Helping procurement and supply chain teams
future-proof their businesses and reduce risk
ATLANTA, Sept. 26,
2023 /PRNewswire/ -- As companies continue to wrestle
with supply chain risks jeopardizing their business-critical
revenue streams, Coupa Software, a leader in Business Spend
Management (BSM), today announced a new solution to improve supply
assurance and business continuity.
Coupa's Supply Chain Collaboration empowers companies to avoid
risk while driving profitability, increasing agility, and improving
communication between buyers and suppliers. Coupa's unified
platform drives agility, transparency, and resiliency across supply
chains, so products and materials are where and when they're
needed.
This new solution creates better collaboration between teams and
suppliers and provides the ability to quickly assess sourcing
alternatives and balance trade-offs ranging from changes to
delivery dates to item quantity.
"Ensuring supply chain continuity is a top priority for
businesses everywhere. We heard from companies around the globe
that existing market solutions for supply chain collaboration were
falling down. Forcing companies to resort to spreadsheets and
emails to track critical supply that would keep factories running
and retail stores operating," said Raja
Hammoud, executive vice president of products at Coupa.
"Those days are over. Coupa Supply Chain Collaboration was
co-innovated with the world's leading supply chain companies to
deliver modern, consumerized experiences and effortless
collaboration between businesses and all their trading
partners."
Coupa's new Supply Chain Collaboration Suite will help
businesses with purchasing, forecasting, inventory, and quality
control as the suite expands. Key benefits available today
include:
- Streamlined Communication: Through real-time
communication supply chain planners and suppliers can easily share
instant updates to quality, price, delivery dates, and more to
avoid unwanted surprises or delays.
- Intuitive, Unified Approach: Integrates with ERP, MRP,
and Supply Chain Planning solutions to provide a connected, unified
view to all suppliers/trading partners and buyers.
- Improved Working Capital: With more predictable
operations, businesses can reduce inventory carrying costs and
minimize carrying excess capacity due to unplanned downtime to
better optimize working capital through a single platform for
direct and indirect spend.
- Increased Agility: With real-time notifications and
alerts, businesses can act smarter and faster to resolve issues for
direct materials without time-consuming, error-prone manual
reviews.
"Supply chains are highly complex and current collaboration
technologies aren't always easy to use, leaving many businesses no
choice but to rely on manual approaches and phone calls," said
Simon Ellis, Group VP at IDC.
"Seamless collaboration is critical to effective supply chain
management and resiliency. Organizations need full visibility into
both their suppliers' operations and their own, as well as a simple
method for working together. Coupa has a history of prioritizing
user adoption with easy-to-use tools to drive efficiencies and
savings and this suite is no different."
Purchase Order (PO) Collaboration, the first component of the
solution that is now generally available, ensures supply assurance
by providing bidirectional visibility into POs for planners and
suppliers. Suppliers can confirm quantities, prices, and promise
dates at a line-item level. This ensures buyers and suppliers have
accurate, real-time information while automatically communicating
any necessary actions. The entire purchase order lifecycle from PO
generation to advanced shipping notice to receipt of goods is
managed through Coupa's platform.
To learn more about how Coupa can help you improve your business
continuity, visit www.coupa.com.
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