Coupa Software (NASDAQ: COUP), a leader in cloud-based spend management, has announced that leading defence electronics company, Hensoldt, has chosen to implement Coupa’s innovative cloud-based spend management solution. The internationally established armaments group, best known for its sensor technology, will roll out the Coupa solution globally across all its locations.
With about 4,000 employees and revenues that total about 1 billion Euros, Hensoldt is a new company that spun off this year from the Airbus Group and currently specialises in sensor systems, which are used in optronic devices and radar systems.
Gregor Schulz, purchasing manager at Hensoldt, explains why the company chose Coupa: “We were looking for an efficient way to digitise and automate transactional processes with our suppliers in both direct and indirect material purchasing. One of our main goals was to simplify all strategic and operational processes, from the onboarding of suppliers to electronic invoice verification, whilst relieving all stakeholders including our suppliers.”
After a careful evaluation of all the solutions on the market, Hensoldt opted for Coupa Source-to-Pay (S2P) alongside its analysis platform. Important factors in the decision to choose Coupa included its intuitive user-interface and the option to use a unified software platform to simplify the processes involved in direct and indirect material purchasing: “Both us and our suppliers save time, effort and ultimately money from these digitised processes”, Schulz said.
Born in the cloud, Coupa delivers a modern spend management platform that accelerates business by unifying processes across all the ways employees spend money. These processes cover travel and expense management, procurement, invoicing, and related source-to-settle areas. Using the Coupa Open Business Network, the platform has connected more than three million suppliers and delivers a powerful solution for businesses committed to controlling their spend.
“Hensoldt will be able to drive increased adoption across its employees and suppliers as well as capture spend-related transactions in one place with our Unified Coupa Platform for Business Spend,” said Rob Bernshteyn, CEO, Coupa. “The company requires a comprehensive, open, user-centric, prescriptive, and accelerated approach to help digitise its paper-based systems. We look forward to helping Hensoldt meet its goal.”