Leading business spend management solutions provider Coupa Software, announced today the launch of new product innovations, designed to enable organizations to maximize ESG impact through their spend.
The Sustainable Business Spend Management (BSM) platform helps leaders of the supply chain, sourcing, procurement, and finance run their businesses efficiently while benefitting the environment. The platform allows businesses to use AI to model supply chain scenarios, optimize their business operations and make better decisions in the long run. BSM can also help organizations get better at managing water consumption and reduce the use of plastic.
Donna Wilczek, senior VP of Product Strategy & Innovation at Coupa, said:
‘’Companies have the power to drive sustainable impact with how they spend their money, such as choosing to buy from diverse suppliers or designing a transportation network that reduces carbon footprint.’’
The BSM platform allows organizations to use visual tags on supplier records to recognize whether the supplier/product comes from a sustainable business. Users can also use filter search to see suppliers or items from diverse or sustainable businesses. Coupa’s platform is equipped with supplier diversity and sustainability data coming from a wide variety of sources, suppliers, and certifications.
New Suppliers get onboarded onto Coupa’s BSM platform through a guided path that helps them get easily discovered. The diverse suppliers are also given a diversity status which makes it easier for organizations to find them. There are also New Coupa Analytics that help organizations measure success as opposed to their goals.
Organizations also receive information on the number of funds they spend that comes from diverse-owned suppliers. Coupa also launched a Diversity Dashboard that helps businesses measure the impact they are making on ESG. The new dashboard shows the impact of e-voicing and e-purchasing on the environment, including the amount water, oil and, carbon emissions saved by going paperless.