It’s tough keeping tabs on your daily spending habits—a cup of coffee, take-out for dinner, online purchases, and movie downloads.
Imagine having to monitor the spending habits of a large business, with hundreds of cost centers and complex supply chains. It is especially relevant in today’s economic environment where companies are hyper-focused on gaining complete visibility to help rationalize costs.
This is where business spend management software comes into play, tackling the comprehensive management of company spending. And the market for it is booming; the business spend software market is expected to reach nearly $18 billion by 2027 – or a CAGR increase at a rate of almost 11%.
Spend management software
This is driven by increased spending on cloud and SaaS-based software, where organizations need improved transparency and financial planning. If you could aggregate large quantities of your transactional expense data, you would have better visibility of your spending – and manage it accordingly. But that can be a real challenge when the data lives in numerous siloed applications throughout your company.
So, we have partnered with Coupa and its Business Spend Management (BSM) software to together meet the spend management demands of our customers and prospects. Coupa’s platform provides actionable insights for improved inventory management, smarter purchasing decisions, risk mitigation, and lowering costs.
For Coupa’s software to perform its magic, it needs to aggregate all your data. That’s why integration plays such an important role: It gathers the scattered data and stitches it together so that Coupa’s software can look holistically at spending patterns and areas of inefficiency.
Software AG is particularly adept at addressing the synchronization of data between cloud-based and on-premises applications. We’re simplifying this for Coupa customers with the webMethods.io Coupa Connector, an out-of-the-box Integration Platform as a Service (iPaaS).
Partnership with Coupa
With the webMethods.io Coupa Connector, you can quickly integrate Coupa Procurement, Accounts Payable and Expense Management services with third-party applications to automate processes and synchronize data between key data sources and systems of record.
Whether you’re one person or a global corporation, you can all benefit from smarter spending habits. And it’s a lot easier to get there when you have full visibility into all aspects for your company’s spending.