Coupa Gains on Competitors in Expense Management, Driven by CEO’s Unusual Vision of SaaS and Success
Three decades into the PC revolution and nearly two decades after most businesses joined the Internet, you’d think that software makers would already have identified every conceivable inefficiency in the way companies work, and that they’d be running out of ideas for how businesses can use technology to save more money.
Not even close. Take purchasing and expense management as an example. Electronic systems for procurement, invoicing, and reimbursement have been around since before the dot-com crash, but the average company still spends a jaw-dropping $28.91 to process a single expense report, according to a 2010 report from research firm Aberdeen.
That leaves a big opening for startups that promise to help other businesses get their spending—and the way they manage it—under control. And one of the companies plowing right through that opening is Coupa, based in San Mateo, CA.