StockNews.AI
SPT
StockNews.AI
62 days

Coupa Powers Spend Efficiency at Sprout Social

1. Sprout Social collaborates with Coupa for spend management improvement. 2. Coupa's platform enhances visibility and operational efficiency for Sprout. 3. Effective procurement processes are crucial for Sprout's growth strategy. 4. Integration eliminates manual data entry and fiscal anomalies. 5. Coupa's technology streamlines procurement and monitoring processes.

7m saved
Insight
Article

FAQ

Why Bullish?

The partnership with Coupa signifies operational improvement, potentially leading to margin expansion as observed in similar tech partnerships historically. Successful implementations in tech firms often result in increased efficiency and profitability, offsetting traditional operational costs.

How important is it?

The collaboration directly impacts Sprout's operational strategies, which can translate to enhanced financial performance, making it significant for both stakeholders and market analysts.

Why Short Term?

The immediate benefits from improved efficiencies and spend management are likely to yield quick positive results in operational metrics and investor sentiment.

Related Companies

CoupCRMTWTRFB
Driving operational efficiency and financial visibility with Coupa's unified AI-native total spend management platform , /PRNewswire/ -- Sprout Social (NASDAQ: SPT), an industry-leading provider of cloud-based social media management software, is leveraging Coupa, the leading AI-native total spend management platform, to drive comprehensive spend management analysis, empowering its organization to gain greater visibility into spend and grow its margins across all lines of business. Sprout Social's mission is to help organizations – such as Coupa, also a Sprout customer – unlock the true value and power of social. As Sprout helps businesses make smarter, faster decisions to drive business impact, they realized to achieve their own growth and success they needed to build effective procurement processes. With a reliance on multiple, disparate systems there was an increasing need for a robust, scalable, compliant solution to manage spend and drive overall operational efficiency. Coupa brings Sprout increased visibility and a modernized approach to expense reimbursement, helping them take full control over spend and growth momentum.  "We are just getting started on driving new levels of spend efficiency using Coupa. Already, the seamless integration between Coupa and our ERP has eliminated manual data entry, preventing operation issues and fiscal information anomalies," said Habib Hussain, Director of Business Systems at Sprout Social. "We're excited to continue driving efficiency, compliance, and cost savings across our business with Coupa. Today, social channels are influential platforms for businesses, and it's imperative we're equipped to serve our customers, manage risk, and safeguard our bottom line." "Together, we are enhancing procurement practices and workflows while empowering Sprout with the needed visibility into all lines of spend – a crucial capability in today's dynamic business landscape," said John Frank, Chief Customer Officer. "We always appreciate a partner who shares our commitment to serving customers and are eager to help Sprout achieve unmatched efficiency, transparency, and impactful business outcomes." Coupa's procurement and expense reimbursement solutions, available through its AI-native total spend management platform, are valuable assets to Sprout's strategic growth. With Coupa, Sprout implemented effective controls and gained greater visibility into spending across the organization – streamlining indirect procurement and AP processes, monitoring abnormalities, and boosting overall efficiency. The consolidated platform and mobile application help to optimize expense administration while the Process Insights tool allows Sprout to track and improve invoice processing. "Sprout has been an invaluable partner to our social media team for years, so it's incredibly exciting to now officially welcome them to the Coupa Community. The alignment of two customer-obsessed, innovation-driven brands in mutual partnership is truly powerful," said Kevin Iaquinto, Coupa Chief Marketing Officer. "As respective category leaders in our markets, both Coupa and Sprout Social share a commitment to excellence, and we look forward to supporting Sprout Social on their journey to unlock the full potential of total spend management." To learn more about Coupa's AI-native total spend management platform, visit coupa.com and coupa.com/customers.  About CoupaCoupa is the leader in AI-native total spend management. Using its trusted, community-generated, $8 trillion dataset, Coupa brings autonomous AI agents, a network of 10M+ buyers and suppliers, and leading apps together on one unified platform to seamlessly automate the buying process and connect to customers in a whole new way. With Coupa, you'll make margins multiply™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter). About Sprout SocialSprout Social is a global leader in social media management and analytics software, built on the belief that All Business is Social℠. Sprout's intuitive platform puts powerful social data into the hands of approximately 30,000 brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2's 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout's software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com and follow us on LinkedIn. SOURCE Coupa Software WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News