Coupa Software has been busy this past year. Last October, the company announced a new partnership with NetSuite to expand business users’ access to its procurement and expense management tools. Earlier this week, American Express Global Business Travel revealed that it has secured Coupa, along with other B2B service providers, to strengthen its travel and expense managing service as GBT plans to go solo.
On Wednesday (May 6), Coupa made yet another announcement, this time revealing a new way for buyers and suppliers to connect, bringing a new level of transparency and ease in the global supply chain.
New updates to the Coupa Open Business Network will now allow buyers and suppliers to connect without setup fees, a move the company said will level the playing field between large and small suppliers.
“In the ever-evolving realm of B2B eCommerce, companies need solutions to help efficiently manage their global supply chain and day-to-day business,” Coupa vice president of product marketing and management Raja Hammoud said in a statement. “With our enhanced Coupa Open Business Network, all of the world’s businesses, regardless of size, can connect to one another efficiently all with no transaction fees or friction.”
While smaller suppliers are often shut out of the competition thanks to fee-based closed networks, Coupa said, suppliers and manufacturers of any size can now access potential clients. The service also facilitates regulatory compliance and adherence to government mandates, making cross-border deals more accessible.
The updates allow for integration with existing Coupa Spend Management tools, including e-invoicing, procurement and sourcing services, and services the supplier by offering profile customization, guided video tours and easy onboarding without registration or login requirements. The tool is also adaptable for mobile use, Coupa added.
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