disputed supplier invoices to save accounts payables time while keeping a full audit trail.
System Control –
Instant Brand Control: Coupa customers can simply enter their brand color value into Coupa and applications will instantly be changed platform-wide to match their brand color. This increases the ways customers can hyper-personalize Coupa – all with no custom development required. It started with Hyperlocalized Languages that allowed customers to create their own on-screen languages tailored for their business environment. Both support Coupa’s model of technology that continually conforms to your unique business needs without custom development.
User Reassignment: The only constant in business is change. Select users and easily transfer responsibilities to another person. From pending approvals, to roles, groups and more, administrators can make fully auditable changes in minutes. Changes are applied instantly across all of the applications within the Coupa platform.
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend. We deliver “Value as a Service” by helping our customers maximize their spend under management, achieve significant cost savings and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations representing the Americas, EMEA, and APAC with millions of suppliers globally. The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
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