Coupa Software – Helping Companies to Spend Smarter and Safer.
When there is an idea for a business, it is natural to be conscious about the expenditure as well, as while crafting a new business most of the money is wasted without a spending plan. While some organized businessmen know how to deal with the everyday spending on manufacturing, employment, supply, and other processes, there are several who rely on platforms like business spend management software to take care of all the expenditure on every process of the company. Coupa Software is one of the BSM software developers, most big-name companies rely on for their business spend management solutions. The software by Coupa is cloud-based such that offers maximum flexibility to the business owners to handle their spending with ease and most transparency.
About Coupa Software
Coupa is a sixteen years old company founded in 2006 by Dave Stephens and Noah Eisner. The company headquarters is based in San Mateo, California, U.S., and it provides its services globally. Since the company is operating at a global level, Coupa has established its offices in over 40 countries of Europe, Latin America and the Asia Pacific, and it deals in 140 currencies. Coupa Software develops software in the Business Spend Management category, and its products include spend management software, procurement, invoicing, sourcing, contract management, catalogue management, expense management, etc. As per the 2021 records, over 2500 people are employed by Coupa, and it made approximately US$542 million worth of annual revenues for FY21. Coca-Cola, Nike, Adidas, Amazon, Caterpillar, and Slack are a few of the more than 700 worldwide customers of Coupa.
The Back Story
Dave Stephens and Noah Eisner founded Coupa in 2006 and released its first product, i.e., Coupa Express in the same year. The next year, the company came with Coupa On Demand, a SaaS product, which was dedicatedly made for small and medium, and small size businesses. Coupa’s first spend analysis product named Coupa Spend Optimizer came in the year 2011, and the company also bagged a huge contract from Independent Purchasing Cooperative (IPC) to handle its franchises in 98 countries. By 2014, the company started to expand overseas, opening its first foreign office in Dublin, Ireland. The same year, Coupa Software also introduced the Coupa Inventory and partnered with Net Suite for a strategic partnership.
Coupa also started to acquire other companies to grow its operations. In 2015, it went to acquire the assets of ZenPurchase, InvoiceSmash, and TripScanner. The next year, Coupa acquired Contractually, and in 2020, the company bought LLamasoft. LLamasoft helped the company to integrate AI technology to the supply chain feature in its platform. Coupa went public on Nasdaq in 2016, where it trades as COUP. In the year 2021, Coupa introduced the Sustainable Business Spend Management (BSM) platform.
The CEO at Coupa Software
Rob Bernshteyn is the current CEO at Coupa Software. He is a veteran of the software industry and has handled multiple executive roles at various IT companies in his more than twenty-years-long career.
Rob graduated from the University at Albany with a Bachelor’s of Science in Information System and then went to the Harvard Business School to pursue an MBA in 2000. He started his career at Accenture as the Project Manager of the System Integration Consulting and worked for four years there. Then Rob switched to McKinsey & Company to work as an associate. In June 2001, he joined Siebel Systems as the Director of Product Management, and in June 2004, he became the VP of Global Product Marketing & Management at SuccessFactors. Rob left his last company and switched to Coupa Software, where he held the position of the Chief Executive Officer and the Chairman of the Board of Directors.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.