**London**: Levelpath has announced a key integration with Coupa’s AI-native platform, aiming to reduce procurement cycle times by up to 60%. This partnership, part of Coupa’s App Marketplace, promises to optimise procurement processes through enhanced automation and real-time analytics.
Levelpath, a provider of AI-powered procurement automation solutions, has announced a significant integration with Coupa’s AI-native Total Spend Management Platform. This collaboration aims to enhance procurement processes for organisations by leveraging artificial intelligence to streamline operations and significantly reduce procurement cycle times by as much as 60%. The integration was made public through a press release issued by Levelpath on March 14.
Alex Yakubovich, CEO and co-founder of Levelpath, highlighted the advantages of this integration, stating, “Our Coupa integration empowers procurement teams to automate routine tasks, reduce cycle times and make data-driven decisions through real-time analytics and intelligent workflow automation.” This statement reflects the company’s commitment to improving the efficiency and effectiveness of procurement functions.
The newly formed partnership is a direct result of Levelpath’s certification as a solution under Coupa’s App Marketplace Partner Program. This certification confirms that Levelpath meets the necessary requirements to develop complementary solutions that integrate seamlessly with Coupa’s platform, thereby enhancing overall functionality.
Nigel Pegg, Senior Vice President of Platform at Coupa, expressed enthusiasm about Levelpath joining the Coupa App Marketplace. He remarked, “We’re excited to welcome Levelpath to the Coupa App Marketplace, providing our customers with enhanced capabilities to optimize their spend management processes and deliver greater value across their organisations and platforms.”
The announcement comes at a time when many retailers and manufacturers are actively digitising their procurement processes. According to findings from the PYMNTS Intelligence report titled “Digital Payments: Modernizing Procurement Processes,” 31% of retailers are currently investing in procurement systems, while an additional 53% plan to do so. In parallel, 42% of manufacturers are reported to have already begun investing in procurement technology, with another 44% considering such investments in the near future.
Earlier in September 2023, Levelpath secured $44.5 million in funding to develop its AI-driven procurement platform, which aims to address the often fragmented and time-consuming nature of procurement processes. In a separate announcement in February, Coupa revealed its enhancements to its spend management platform, which included over 100 new features designed to improve operational efficiency along with supplier collaboration and engagement. Coupa’s Chief Product and Technology Officer, Salvatore Lombardo, commented on these innovations, saying, “The innovations in our latest release sharpen our direct spend capabilities for customers, improving how both buyers and suppliers connect and collaborate, transact and grow their business.”
This strategic integration between Levelpath and Coupa underscores the growing trend of utilising advanced digital solutions in procurement, promising potential efficiencies for organisations aiming to optimise their spend management processes.
Source: Noah Wire Services
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