Evaluation Based on Completeness of Vision and Ability to Execute
Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, today announced that Gartner, Inc. has included Coupa in the February 2017 Gartner Magic Quadrant for Strategic Sourcing Suites. Gartner first began evaluating and publishing assessments of this market in 2003.
The 2017 Gartner Magic Quadrant for Strategic Sourcing Suites report evaluated Coupa against 13 other vendors in this market. Four modules (spend analysis, e-sourcing, contract management and supply base management) were reviewed in Gartner’s report. Gartner believes that Coupa met the report inclusion criteria in part because the company introduced two additional applications to its unified cloud platform in 2016 (supplier information management in February 2016 and contract collaboration in May 2016). In January 2017,Coupa announced the acquisition of Spend360, a specialist in the strategic sourcing area. The capabilities acquired were not part of this Gartner evaluation.
Coupa is also named a Leader in the June 2016 Gartner Magic Quadrant for Procure-to-Pay Suites. The company is focused on providing a unified cloud platform for B2B spend across invoicing, procurement, and travel and expense management as well as the strategic sourcing power applications surrounding these business processes.
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“We’re not surprised to see Coupa’s debut in the Gartner report on Strategic Sourcing Suites. We’ve been impressed with both their rapid rate of innovation and how our voice in their customer product advisory boards has been respected,” said Javier Carnevali, chief procurement officer at GrupoHerdez.
The 2017 Gartner Magic Quadrant for Strategic Sourcing Application Suites evaluates the vendor on “completeness of vision” and “ability to execute”. A vendor’s ability to execute is based on an in-depth assessment of its product or service, overall viability, sales execution/pricing, market responsiveness/record, marketing execution, customer experience and operations. Completeness of vision includes the criteria: market understanding, marketing strategy, sales strategy, offering (product) strategy, business model, vertical/industry strategy, innovation and geographic strategy.
“We consider Coupa’s inclusion in the Gartner Magic Quadrant for Strategic Sourcing Application Suites and our status as one of only five vendors to also appear on the Gartner Magic Quadrant for Procure-to-Pay Suites as confirmation that Coupa delivers an intelligent platform that serves all employees from requesters to power users,” said Donna Wilczek, vice president strategy and product marketing at Coupa.
Coupa’s debut is an achievement that the company believes reinforces its customer reach, product capabilities, and global presence which are the criteria Gartner uses to determine vendors’ inclusion in the research. As a player in this Gartner report, Coupa is positioned the furthest for execution and vision.