Category Archives: Spend management

Coupa closes $80m funding to bolster financials in the cloud

Coupa secured $80m in its latest funding round

Coupa secured $80m in its latest funding round

Cloud-based provider Coupa has secured $80m in a funding round led by T. Rowe Price Associates and Iconiq Capital, bringing total investment raised by the startup to $165m.

Premji Invest, Crosslink Capital, Battery Ventures, El Dorado Ventures and Rally Ventures also participated with the latest funding round.

“This financing allows Coupa to continue investing in our go-to-market capacity and further expand our market-leading product portfolio and cloud innovations,” said Rob Bernshteyn, chef executive of Coupa.

“With our cloud spend management solutions we are redefining the value software should deliver to businesses and changing how customers define success from enterprise software solutions. We’re thrilled to have this roster of investors backing us as we grow our leadership and continue bringing our unique Savings-as-a-Service offering to the world’s most successful companies,” Bernshteyn added.

The spend-management provider said it plans to use the capital to bolster its global operations including sales, support and marketing.

Coupa said it wants to help “consumerise B2B commerce” for firms and their suppliers and make spend management simple, and the company seems to be enjoying a reasonable amount of success at convincing some of the largest firms – some of its customers include Salesforce, one of the largest Coca Cola bottlers in America, Royal Bank of Canada and BNP Paribas North America. It also claims more than $120bn in spend has passed through its platform to date.

Over the past year the company has focused on building out integrations and partnerships with ERP providers, announcing a deal with NetSuite in October 2014 for instance. Spend management software has long been high on the priority list of larger legacy incumbents. In 2012 for instance SAP bought cloud-based cash flow and expense management provider Ariba for $4.3bn, the same year Oracle introduced its own cloud-based expense management offering.

MD Buyline Releases Tiered Solution to Tackle Healthcare PPI, Supply Chain Cost Containment

MD Buyline today released the next generation of Buyline Consumables, a comprehensive, evidence-based technology and services suite designed to help healthcare providers achieve greater predictability and data driven cost reductions across their Physician Preference Items (PPI) and supplies purchases.

With cost containment on PPI and supplies being a critical challenge facing healthcare institutions today, Buyline Consumables helps to bring clinical, finance, operational, and supply chain teams together to produce significant and measurable financial results. By utilizing data from thousands of hospital systems nationwide, MD Buyline provides rich insight and analysis to uncover financial savings opportunities. The result is a flexible, cost effective, subscription based solution that significantly improves the financial performance of a critical area of the hospital, while positively impacting both physician and patient satisfaction.

As the foundational layer of the Buyline Consumables solution suite, the Spend Analytics platform includes access to a real-time data platform that aggregates and synthesizes information from thousands of hospitals and vendors. Delivered as a cloud-based offering and accessible to anyone with a web browser, Consumables Spend Analytics enables clinical, operational, supply chain and financial departments to gain detailed line-item level visibility and drilldown views into robust national and cohort benchmarks for PPI and supply spend, resulting in greater fiscal sustainability and improved patient outcomes.

The premium service component of Buyline Consumables solution suite, aggregates Consumables Spend Analytics with a layer of diagnostic frameworks and custom research, to provide an end-to-end decision support service. Unlike open-ended PPI consulting engagements that have little or no cost predictability, Consumables Spend Management is designed to support value analysis processes “from kickoff to implementation” at a fixed cost.

In addition to all elements of Consumables Spend Analytics, the Spend Management services include:

  • Custom research for the specific supply category, complete with
    summaries of the latest clinical evidence
  • RFP reviews and insight on contract pricing, terms and conditions best
  • Custom financial impact and decision support calculators
  • Analyst insights, recommendations & negotiation support

According to Satin Mirchandani, CEO, MD Buyline, “The Buyline Consumables solution suite is designed to efficiently and effectively support cross-functional technology selection and acquisition processes, thus driving step-function improvements in PPI and supply spend reduction. The proven MD Buyline technology and services platform, in combination with our experienced analyst team, is well-equipped to deliver an integrated solution that drives improved predictability and financial performance across the healthcare supply chain.”