That insight can be easily and quickly shared among clients, giving companies the opportunity to restock and capitalize on the decreased prices. So, say a supplier of paper clips lowers its costs. The concept is quite simple: Customers share anonymized data on their spending that can then be analyzed to help others make more informed decisions. "But if a customer understands the vision of what we are playing for, which is managing all business spending on one platform, we really don't have competition."Ĭoupa also has a secret weapon in what Bernshteyn calls "community intelligence." "We may have little point-solution competitors around the periphery," he said. Instead, Bernshteyn's hoping that customers choose Coupa as an added upgrade and, eventually, one of the "four-to-five key systems of record." Among the existing customer base, for example, 60% still use SAP or Oracle. Ultimately, Bernshteyn says he is not trying to supplant all of the products from SAP, Oracle and others that still underpin most large organizations. It recently hired former Salesforce exec John Wookey to improve products like Ariba, which the firm says hosts $3.75 trillion in annual transactions across more than 5 million companies. SAP appears to recognize the potential threat. House of Representatives, part of a growing focus on the public sector. (Conversely, the bulk of Coupa's product line runs on Amazon Web Services, the ecommerce giant's cloud service.) Coupa also recently signed a deal with the U.S. Amazon alone manages $24 billion per year on Coupa's platform, per Bernshteyn. institutions that any software company would love to have on their customer roster - as well as convenience store chain Casey's, DHL and others. It's very difficult to reconfigure."Ĭoupa already touts Amazon and Walmart as clients - two bedrock U.S. It's a 1995 code line that's being hosted. "We've replaced Ariba 100-something times," he said. But for Bernshteyn, products from SAP and others are older, lack innovation and only address a fraction of the overall customer need. It also has its own expense management platform known as Concur. SAP, for example, has Ariba, a procurement marketplace that competes against Coupa's Open Buy.
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