SAN MATEO, Calif., Feb. 15, 2022 /PRNewswire/ -- Coupa Software /zigman2/quotes/209884077/composite COUP +8.20% , a leader in Business Spend Management (BSM), today launched Coupa Travel and Expense, a fully unified solution that transforms traveler experience and delivers real-time travel spend optimization.
For too long, legacy T&E products have missed the mark on both enjoyable travel experiences and the optimization of travel spend dollars. Siloed tools and poor user engagement make it challenging for organizations to get visibility and control in today's dynamic travel environment.
The new T&E solution is the latest in Coupa's continuous wave of first-to-market innovations in Business Spend Management. This new solution is distinct from anything else in the industry today because of three key components:
User-Centric Experience : User-friendly design accelerates adoption while reducing program management headaches and eliminating the need for travelers to book off-channel.
Unified T&E Management : Comprehensive T&E management leverages a single, seamless solution that eliminates silos and optimizes every dollar spent by integrating across the BSM platform.
Community-Driven Insights: AI-powered insights from Coupa's $3T+ of anonymized global community spend data provide intelligent travel prescriptions, savings opportunities, and business benchmarks.
"We've built Coupa Travel and Expense with our customers from the ground up with empathy and understanding of the traveler and the back office," said Raja Hammoud, executive vice president of products at Coupa. "By understanding the end-to-end corporate travel journey, we're eliminating the pain for companies' reliance on a patchwork of siloed legacy tools. When we add the power of insights driven by our global community, we deliver a radically different solution that transforms corporate travel to be simpler, smarter, and more sustainable."
This holistic approach to travel and expense is a key differentiator for Coupa.
"With Coupa's new T&E solution, the company is showing they understand the needs of the market," said Kevin Permenter, research director, Financial Applications, at IDC. "By applying AI across their $3T in business spend, Coupa is well-positioned to identify new ways for organizations to simultaneously maximize travel spend, decrease carbon impact, and reduce risk. And, with their focus on user-centric design, we expect business travelers and finance teams will cheer this new, smarter alternative for T&E."
This viewpoint is backed up by the 2022 trends in corporate travel. While 75% of travel managers anticipate greater travel this year compared to 2021, CFOs want to maintain the cost savings they experienced when corporate travel was significantly reduced because of COVID-19. A recent report from Deloitte predicts that CFOs will scrutinize closely their travel spend and ROI – and Coupa's AI-based Business Spend Management platform is key to that effort.
New travel management capabilities in the Coupa solution include:
Smart Itineraries : Personalized, intelligent trip itineraries customized to balance traveler preferences with company policy and priorities.
Travel Saver : Real-time price tracking for all airline and hotel bookings to capture significant savings when prices drop.
Spend Coach : Encouragement of smart spending by providing employees who expense non-travel related items with insight into how much money they would save by booking off of company contracts.
Dynamic Messages : Timely health and safety messages to travelers based on their itinerary.
Built-in Savings : Integrated savings for thousands of airlines, hotels, rideshare providers, and rental car brands via Coupa Advantage.
24/7/365 Traveler Support : Around-the-clock live agent assistance for travelers to support their global travels.
Learn more about Coupa Travel and Expense – www.coupa.com/products/travel-expense-management .
About Coupa Software
Coupa is the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions. Coupa empowers organizations around the world to maximize value and operationalize purpose through their business spend. Visit coupa.com and follow us on LinkedIn or Twitter.
SOURCE Coupa Software
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