LAS VEGAS, June 25, 2019 /PRNewswire/ -- Today, Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), announced an expanded relationship with Amazon Web Services (AWS) to empower CIOs with more control over their IT spend. IT teams can now search, purchase, deploy, pay, and manage thousands of software products in AWS Marketplace using Coupa, giving them instant budget visibility and control in one place to spend smarter and simpler.
Global IT spend is down 3.2 percent from a growth rate projected in January 20191, according to Gartner Research. As CIOs are tasked to do more with less and be strategic advisors to their businesses, Coupa is expanding its relationship with AWS to empower CIOs with better control over their organization's software spend throughout the entire buying process – from search to post-purchase – without compromising speed.
"As more companies move their infrastructure and applications to the cloud, their IT leaders need to empower builders while optimizing IT spend with subscription models that can reduce costs," said Dave McCann, vice president, AWS Marketplace and Catalog Services at Amazon Web Services, Inc. "We're pleased to expand our relationship with Coupa as they empower our shared customers to innovate faster by utilizing AWS Marketplace and Coupa to search for, purchase, deploy, pay for, and govern software across teams and functions."
Aon, an early adopter of the Coupa Open Buy with AWS Marketplace solution, is using this capability to improve workflows across teams and empower their builders to innovate quicker for their clients. "As a large global enterprise with multiple business units, we need to govern software procurement and IT spend as we move to the cloud," said Rajeev Khanna, chief technology officer and senior vice president IT Platform Services at Aon. "With Coupa and the breadth of solutions available on AWS Marketplace, our builders can find and choose the best software for their needs, and our IT leaders can use Coupa to approve terms and compliance quickly. The combination gives us more governance and better visibility into software procurement, while letting our builders innovate."
"CIOs often struggle to get control of IT spending that is happening in different departments and systems across the company because of siloed purchases and processes," said Rob Bernshteyn, chairman and chief executive officer at Coupa. "By running the entire AWS Marketplace purchase process from search through payment and beyond on the Coupa platform, IT leaders can now bring order to this spend. By working with AWS, we are putting CIOs back in the driver's seat, giving them the visibility and control to make smart purchases that impact their business strategy and bottom line."
This relationship is powered by the same technology as Coupa Open Buy with Amazon Business that is used by many customers to help provide an easy connection with AWS Marketplace.
How It Works: Innovative Real-Time Search through Payment Process
Coupa empowers IT leaders to have more control of their software and subscriptions spend as part of their broader BSM strategy. Coupa manages the end-to-end search-to-pay and post-payment processes for software purchases:
- Search: Using Coupa's Open Buy technology, users can easily type in the software or service they are looking to purchase and instantly retrieve AWS Marketplace results. Coupa facilitates the request process.
- Purchase: Coupa combines checkout, approvals, and reporting in one place to improve visibility, compliance, and save time. Coupa automatically applies budget checks and approval workflows to the request.
- Deploy: Upon request approval, Coupa seamlessly transmits the order to AWS Marketplace for provisioning.
- Pay: Coupa processes the subsequent AWS invoices from approvals through payment with Coupa Pay.
- Manage: Users can customize and control their procurement policies, approval processes, and post-purchase spend management directly through the Coupa BSM Platform.
First announced in December 2015, Coupa's collaboration with Amazon Business has grown with market innovations from Coupa Open Buy with Amazon Business, to AWS Marketplace availability of Coupa BSM solutions, and Coupa touchless invoice processing for AWS invoices. For more information about Coupa, click here.
About Coupa Software
Coupa Software is a leading provider of BSM solutions. We offer a comprehensive, cloud-based BSM platform that has connected hundreds of organizations with more than five million suppliers globally. Our platform provides greater visibility into and control over how companies spend money. Using our platform, businesses are able to achieve real, measurable value and savings that drive their profitability. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
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SOURCE Coupa Software
Stefanie Gordish, 415-590-9722