Customers are optimizing sourcing and adaptive supply chain strategies with Coupa; realizing $221 billion in cost savings and margin improvements

FOSTER CITY, Calif., Dec. 5, 2024 /PRNewswire/ -- Coupa's growing community of more than 3,000 global brands have realized more than $221 billion in savings to-date, and nearly $17 billion savings in the fiscal third quarter alone. By leveraging Coupa's leading AI total spend management platform, customers are benefiting from more favorable supplier, sourcing, and supply chain design and planning strategies – driving down costs to improve profit margins.

"Coupa's goal is ambitious. We're building a network that will underpin the future of global trade, where supply and demand is matched autonomously in real time, unlocking new growth opportunities for millions of buyers and suppliers. Our unmatched network of 10 million buyers and suppliers grows every day along with the $7 trillion dataset that grows with their transactions every year. All of this is informing our community-generated AI that gets smarter by the minute so that businesses can accelerate efficiency and growth plans, de-risk their future, and become more resilient to build a better tomorrow, together," said Leagh Turner, Coupa CEO.

"Coupa's ambitions are turned into actions by the most powerful team, technology, and community that I've ever seen. The business is accelerating, innovating, and growing. We've maintained a 95% gross retention rate and we are on track to deliver approximately 40% EBITDA margins for the year. And, we continue to deliver tangible value to our customers that helps them improve margins," continued Turner.

"We want procurement to be an almost invisible support. End-users don't need to think about who to contact or how to buy. That's where Coupa comes in and why it's so powerful for our business," said Bernard Hardy, Procurement Excellence Director at AkzoNobel, a leading supplier of sustainable and innovative paints and coatings for customers around the world. Read more on AkzoNobel's story here.

Coupa community highlights for the third fiscal quarter include:

• 380+ global businesses initiated or expanded their partnership with Coupa. New wins for the quarter include the American Residential Services, Bugaboo International, Nextracker, San Francisco Giants, Swiss Life Germany, Swiss Steel Group, Viña Concha y Toro, and Yamaha Motor Company.
  
• 128% QOQ new bookings growth in Coupa's supply chain business, welcoming several new customers and renewing multiple leading brands.
  
• Customers realized 276% ROI within three years and achieved more than 3x the financial benefit with a payback within 10 months, according to a 2024 Total Economic Impact Study from Forrester Research quantifying the business value delivered by Coupa.
  
• Coupa's global community event Inspire will highlight the company's "Margin Multiplier Effect," held in Las Vegas on May 12-15, 2025 and followed by a series of World Tour events in Frankfurt, London, Sydney, São Paulo, and Tokyo throughout the year. At these events, procurement, finance, supply chain, and IT professionals can learn from industry peers with curated learning and networking journeys.
  
• Coupa's AI-driven total spend management platform continues to be recognized by leading analyst firms for its innovative use of AI, automation, customer centricity, and compliance.

• • Forrester Research named Coupa a Leader in The Forrester Wave: Collaborative Supply Networks, Q4 2024 and a Leader in The Forrester Wave: Supplier Value Management (SVM) Platforms, Q3 2024.
    
  • IDC named Coupa a Leader in the IDC MarketScape: European Compliant e-Invoicing 2024 Vendor Assessment and a Leader in the IDC MarketScape: Worldwide Supply Chain Planning for Process Industries 2024 Vendor Assessment.

• 500+ Coupanians stepped up to make positive change during Coupa's Global Impact Week. Across 13 countries and 38 events, employees ran, walked, and biked over 3,500 miles, contributing a donation to Guide Dogs for the Blind, World Vision, and the American Red Cross. Additional organizations that employees supported by donating funds and their time include SuitUp, The Dublin Society for Prevention of Cruelty to Animals, Clean up the Arakawa River in Tokyo, and local food banks in Bogota, Atlanta, and NYC. On Giving Tuesday, Coupa matched employee donations 200%.
  
• Coupa recently welcomed seasoned technology and industry leaders to its leadership team, including:

• • Michael Agresta joined as Chief Financial Officer
    
  • John Frank joined as Chief Customer Officer
    
  • Salvatore Lombardo joined as Chief Product and Technology Officer

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).

SOURCE Coupa Software