Coupa Software Inc (COUP - Free Report) recently announced the acquisition of Deep Relevance Inc. The company, based in San Francisco, CA, offers analytics software powered by artificial intelligence (AI) that detects fraud in an organization’s spending.
Coupa provides a unified, cloud-based spend management platform that helps enterprises keep a tab of daily expenditures. The company will use Deep Relevance’s AI models and tools on expenses, purchase orders and invoices data to create fraud profiles and assign scores.
The scores then can be used to alert a company's internal auditors for further review and action on suspicious activity. Coupa's product SVP, Raja Hammoud, stated, “Deep Relevance's unique application of AI allows us to accelerate our vision of helping customers reduce fraud through Coupa community intelligence.”
Expanding Clientele, Partner Base to Drive Top-line
The acquisition will improve Coupa’s capability to save more for its clients by curbing fraud. The company has stated that its platform help customers save any amount between a penny and a dime on transactions.
Cumulative spending over the platform since its launch has surpassed $500 billion (at the end of second-quarter fiscal 2018), reflecting growing adoption of its solutions by the likes of Amazon.com Inc (AMZN - Free Report) , salesforce (CRM - Free Report) , Caterpillar Inc (CAT - Free Report) , Unilever and others.
Moreover, expanding partner base is expected to drive top-line growth. Partnership with Software AG makes it easy for companies to integrate Coupa with most leading enterprise resource planning (ERP) systems, including those from SAP and Oracle. The company has expanded its CoupaLink certified solutions by adding Software AG’s webMethods Connector.
CoupaLink is an API-based open integration platform that lets technology partners and independent software vendors (ISVs) integrate their products with the Coupa platform.
Most recently, the company announced the availability of Coupa Open Buy with Amazon Business in the United States. Further, a pilot will be launched soon in both Germany and the UK with an initial set of customers.
Coupa recently launched its next-generation cloud platform and added more than 70 new capabilities. We believe that the new platform will help the company gain new customers more rapidly, which will ultimately boost its top-line growth.
For fiscal 2018, total revenue is expected between $177 million and $179 million. For third-quarter fiscal 2018, revenues are anticipated in the range of $44.8-45.3 million.
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