Coupa Announces General Availability of InvoiceSmash Application
May 18 2017 - 11:35AM
Coupa Software (NASDAQ:COUP), a leader in cloud-based spend
management, today announced the general availability of
InvoiceSmash, which is a new unified application within its spend
management platform. The application helps make processing supplier
invoices faster, easier, and less expensive than is currently
possible with legacy optical character recognition (OCR) solutions,
while also improving compliance, data quality and supplier
participation.
Coupa takes the next step in transforming B2B commerce by
further reducing the need for expensive supplier enablement
initiatives and strengthening the way the world’s businesses use
Coupa Invoicing and the Coupa Open Business Network™ for their
e-invoicing transactions.
“We continue to collaborate with our customers to achieve our
goal of continually reducing AP costs through forward-thinking
approaches to automating accounts payable and e-invoicing,” said
Raja Hammoud, vice president of product marketing and management at
Coupa. “Our customers are always inspiring us to improve and
deliver innovations to drive measurable value for their
organizations, and InvoiceSmash is a direct result of that.”
The solution’s closed-loop learning capabilities detect supplier
invoice format changes, and automatically create smarter templates
for future invoices. The Coupa system grows smarter, increasing
Coupa community intelligence, after a new supplier invoice format
appears. New invoices from any customer are then processed faster
and more accurately because of the power of this community
intelligence.
In today’s world of B2B commerce, extended global enterprises
need modernized solutions to efficiently manage supplier
transactions while staying compliant with local government
requirements. These businesses also want to transact with one
another quickly, without fees, paper or friction, which impact the
overall cost of doing business. Coupa’s model of delivering
e-invoicing compliant systems as a fully managed service delivers
on this promise.
InvoiceSmash’s cloud-based technology has innovative closed-loop
learning capabilities that extend Coupa’s Invoicing solution by
instantly converting emailed invoices from suppliers into the
digital format required for the buyer’s accounts payable
process.
As Coupa brings these innovations to market, supplier enablement
efforts and invoice processing costs will decrease as buyers and
suppliers gain instant connectivity and the freedom to interact
using their preferred processes and without supplier registration
or fees via the Coupa Open Business Network™. Finance and Treasury
also get the added benefit of enhancing working capital and
additional days to apply early payment discount terms to earn a
return on payables.
Innovative Accounts Payable & e-Invoicing
Technology Designed to help organizations of all sizes
digitize and automate the often painful accounts payable and
invoicing process, InvoiceSmash is a unified application available
within Coupa’s cloud-based platform to instantly convert emailed
invoice attachments into the field formats required by Accounts
Payable organizations.
The Coupa Open Business Network™ With no fees
or friction, the Coupa Open Business Network™ instantly connects
the world’s businesses, providing customers with both the
flexibility and freedom they want to transact with their direct and
indirect suppliers. Today, more than 3 million suppliers connect to
Coupa customers to easily collaborate and transact.
By incorporating InvoiceSmash into the Coupa platform, emailed
invoice attachments that currently flow freely through the Coupa
Open Business Network™ AP Inbox functionality will be able to
process automatically, resulting in more accurate and timely
invoice processing.
With faster invoice processing times, finance teams benefit by
gaining additional days to support their cash flow management
initiatives, and the ability to maximize supplier discounts and
earn a return on their payables through the power of Coupa’s
dynamic discount support. Customers can also benefit by increasing
e-invoicing connectivity with more of their suppliers without the
pain and cost of extensive supplier enablement projects or having
to use OCR systems to manually scan and digitize invoices.
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 3 million suppliers and delivers a
powerful solution for businesses committed to controlling their
spend.
About Coupa SoftwareCoupa 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.
Media inquiries:
Orlando De Bruce
Coupa Software
Global Public Relations
orlando.debruce@coupa.com
O (650) 485-8629
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