**London**: Coupa has unveiled over 100 new features on its spend management platform, focusing on improving operational efficiency and supplier collaboration. Key innovations include AI-driven contract intelligence and enhancements to supply chain planning, reinforcing the company’s commitment to a fully autonomous spend management future.
Coupa, the global spend management solutions provider, has announced the launch of over 100 new features for its spend management platform, aimed at enhancing operational efficiency and improving supplier collaboration. This announcement was made on Thursday, February 13, and is part of the company’s ongoing effort to develop a fully autonomous spend management future, according to Salvatore Lombardo, Coupa’s chief product and technology officer.
Lombardo stated, “Every product release brings us closer to Coupa’s vision of a fully autonomous spend management future.” He highlighted the role of agentic artificial intelligence in expanding their global trade network, noting that the innovations introduced in this latest release are designed to enhance the connections and collaborations between buyers and suppliers, thus facilitating business growth.
Among the new features are significant upgrades in Coupa’s supply chain design and planning solutions, which are aimed at enabling customers to analyse various business scenarios efficiently, allowing for timely and informed decision-making. The introduction of contract intelligence is one notable enhancement, designed to improve the analysis of contract language and to streamline the processing of contracts through standard and custom field extraction, leveraging advancements in AI technology.
Another addition is the “Rapid Network Explorer,” which is intended to expedite the generation and evaluation of supply chain scenarios, enabling users to eliminate less impactful scenarios and significantly improve the duration of scenario modelling, ultimately promoting quicker decision-making.
This recent announcement follows a similar product rollout in April, which also introduced over 100 new features to the platform, highlighting Coupa’s commitment to continuous improvement.
In parallel, Bill Wardwell, general manager at Coupa Pay and Treasury, addressed concerns regarding fraud prevention within digital payments. In an interview for PYMNTS’ series “What’s Next in Payments,” he underscored the increasing risks posed by fraud, including compliance challenges, counterparty reliability, and payment failures, which threaten consumer trust. “These threats aren’t just financial; they strike at the heart of trust,” Wardwell remarked, pointing out that a single security breach can significantly undermine customer confidence and inflict substantial reputational damage.
Wardwell elaborated on the evolving nature of fraud, citing advanced techniques such as business email compromise, cyberattacks, and AI-driven deepfakes as part of a complex landscape of new threats facing the payments industry. Despite these challenges, he recognised the potential to leverage appropriate technologies and strategies to enhance security, framing it as an opportunity for businesses to convert security from a mere expenditure into a competitive advantage.
The developments from Coupa reflect broader trends in the financial technology sector, where companies continually adapt to meet both the operational needs of businesses and the ever-changing landscape of security threats within digital transactions.
Source: Noah Wire Services
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