Coupa Releases 2018 Business Spend Management Benchmark Report

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Editor Coda
Feb 22, 2018

Coupa Software, a provider of cloud-based business spend management (BSM), has announced the publication of its 2018 benchmark report - 12 Ways To Measure Business Spend Management Success.

The report identifies 12 of the most important key performance indicators (KPIs) in business spend management. It reveals that, in addition to improving process efficiency and compliance, leading organizations can realize savings of up to 9% of their spend under management by digitizing their processes. With spend under management often measuring in the millions or even billions of dollars, percentage savings of this magnitude are significant and show directly on a company’s bottom line.

In compiling the report, Coupa aggregated and analyzed anonymous data compiled by its Community Intelligence from customers that represent the top quartile of performers per KPI in 2017. The KPIs include indicators such as:

  • Requisition-to- Order Time
  • First-Time Match Rate
  • Pre-Approved Spend
  • Realized Savings

The indicators have been assigned across four categories; Process Efficiency, Digitization, Compliance and Savings. 

Since the benchmark analysis uses actual transactional spend data, the results reflect reality and have not been influenced by subjective opinions that can occur in survey-based benchmark reports.

Amit Duvedi, Vice President of Business Strategy at Coupa, said “it’s incredibly valuable to be able to compare your own business spend management performance to leaders in the field/ The report shows the levels that are already being achieved so it is clear what is possible and what organizations should be striving for.”

Alongside identifying levels of savings that are achievable, the report also shows how digitizing spend management has additional benefits such as improving process efficiency and reducing fraud through digitizing purchase order processing and expense reporting.

Duvedi continued by saying “when organizations decide to embark on a business spend management initiative, one of the first things they need to do is define what success looks like, and how it should be measured. Benchmarks are a great resource for that, and the benchmarks presented in this report can help organizations set very specific targets.”

You can read the full report here.

For more information on Coupa visit https://sharespace.digital/supplier/coupa-software-inc 
 

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