|By Business Wire||
|October 19, 2016 08:31 AM EDT|
Coupa Software (NASDAQ: COUP), a leader in cloud-based spend management, announced today that Tecnológico de Monterrey, a private, nonsectarian, coeducational university with 30-plus campuses in 25 cities throughout Mexico, has selected the Coupa cloud platform. Tec will use Coupa to modernize the university’s spend with digitized processes and Coupa’s Open Business Network for fast supplier collaboration and an efficient integration to its enterprise resource planning (ERP) system.
“Technology is changing faster than ever before and it is critical that we understand the latest advancements around mobility and cloud to remain a leading university,” said Jose Tam, Chief Information Officer at Tec. “Working with a cloud innovator like Coupa helps us fuse state-of-the-art cloud networks with our SAP ERP backbone. Our team is setting the course for our future, and I am excited to rapidly bring this solution to life for my CEO, CFO, and CPO.”
The Coupa platform will manage the spending required to support the university’s 90,000 students. After extensive evaluation of market offerings, including hands-on use of the technology and many customer discussions, Tec selected Coupa’s Inventory, Sourcing, Procurement, compliant e-Invoicing automation, and Open Business Network to connect to their suppliers and ERP systems.
“As we rollout the Coupa platform across our university and suppliers, we will gain the visibility required to optimize our spending and cut our costs while improving results for our students,” Tam said. “Tec de Monterrey has always been distinguished as an innovative institution where the use of technology is key in the educational process.”
Key factors behind Tec’s selection decision include the similarities between Coupa and the university, namely a spirit of continual improvement and innovation to drive success in their respective industries. Rapid connectivity and ease-of-use by suppliers of all sizes also were critical as Tec’s 20,000 suppliers cover various types of businesses from service provided by one person with a cell phone to orders with some of the world’s largest suppliers with sophisticated e-commerce technology. Coupa’s network can connect businesses easily and without registration required.
“We are going to transform our customers’ experience with a simple-to-use platform to increase the power of every dollar we spend by digitizing our B2B spending processes,” said Alejandro Castro, Chief Procurement Officer at Tec. “We will use our savings for programs to fund more scholarships for students and to fund our key initiatives for our 2020 plan.”
Tec’s supplier collaboration and spending digitalization project will help the university have full visibility to spending and be able to control their spend in real-time as changing economic conditions dictate.
“B2B commerce in Latin America can sometimes be slow due to inefficient technology and paper-based processes that increase business costs,” said Donna Wilczek, Vice President Strategy and Product Marketing at Coupa. “We're looking forward to working with Tec as a partner to digitize the university’s processes so we can focus on driving real measurable value together.”
Tecnológico de Monterrey’s vision is to educate leaders who have an entrepreneurial spirit, a humanistic outlook, and are internationally competitive. Coupa works with any ERP system such as SAP, Oracle, NetSuite, Workday or Great Plains to provide organizations with the measurable value long lacking in cloud spend management.
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend. We deliver “Value as a Service” by helping our customers maximize their spend under management, achieve significant cost savings and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations representing the Americas, EMEA, and APAC with millions of suppliers globally. The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
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