Coupa Software, a company specializing in cloud-based applications for finance, has formed strategic partnership with KPMG Australia to help clients transform their approach to procurement to achieve bottom-line savings.
For most companies, the procure-to-pay (P2P) process typically ties up significant amounts of capital that could otherwise be invested in growing the business.
Financial services face challenges with manual procurement processes, lengthy management approvals, manual reconciliations, and lengthy payment cycles are among the many culprits that contribute to inefficiencies in the process.
Financial processes also face inefficiencies due to general lack of integration with other business processes and high transaction costs. Together, KPMG and Coupa will help reduce these inefficiencies and costs in their clients’ procurement processes, the company said.
The partnership will help clients transform their procurement process – reducing costs and adding strategic value, said Ian Hancock, KPMG Australia’s head of management consulting.
“We can now take our procurement advice that one step further and support clients with Coupa’s suite of cloud applications. Our strategic expertise together with Coupa’s solutions will ultimately deliver significant value to our clients’ procurement practices and pipeline.”
“KPMG and Coupa share a common vision,” said Roger Goulart, vice president, alliances at Coupa. “Together, we are helping companies achieve success using our suite of award-winning cloud applications and leveraging their change management expertise.”
One of the customers which have benefited from this partnership is Greif, a manufacturer of industrial packaging. Greif wanted to decentralize its purchase order process and maximize employee productivity by putting purchasing power into the hands of its local finance teams.
Since deployment in mid-September, Coupa’s spend optimization software has helped Greif standardize its purchasing practices by delivering an automated environment to employees, increasing staff efficiency in purchasing and AP functions and deploy a robust cloud-based financial solution in four months.