Expands spend management offering with real-time RFP processes and rapid supplier onboarding, accelerating customer time-to-value
SAN MATEO, Calif.–(BUSINESS WIRE)–February 10, 2015–
Coupa Software, the leading provider of cloud-based spend management solutions, today announced the acquisition of San Francisco-based ZenPurchase, a collaborative enterprise procurement software company. The acquisition of ZenPurchase furthers Coupa’s mission to deliver savings-as-a-service through increased efficiencies, which drives business impact.
ZenPurchase’s cloud-based purchasing platform uses unique team collaboration technologies to modernize procurement departments and accelerate the RFP process. Designed to help Fortune 1000 customers simplify the painful procurement process, ZenPurchase’s platform delivers simplicity and speed, compared to legacy solutions. By focusing on straightforward design, ZenPurchase facilitates higher visibility and engagement in the RFP process as well as faster onboarding than suppliers get with traditional solutions.
Coupa will build ZenPurchase’s innovations into its organic cloud-based platform, applying them across all facets of procurement, expense management and invoicing. The resulting technology will enhance real-time collaboration across multiple products in Coupa’s single, easy to use web-based platform.
“Like Coupa, ZenPurchase was founded with the belief that traditional procurement systems were far too complicated for companies to adopt them across their organizations,” said Rob Bernshteyn, CEO at Coupa. “The addition of ZenPurchase’s team and technology will strengthen our products and deliver key capabilities that Coupa customers can use to drive real savings and enhance their company profitability.”
The ZenPurchase team has joined Coupa and will continue their development of forward-thinking approaches to procurement. They will be instrumental as Coupa continues to deliver simplified processes around spend management, accelerating time-to-value and saving money for companies of all sizes.
“We built ZenPurchase because we knew that the procurement function can be a top source of competitive advantage for today’s companies,” said Sunny Manivannan, co-founder and CEO of ZenPurchase. “But capturing that advantage requires enterprise procurement tools that are as frictionless and transparent as consumer purchasing. We’re thrilled at the opportunity to help Coupa create real success for its customers around the globe.”
About Coupa Software
Coupa Software is the leading provider of cloud-based spend management solutions. More than 450 customers in over 40 countries use the Coupa suite of financial applications to support business agility and reduce costs. Only Coupa provides a suite of true cloud applications for finance, including accounts payable, sourcing, procurement and expense management that allows customers to realize a return on their investment within a few months and savings that continually impact the bottom line. Learn more at www.coupa.com. Read more at our company blog, Making Cents or follow @Coupa on Twitter.
Voce for Coupa Software
Katie Page, 206-770-7027