Get Your Spend Under Management, and add Real Value to Procurement
Ever since technology – particularly cloud technology – became an everyday part of business spend management, one name has dominated the market for software solutions in this competitive and business-critical sector: Coupa.
Until companies gain complete control over their spending and the internal operations that go into spend management, there will always be a struggle to get a full oversight into critical figures like overall liquidity, cash position, asset value, and more. That’s because the processes required to manage spending are often repetitive and complicated yet require detailed monitoring, recording, and examination of every transaction. For finance departments, that means throwing resources at spend management (usually costly, human-shaped resources). More strategic planning and big-picture-thinking must come only as an afterthought.
Technology’s greatest assets include its abilities to work tirelessly at the highest levels of detail, helping finance professionals improve their department’s accuracy and find more time for more strategic work. Coupa automates and facilitates business processes for procurement, accounts payable, supply chain, sourcing, and even legal functions, all from a powerful cloud-based software suite. For companies looking to get to grips with runaway spending and seemingly ad hoc procedures, the Coupa platform offers light at the end of the tunnel.
It’s one of the software solutions provided and supported by finance automation specialists Dynatos. With their help, you’ll see that instead of expensively-qualified finance professionals needing to work mired in the detail of paper-based and semi-automated procure to pay operations, software (often aided by artificial intelligence) can remove much of the heavy lifting that typically dominates finance departments’ days.
Coupa can start to work alongside large ERP software suites (like NetSuite, Microsoft, and SAP) and other software instances already in the finance department, giving a fast time-to-production. In alignment with these other digital assets, Coupa can produce deep insights into companies’ spending processes, automating much manual work and making ease-of-use and underlying power watchwords for finance departments.
Via highly-configurable dashboards, Coupa’s advanced analytics give oversight into all aspects of spend from a 1,000 feet view, with the ability to drill right down to a transaction level. The platform ships with pre-built role-based templates for procurement, operations and finance roles, and near real-time figures show performance against KPIs, segmented by supplier, commodity, and account.
The Coupa platform was designed from the ground up by business finance professionals, so it’s one of the fastest Business Spend Management solutions to get into production out there today, even in highly complex business structures in large enterprise-scale organizations. The experienced Dynatos team helps their customers navigate the configuration options to correspond with existing processes. The cloud based Coupa solution works in tandem with most ERP systems and quarterly updates are applied seamlessly in the background, so end-users don’t experience downtime.
Any project to improve both business processes and the positive use of technology begins with research. For prospective Coupa users, Dynatos offers a Value Discovery Assessment, available here.
From the Assessment, the demo available via Dynatos is the next logical step, and is the first exposure many have to the overall usability of the Coupa platform. That’s a particularly important aspect of any software solution, especially when it is to be used by multiple stakeholders, third-party suppliers, and partners. The uptake percentage of Coupa by suppliers is in the high 90s – one metric you’ll hear a lot from the Coupa Community. Internal users and stakeholders from all over the business will also benefit from the platform’s attractive UI, general ease-of-use, and integration simplicity.
As a market-leading business finance technology supplier, Dynatos has found that Coupa’s solutions produce results for its clients in months, not years, making the ROI timescales shorter than many competing platforms. The Value Discovery report will help your understanding of the possibilities of the platform and additionally gives insights into what similarly-sized finance departments are doing in your vertical, and beyond.
1 December 2022
30 November 2022