Initiative reimagines B2B communities by connecting users to data and one another
Coupa Software, a leader in Business Spend Management (BSM), 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.
Top iTechnology Security News: ThycoticCentrify is Now Delinea, a PAM Leader Providing Seamless Security for Hybrid Enterprises
“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 D******* Insights: Review realized and missed early payment d******* 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.
Top iTechnology Automation News: Lit Fibre Leads in the UK With Launch of Software-Defined Calix Intelligent Access EDGE Network
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.”
Top iTechnology Cloud News: CUBE and LogicGate Partner for Comprehensive Regulatory Compliance Solution
[To share your insights with us, please write to sghosh@martechseries.com]
