Spend360 is an analytics solution that uses deep machine learning and artificial intelligence to structure and cleanse data in a format that finance and procurement can actually use.
With the addition of Spend360, Coupa will help transform outdated data classification processes that rely on humans for accuracy with a modern, digitized system that uses innovative technologies to classify data more quickly and accurately. Embedding Spend360 intelligence in the Coupa platform will make it easier for businesses to reduce risks in their supplier base and grow savings opportunities.
Coupa and Spend360 will comprise a data warehouse that has, to date, processed or analyzed more than a total of USD 1.3 trillion in spend – and counting - with a global category-level benchmarking and analytic capability.
Coupa expects the functionalities from Spend360 to be made available to select Coupa customers later in 2017. As part of the acquisition, the Spend360 team has joined Coupa to continue developing forward-thinking approaches for data classification and predictive insights. This team will be instrumental in helping Coupa drive even more value for its customers.
The transaction closed at the end of December 2016 and financial terms were not disclosed. Coupa is not updating its guidance for its fourth quarter or fiscal year ending January 31, 2017, which it provided on December 5, 2016. The acquisition is not expected to have a material impact on Coupa’s results of operations or financial condition for its fourth quarter or fiscal year ending January 31, 2017.
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