MUNICH, Germany, July 07, 2017 (GLOBE NEWSWIRE) -- Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, has announced that leading defense 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 specializes 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 digitize 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 digitized 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 digitize its paper-based systems. We look forward to helping Hensoldt meet its goal."
The cloud-based solution modules of Coupa's Spend Management Suite, which Hensoldt will implement, include Coupa Source-to-Pay, Supplier Information Management and compliant e-invoicing.
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend. We deliver “Value as a Service” by helping our customers maximise their spend under management, achieve significant cost savings and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organisations representing the Americas, EMEA, and APAC with millions of suppliers globally. The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
About Hensoldt
Hensoldt is one of the world's leading providers of premium sensors for security and surveillance missions. The company is the world market leader in missile warning systems and submarine periscopes. In addition, Hensoldt is strongly in the market for radars, optronics and electronic protection systems. The company was formed from the security and defence electronics activities of Airbus, which were outsourced in 2017 from the Airbus Group and has entered the market as a new sensor house under the brand name Hensoldt. With approximately 4,000 employees, Hensoldt achieves annual sales of around € 1 billion. www.hensoldt.net