Coupa Unveils New AI Capabilities to Enhance Enterprise Productivity and Minimize Spend

Coupa, the margin multiplier company, is debuting a range of new AI-powered capabilities, joining the 100-plus features throughout the Coupa platform. Each of these features serve to optimize operations, enhance productivity, and ease the pains of employee workflows, empowering enterprises to achieve success in a constantly fluctuating market, according to Coupa.

"Our goal to be a margin multiplier for every business, large and small, worldwide requires a relentless focus on co-innovation with our customers. As market dynamics continue to shift and operating capital becomes more limited, companies are searching for more ways to drive profitable, sustainable growth,” said Fang Chang, chief product officer, Coupa. “Coupa's leading total spend management platform underpinned by our community-generated AI gives customers predictive insights, prescriptive decisions, and automated actions needed to drive smarter and more profitable decisions. By replacing archaic processes with Coupa's AI-driven solutions, businesses will run more efficiently, grow more effectively, and operate more confidently."

The first of these AI innovations—Coupa Navi and Contract Intelligence—focus on increasing efficiency and productivity while minimizing risk. 

As a generative AI (GenAI)-based personal agent, Coupa Navi enhances how users interact with the Coupa platform. Designed to rapidly surface document status and approvals, accelerate requests, and serve on-demand knowledge with instant answers to questions, Navi transforms employee productivity for the better, according to Coupa.

Contract Intelligence delivers clause recommendations based on risk information to help reduce exposure. Offering legal agreement summaries, users benefit from contextual information that aids in handling third-party contracts and negotiations.

Additionally, Coupa is introducing several enhancements to its complete, unified platform that centralizes spending categories in one location. These new features include:

• The Coupa Advantage Marketplace, which provides access to a variety of goods from trusted suppliers—including Schäfer Shop, Staples, and Würth—with pre-negotiated rates and financial benefits, helping to improve spend visibility
• Service Maestro advancements that enable users to create, view, and manage contingent worker records and assignments for greater visibility into services spend

"Our September release, and each of our product releases, drives the Coupa platform forward so our customers can reach their ambitious goals. We continue to invest in new and powerful AI use cases, which gives our customers a disproportionate advantage to achieving top-line growth and bottom-line performance gains," added Chang.

According to Jake Shearer, category manager at Air Methods, an air medical transport provider and Coupa customer, "Coupa's Advantage program has been instrumental in helping Air Methods increase savings and operational efficiencies across our unique complex supply chain and procurement processes. By partnering with Coupa Advantage suppliers, we've achieved more than $500K in annualized savings, 100% PO-based spend with Advantage suppliers, and a significant consolidation in tail spend all in the first year. We look forward to using the new Coupa Advantage Marketplace to further optimize our tail spend and increase savings."

To learn more about Coupa, please visit https://www.coupa.com/.