Coupa BSM platform expands ESG support to help
customers comply with German Supply Chain Due Diligence Act
BERLIN, May 17, 2022
/PRNewswire/ -- Coupa Software (NASDAQ: COUP), a leader in Business
Spend Management (BSM), today announced new capabilities to help
companies comply with global regulations, including the German
Supply Chain Due Diligence Act,
Lieferkettensorgfaltspflichtengesetz (LkSG), as well as progress on
Environmental, Social, and Governance (ESG) targets.
Businesses face increasing pressures from investors, consumers,
employees - and now global regulators - to improve sustainability
and social impact, yet a recent Coupa survey revealed that
companies are suffering from data blindspots, preventing them from
fully complying with ESG legislation.
For instance, Germany's Supply
Chain Due Diligence Act comes into force on 1 January 2023 and requires companies with more
than 3,000 employees in Germany to
monitor supply chains for human rights violations and comply with
environmental standards. However, nearly two thirds (65%) of
businesses worldwide said they cannot tell if their closest
suppliers meet ESG standards, and 57% admitted to not having an
effective risk management system in place to ensure ESG integrity
of supply chains.
"CEOs and business leaders possess the will to lead change and
transform the way they conduct business, yet obstacles around data
are causing them to fall short. This is where uniting the power of
spend comes in," said Rob
Bernshteyn, chairman and CEO of Coupa. "A comprehensive
strategy around business spend management that leverages
data-driven insights from the community can equip businesses to
proactively reduce risks, while also becoming more profitable and
purposeful."
Coupa's Sustainable BSM solution helps businesses make more
impactful spend decisions, and new capabilities announced at Coupa
Inspire EMEA 2022 help companies improve sustainability and comply
with ESG regulation.
Businesses will benefit from:
- Tailored Risk Assessment for Supply Chain Due Diligence:
Customers can now request and manage supplier ESG compliance
information specific to the German Supply Chain Due Diligence Act
through a digital assessment, and create reports to submit to
German regulators.
- Visibility into Supplier Risk and Compliance Data:
Customers have full, real-time visibility into supplier health,
risk, and sustainability information when conducting sourcing
events, as well as directly in supply chain digital twins, enabling
proper vetting to ensure compliance.
- Collaboration Across Teams: Customers can operationalize
risk management and embed it throughout procurement, supply chain,
and compliance operations to rid silos. Coupa surfaces
comprehensive supplier risk management information in context of
every single spend decision at the time of decision
making.
"Global regulators have spoken: companies can no longer kick the
can around on ESG. Germany's
Supply Chain Due Diligence Act is particularly strict, causing many
businesses to scurry around to better understand their ESG risk,
and ultimately mitigate it before the January deadline," said
Markus Hornburg, vice president
global product compliance at Coupa. "Several other countries either
already have related legislation, or are seriously considering it,
leaving businesses to make sense of hundreds of nuances. Coupa's
Compliance-as-a-Service offerings solve this pain point for
customers, helping global businesses streamline their approach to
compliance. This gives customers confidence that their brand and
bottom line is protected."
Saint-Gobain, a global manufacturer, leverages Coupa to deliver
on its mission to be the worldwide leader in light and sustainable
construction, and is being recognized at Inspire for its
sustainable supply chain transformation.
"We are on track to achieve carbon neutrality by 2050. Breaking
down silos and improving cross-team collaboration is crucial to
accelerate our growth while having a positive impact on the
environment. Coupa plays an important role in helping us achieve
this goal. We are implementing advanced digital supply chain
optimization schemes to challenge and optimize our CO2 emissions,
operationalize our approach to sustainability, make progress on ESG
standards, and reduce transport-related emissions by an average of
as much as 20%," said Philippe
Boutonnet, director of supply chain excellence at
Saint-Gobain.
"At PwC Germany, we are committed to helping companies implement
the right processes and quality controls to orchestrate their
supply chain end-to end. Coupa's comprehensive approach to business
spend management (BSM), which powers our Smart Network Buying (SMB)
solution, provides a single source of truth to identify hotspots in
supply chains, making it well poised to help companies comply with
regulation across Germany and
Europe. Together with Coupa, we
can help companies prove compliance to make smarter sourcing
decisions, while at the same time bring more efficiency and
resiliency to supply chains," said Jan
Joachim Herrmann, partner at PwC Germany.
"Regulatory changes in many countries increase pressures on
organizations to start making necessary ESG improvements in a
short-term timeframe. To tackle these ESG challenges, it requires a
clear understanding of regulatory requirements and transparency in
a company's supply chain and spend data. This is the baseline to
identify which levers will help them reduce emissions, and develop
a targeted plan to comply with governance, processes, and system
changes for easier monitoring going forward," said Stefan Löchner,
partner at KPMG AG Germany.
For more information, visit
coupa.com/SupplyChainDueDiligence
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. To learn more,
visit coupa.com or follow us on LinkedIn
and Twitter.
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SOURCE Coupa Software