Coupa Software, a provider of cloud-based spend management software, made available the Winter ’12 Release of its Coupa Cloud Spend Optimization platform, which consolidates e-procurement and expense management capabilities into a single product for managing all business spending.
Among the enhancements included with the new release are a feature called Coupa Universal Search, which automatically searches across local and online catalogs and returns results under existing negotiated contracts. This eliminates time spent by users looking at multiple Web sites to find what they need, the company says. Coupa Universal Search automatically updates pricing of online catalogs and checks for changes. Companies can use this to audit pricing and ensure that suppliers are adhering to their negotiated pricing.
Another new feature, Auto PO Closure, enables users to close books quickly and accurately. By leveraging the feature, purchase orders will close after periods of inactivity or when they are fully invoiced.
Other enhancements is Smart Release, which allows companies to approve all requisition lines that have been evaluated against contracts, helping to expedite the review process; auto-recalculations of accounting totals to ensure accuracy; and keyboard shortcuts on data tables.
“One ongoing challenge our customers face is to reduce maverick, off-contract spending,” Rob Bernshteyn, CEO of Coupa, said in a statement. “With this in mind, our Winter’12 Release provides new ways to tackle this challenge. Since our solution is 100% cloud-based, our customers can take advantage of this and all of the new features immediately.”
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