Coupa, the leading AI-driven source-to-pay platform provider, announced that it has been named a Leader in the 2024 Gartner Magic Quadrant for Source-to-Pay Suites*.
The first-ever Gartner Magic Quadrant for Source-to-Pay (S2P) Suites report evaluated 10 vendors across 15 types of evaluation criteria based on the ability to execute and completeness of vision. Coupa is positioned in the Leaders quadrant, validating our ability to execute, as well as completeness of vision.
“Coupa is the industry’s first and foremost AI-driven source-to-pay platform, spanning sourcing, direct and indirect spend, supply chain, and financial management. We are completely focused on uniting people and companies to operate smarter and grow faster, creating more sustainable, profitable business outcomes. This recognition from Gartner, we feel, is a testament to the quantifiable value our platform delivers for our customers and the exceptional work of our 3,000 global employees,” said Leagh Turner, Coupa CEO. “We’re honored that Gartner has recognized Coupa as a Leader in Source-to-Pay Suites.”
“Businesses of every size are feeling enormous pressures to drive sustained growth and profitability. Coupa provides a transformational, AI-driven platform that automates and connects purchasing, sourcing, supply chain, and financial management, optimizing cash and margins, ensuring controls and compliance, and mitigating risk,” said Fang Chang, chief product officer at Coupa. “For over a decade, businesses have embraced Coupa’s AI-first approach, realizing maximized ROI and building better companies as a result. With Coupa’s AI, you can confidently automate smarter, faster, and more profitable business decisions, outcomes, and growth.”
Novo Nordisk, one of the world’s largest pharmaceutical companies, leverages Coupa to further its mission to defeat diabetes and other chronic illnesses. The company’s previous system made purchasing lab equipment too complicated for researchers, leading to poor user adoption and lack of data transparency. With Coupa, they launched a digital transformation so scientists can source, manage contracts, buy, and pay in an easy way, and have generated €45M in savings annually.
“We’re a bold and ambitious team, and Coupa enables us to deliver on our mission for procurement to support company growth. Coupa is essential to our digital transformation, making us more efficient, collaborative, and innovative. It enables us to fulfill our purpose of driving change to defeat serious chronic diseases,” said Martin Fog, Vice President, Corporate Procurement, Processes & Digitalisation at Novo Nordisk.
SOURCE: PRNewswire