COUPA
than a decade when it was known as community intelligence .
“ By having permission-based access to anonymized customer data , we have been able to create a data moat that is bigger than anything that I ’ m aware of in the world ,” he adds .
This allows customers to benchmark performance against key metrics and leverage the insight from that data to boost their own performance .
“ It ’ s structured , controlled , reliable , governed data . Real companies doing real business with real suppliers , and we ’ ve been doing this for over a decade ,” says Michael .
“ What AI is going to do for us in procurement is that the more repetitive tasks will all be replaced by AI . That includes things like category management , contract reviews , red-lining and sourcing . AI will perform these tasks faster , more effectively with better outcomes which allows procurement to be more focussed on value-based activities such as driving innovation , strengthening relationships and ensuring business continuity .”
Partnerships promoting open integration Alongside the relationships Coupa nurtures with its customers , Michael emphasises the open discourse it has with its network of providers and partners . The ‘ O ’ in Coupa stands for ‘ open ’ and it is a founding principle that has never been forgotten , as the business has moved through the gears to be a global leader .
“ We have an open platform that is very easy to integrate with , whether it is with
procurementmag . com 69