Electric vehicle automaker plugs into Coupa's
BSM platform to power savings through strategic sourcing and
efficient procurement operations
SAN
MATEO, Calif., Feb. 8, 2023
/PRNewswire/ -- At a time when businesses globally are focused on
improving operational costs, electric vehicle designer and
manufacturer Rivian has fueled its business with Coupa Software's
(NASDAQ: COUP) Business Spend Management (BSM) Platform.
In one year, Illinois-based
Rivian leveraged the Coupa platform to save more than $200 million in smarter purchasing, planning, and
business execution. Those dollars are serving Rivian as an engine
for investment throughout the company.
"In the past two years, we've saved more than $280 million using Coupa – $213 million last year alone, which represented
$4 million saved for every member of
our procurement team. The impact of these savings was astronomical
for the organization during such tumultuous economic times," said
Brad Hood, director of indirect
procurement, Rivian. "Not only that, but the benchmarking
performance data Coupa provides through Community.ai pushes our
team to exceed the industry standards. We've become more efficient
and effective – and we're just getting started."
With Coupa, Rivian rolled out scalable spend management
initiatives to support turbo-charged growth. The company is able to
focus on tactical buying, ensuring all spend is competitively
sourced and funneled through the appropriate channels. Rivian
evaluates spending across the company, analyzes supplier data, and
measures that information against industry standards to elevate
performance.
"Cost savings is a top priority for every business. The Business
Spend Management community has shown that by spending smarter
together, we also save smarter together," said Mark Riggs, chief customer officer, Coupa.
"We're thrilled that Coupa is helping Rivian to drive strategic
decisions and improve their entire operation, from planning to
production to sale. The ability to then redirect those savings to
transitioning the world toward more sustainable energy is huge.
We're proud to play a role in enabling such an important and
impactful mission."
To learn more about how Rivian is making every dollar spent more
effective, join us at Inspire, the flagship global BSM community
event. To register, visit: https://americas.coupainspire.com/
Coupa empowers companies around the world with the visibility
and control they need to manage all business spend in one place to
accelerate performance and unlock purpose. To learn more, visit
https://www.coupa.com/.
About Coupa Software
Coupa is the cloud-based Business Spend Management (BSM)
platform that unifies processes across supply chain, procurement,
and finance functions. Coupa empowers organizations around the
world to maximize value and operationalize purpose through their
business spend. Learn more at www.coupa.com and follow us on
LinkedIn and Twitter.
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SOURCE Coupa Software