coupa

Coupa selected by Zurich Insurance to transform its business spend

SAN MATEO, Calif., July 12, 2018 (GLOBE NEWSWIRE) — Coupa Software (NASDAQ: COUP), a leader in business spend management (BSM), today announced that Switzerland’s largest insurer and global top 100 company, Zurich Insurance Group (Zurich), selected Coupa’s business spend management platform to manage the company’s procurement spend with greater visibility, smarter analytics, and better processes. The first phase of the rollout, which included source-to-contract, was deployed in just two months. Procure-to-pay and expenses management will be rolled out later this year.

As part of its broader strategy to transform operations and move to a simpler, customer-focused and efficient Source-to-Pay model, Zurich was looking for an integrated solution that enables:

  • Managing spend from purchase all the way through to payment
  • Streamlining employee expense management processes
  • Transitioning to a simple, innovative, and compliant platform that enhances employee experience

Thomas Sebastian, chief procurement officer, Zurich Insurance, said. “At Zurich we are committed to investing in the agility and modernization of our systems as part of our strategy to innovate, simplify our operations, and better serve our customers.”

“Like many of our customers, Zurich was looking for a comprehensive platform that would adapt and grow with their business and provide a simple and efficient user experience,” said Mark Riggs, chief customer officer, Coupa. “We are delighted to be working with the team at Zurich and look forward to continuing to help them drive efficiency and savings.”

The initial rollout of Coupa’s BSM platform went live in December 2017 after a rapid integration and is already enhancing strategic sourcing efforts at Zurich by helping the company optimise and automate procurement processes.

About Coupa Software

Coupa Software 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 Zurich

Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 53,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.

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