Coupa Surpasses 100 Issued and Pending U.S. Patents
Company reaches milestone in patent program, highlighting its position as the technology innovation leader in Business Spend Management
SAN MATEO, Calif., July 15, 2021 /PRNewswire/ -- Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), announced the achievement of more than 100 issued and pending patents filed with the United States Patent and Trademark Office. This milestone substantiates the company's commitment to building the most innovative cloud platform to help businesses maximize the value of every dollar they spend with Business Spend Management.
"Innovation is core to our culture and drives our focus on delivering value to the BSM Community every day. By partnering with our community to spur new innovations, we're helping customers maximize agility, resilience, and growth," said Rob Bernshteyn, chairman and CEO at Coupa. "Reaching this important milestone is a demonstration of our leadership in BSM and reinforces our commitment to continuing to set the innovation agenda for the industry."
"We see Coupa continually co-innovating their product with their customer community while also setting the pace of innovation around Business Spend Management and following the money trail with the spend and supply base," said Mickey North Rizza, program vice president for Enterprise Applications and Digital Commerce research practice at IDC. "IDC has evaluated Coupa's platform many times through the years and recently named them as a leader for both capabilities and strategy in the IDC MarketScape for Procure-to-Pay."
Coupa's product strategy includes rapidly weaving innovation through three customer value-producing 'waves'. Its pending and issued patents span all aspects of Coupa's technology throughout the three waves, including:
Wave 1: Innovations in this wave help customers capture all spend through Coupa's cloud-based, highly scalable transactional core of applications – Procurement, Invoicing, Payments, and Expenses.
Wave 2: Innovations in this wave help customers optimize every dollar spent by leveraging comprehensive Suite Synergy within the Coupa platform, where power user applications and the transactional core connect with each other to break down silos and deliver better spend visibility, control, and compliance.
Wave 3: Innovations in this wave help Coupa amplify the value for each BSM customer through an industry-unique model that applies AI to aggregated, normalized, and anonymized customer community data.
"Coupa is constantly innovating on behalf of its community," said Jaime Robles, chief procurement officer at Casey's General Store. "Not only do they listen to and address customer feedback, as customers we feel truly part of the innovation process. We are confident that new features and capabilities added to Coupa's BSM platform with each new release bring real value to our spend management processes."
Coupa's patent program works with employees throughout the full lifecycle of ideation, with patentable technology included in each of Coupa's three major software releases per year.
"Our ethos for innovation is: None of us is as smart as all of us," said Raja Hammoud, executive vice president of products at Coupa. "We believe that novel ideas can come from anywhere, that creativity should be fostered, and that the best approach to problem-solving is through collaborative, diverse perspectives. We encourage everyone at Coupa, across all levels and departments, to become an inventor as part of our patent program."
To learn more about Coupa's market leading innovation approach and patent program, visit https://www.coupa.com/innovation.
About Coupa Software
Coupa empowers companies around the world with the visibility and control they need to spend smarter and safer. To learn more about how Coupa can help you spend smarter, visit http://www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
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SOURCE Coupa Software
Company Codes: NASDAQ-NMS:COUP
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