Global companies in world’s second largest economy to manage more of their spend on Coupa’s unified platform
SAN MATEO, Calif., Nov. 07, 2017 (GLOBE NEWSWIRE) -- Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, announced today that it formed a strategic alliance with China-based Aisino Corporation to help global companies with branches in the world’s second largest economy manage their spend on Coupa’s unified platform.
The alliance will help enable multinational companies in China to manage their spend – including tax invoice issuances – with Coupa’s Procure-to-Pay solution. Currently, many global companies with offices in China process their tax invoicing outside of a spend software platform because China requires businesses to issue every invoice via its closed authorized tax invoice issuance program as part of the Golden Tax program.
The cloud tax alliance will help global customers manage their tax invoices via Aisino on Coupa’s unified platform while still being able to meet the tax reporting requirements of the Chinese government.
“Our international customers want to streamline their global spend processes in China, and we are fulfilling their request by forming this alliance with Aisino – the only one of its kind in the world’s second largest economy,” said Roger Goulart, senior vice president of business development and alliances at Coupa.
Under this arrangement, Aisino and Coupa will build joint enterprise solutions and products - from invoice to tax management and financial management – to streamline spend for multinational companies in China.
“Aisino has chosen Coupa to join this cloud tax strategic alliance based on the company’s successful track record in other parts of the world and also its early successes in China,” said Jianjian Wang, senior executive who works in the Golden Tax and Enterprise Market Central Division at Aisino. “Both companies will bring to this collaboration their collective business expertise to create a one-stop-shop experience for customers.”
“Having been invited to join Aisino´s cloud tax strategic alliance as the only foreign service provider is a great honor for Coupa and testament to the superior purchase-to-pay processes we have built over the past years," said Markus Hornburg, vice president of global product compliance at Coupa. “This will help enhance our reach and deliver tangible value for our customer base in one of the most complex tax systems in the world.”
This release includes forward-looking statements. All statements other than statements of historical facts, including the proposed benefits and capabilities of the strategic alliance with Aisino, are forward-looking statements. These forward-looking statements are based on Coupa’s current expectations and projections about future events and trends that Coupa believes may affect its financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs.
These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially, including: we have a limited operating history, which makes it difficult to predict our future operating results; if we are unable to attract new customers, the growth of our revenues will be adversely affected; because our platform is sold to large enterprises with complex operating environments, we encounter long and unpredictable sales cycles; if we fail to develop widespread brand awareness cost-effectively, our business may suffer; the markets in which we participate are intensely competitive; our business depends substantially on our customers renewing their subscriptions and purchasing additional subscriptions from us; any decline in our customer renewals would harm our future operating results; because we recognize subscription revenues over the term of the contract, fluctuations in new sales will not be immediately reflected in our operating results and may be difficult to discern; and we have experienced rapid growth in recent periods, and if we fail to manage our growth effectively, we may be unable to execute our business plan, maintain high levels of service or adequately address competitive challenges.
These and other risks and uncertainties that could affect Coupa’s future results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Coupa’s quarterly report on Form 10-Q filed with the SEC on September 8, 2017, which is available at investors.coupa.com and on the SEC’s website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings Coupa makes with the SEC from time to time.
The forward-looking statements in this release reflect Coupa’s expectations as of the date hereof. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
About Coupa Software
Coupa 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 LinkedIn at https://www.linkedin.com/company/99595/.
Orlando De Bruce
Global Public Relations
O (650) 485-8629
Coupa Software Incorporated