Coupa turns business insights into action with artificial intelligence

Coupa Software has launched a set of next-gen spend management innovations to help organisations turn insights into actions under the umbrella of Community.ai.

The B2B software company offers users a comprehensive platform to manage their company’s transactions across procurement, finance, and supply chain.

By combining data-driven artificial intelligence with person-to-person connections, Community.ai is set to transform B2B communities and how buyers and sellers interact.

Underpinning the initiative is the massive amount of data generated every day from more than 2,000 global customers, with Coupa’s platform having processed over $3+ trillion of cumulative spend from its business spend management (BSM) community.

“Community.ai gives our growing community of customers valuable business insights at an unparalleled scale and speed,” said Rob Bernshteyn, chairman and CEO of Coupa.

“We’re not just imagining a better business community, we’re building one with our customers. And as our community grows, we believe it will continue to become exponentially smarter and more valuable for everyone that’s part of it,” Bernshteyn said.

Coupa said it aims to take the best parts of both worlds and combe them into one unified next-gen community where human connections are made directly in the context of spend business processes.

“A leap forward not just for the BSM industry, but for all enterprise software,” the company said.

All of this combines to help businesses to discover deeper insights, make better decisions, grow ESG impact, and supporting mutual success with peers around the world.

Community.ai allows businesses to leverage insights from over US$3 trillion of anonymised spend data to identify effective ways to reduce risk, increase efficiency, and be more profitable.

Users can also meaningful change by empowering teams with the right information at the right time through in-context, actionable prescriptions.

On pursuing sustainability, the new initiative helps create broader impact and operationalise purpose by identifying risks and opportunities around company Environmental, Social, and Governance (ESG) practices.

Community.ai is also designed to build deeper connections with peers around the world, and tap into collective knowledge and spend power to drive better business results.

“Coupa is the first provider in the business spend management sector to actually win deals on the power of embedded community benchmarks for procure-to-pay,” said Jason Busch, Founder of Spend Matters.

“The extension of permission-based, opt-in community benchmarks to embedded performance feedback, operational support, prescriptive recommendations, and a social business platform across source-to-pay and adjacencies can help Coupa further differentiate its suite,” Busch said.

“We can’t wait to see how Community.ai continues to evolve.”