Coupa Launches Travel and Expense Suite for BSM Solution
Coupa on Tuesday announced the launch of a travel-focused extension to its enterprise expense management (BSM) solution, adding features such as travel planning and booking, 24-hour traveler assistance services 24/7 and category-specific community information.
Product Launch Completes Coupa’s Expansion from an Expense Reimbursement-Focused Solution to a Complete Travel and Expense Management Suite That Helps Businesses Maximize Travel Spend Capture to Be More Efficient and Sustainable .
Coupa said during a briefing with Spend Matters that it assembled the components of the new T&E solution, called Coupa Travel and Expense, from underlying elements of its suite, as well as its acquired assets and quickly including the companies Yapta (for automated air travel/hotel price monitoring and rebooking) and Pana (the basis of Coupa’s new travel booking capability).
Most notably, Coupa’s move into T&E’s “T” marks a smart bet on shopping’s ability to influence business travel spend as the category undergoes fundamental shifts caused by the coronavirus pandemic. As business travel approaches pre-pandemic levels and the shift to remote operations changes the types of travel and spending employees make, procurement has a unique opportunity to reshape demand and processes for the category, as well as adopting new perspectives on the role of travel. in strategic ESG initiatives such as the reduction of Scope 3 emissions.
But to seize this opportunity, procurement must first effectively capture these expenses upstream. By integrating aspects of travel booking, travel planning and travel assistance services into other aspects of the source-to-pay process (e.g. payments and expense reimbursement contract management employee management, strategic sourcing, and spend analytics), Coupa aims to fix the front-end barriers that prevent sourcing from influencing travel and assessment spend, giving organizations a much better chance improve savings, stakeholder travel and ESG outcomes.
Raja Hammoud, Coupa’s executive vice president of products, said in a press release that the T&E suite is something new for the market.
“We built Coupa Travel and Expense with our clients from the ground up with empathy and understanding of the traveler and the back office,” Hammoud said. “By understanding the end-to-end business journey journey, we eliminate the pain for businesses that depend on a patchwork of siled legacy tools. When we add the power of insights generated by our global community, we deliver a radically different solution that transforms business travel to be simpler, smarter and more sustainable.
Now let’s take a look at the T&E problems Coupa tackled, how its solution developed, and how the market might react to this development.