Tech Intelligence Bulletin – Coupa Software has partnered with SourceDay, a leading provider of supplier collaboration software, to offer supplier collaboration capabilities for purchase orders in the Coupa Business Spend Management (BSM) Platform.
Coupa certified SourceDay for use within its cloud-based platform that empowers companies around the world with the visibility and control they need to spend smarter. The SourceDay and Coupa integration allows organizations to collaborate with suppliers on purchase orders and enables manufacturers, distributors, and product companies to control their spend while building resilience into their supply chains for critical parts and materials. The result is a unified supply chain planning and collaboration system across all suppliers: direct, indirect, and hybrid. The integrated solution is available immediately for existing and prospective joint customers.
Supplier network collaboration
“With the current economic climate, having increased control of your supply chain is more critical than ever,” said Roger Goulart, senior vice president of Business Development and Alliances at Coupa. “We’re proud to integrate with SourceDay to give our customers even greater flexibility and choice of supplier network collaboration in order to grow and accelerate delivered value.”
As a certified CoupaLink solution, SourceDay meets the requirements established by Coupa through its CoupaLink Certified Technology program. The CoupaLink program enables software partners to build complementary solutions that easily connect into the Coupa platform. Customers benefit by optimizing their business spend and reducing business risk while reducing the cost of third party software integration.
Impact of COVID-19
“COVID-19 has reinforced how crucial it is for businesses to control business spend while also building more resilient supply chains,” said Tom Kieley, CEO, SourceDay. “Our partnership with Coupa gives modern businesses an easy way to achieve both outcomes in one, integrated solution. Together we’ll help joint customers save more money, meet more customer commitments, and establish supplier performance as a competitive edge.”
COVID-19 has also impacted on the Q3 2020 Outlook findings of Coupa’s Business Spend Index (BSI). The Coupa BSI analyzes billions of dollars of aggregated and anonymized business spend decisions, which serves as an early indicator of macroeconomic health over the next three to six months. The Q3 Outlook revealed that business spend sentiment recovered modestly (an increase of 9.6 percent), suggesting that while current confidence is still well below trend, businesses are showing early signs of optimism around the economic outlook.
Businesses remain cautious
Following a quarter of contracted corporate spending, the Coupa BSI shows that businesses began adjusting to the ‘new normal’ last quarter. Though still cautious about the global economic outlook, sector data indicates that financial services, high tech, and to a lesser degree, retail showed slight improvement quarter-over-quarter. “The Q3 BSI indicates that businesses are showing early signs of improvement after making drastic spending cuts in the beginning of the pandemic, likely in response to an overcorrection and loosening of lockdowns in some states,” said Jeff Collins, chief economist at Coupa. “However, despite the slight rebound, our analysis indicates that confidence in the economy is still low, suggesting businesses will remain cautious for at least the next three to six months.”