AI IMPLEMENTATION
Its community-generated AI empowers companies to make smarter , more profitable business decisions and improve operating margins , leveraging insights from US $ 6tn worth of direct and indirect spend data across a global network of more than 10 million buyers and suppliers .
Crucially , Coupa ’ s AI continuously learns to predict , prescribe and automate actions , integrating across the platform to enhance supply chain visibility , future -proof operations and mitigate risks .
Shedding light on how Coupa ’ s AI-powered capabilities are enhancing global supply chains , Fang adds : “ Our Supply Chain Prescriptions solution identifies and prioritises the highest cost drivers in the supply chain , offering actionable insights to reduce expenses and carbon emissions .
“ By providing stakeholders with enhanced scenario management data , businesses can make informed decisions , optimise transportation routes and validate cost-saving strategies through digital twin technology .
“ This tool transforms data analysis into strategic work , ensuring efficient and sustainable operations .”
Coupa ’ s outstanding work in the AI space continues at pace , with a host of additional AI-driven automations announced throughout this year , including at the Coupa Inspire conferences in Las Vegas and Vienna .
These innovations are set to support businesses by increasing payment automation , optimising workflow processes and creating more profitable buying experiences .
COUPA ’ S LATEST AI INNOVATIONS
Coupa is continuing to pour resources into advancing its AI capabilities .
The organisation has rolled out a series of exciting innovations and solutions throughout 2024 , which are set to help businesses achieve the following :
• Increase payments automation : New accounts payable ( AP ) automation features extract invoice data from scanned documents , instantly digitising the invoice . AI features also automatically assign tax code rules to invoices , further reducing the need for manual entry and shortening cycle and approval times .
• Optimise workflow processes : New purchase , supplier , contract and sourcing event requests can be auto -assigned to users based on custom settings for each business . Teams have improved visibility and control over their approval queue , improving time management and freeing bandwidth to tackle more strategic projects .
• Create more profitable buying experiences : New Coupa App Marketplace integrations with Tonkean and Tropic take the friction out of the buying experience for employees . With intelligent intake orchestration , buying is intuitive . Employees are guided to make smarter decisions that can accelerate more profitable outcomes for the business .
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