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How Coupa’s savings-as-a-service model is paying off all round

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As businesses are constantly on the look out for cost saving initiatives, this cloud based saving as a service platform is providing one solution.

When Rob Bernshteyn joined Coupa Software , he already had a very clear vision of what his business strategy would be: to deliver a savings as a service product, aimed to help companies to be as profitable as possible.

Since launch in 2007, Bernshteyn’s savings as a service product has seen revenues grow by 100% and the company now handles more than 1 million transactions daily, and has helped over 500 companies save around $5 billion to date.

Coupa has been named on the ‘500 List of America’s Fastest-Growing Private Companies’ and one of the top 50 new startups by the Wall Street Journal.

“I have always been focused on how businesses can be optimized through information technology”, says Bernshteyn. “I had done it in financial software and in HR, but a great solution in IT didn’t really exist, so I created it myself.”

The saving as a service company handles more than US$1 million transactions daily, and has helped over 500 companies save around $5 billion to date.

Multidisciplinary experience

Bernshteyn has over two decades of experience in the business software industry, having worked in different areas and companies, including Siebel Systems, McKinsey & Company and Accenture.

“I began in programming, then I did development. I ran training for implementation of software and I did corporate marketing and sales.”

“So by the time I set up my own company, I had been involved with almost every area of unapplied software. It enabled me to better understand where the challenges might come from.”

Bernshteyn is focused on keeping the company aligned during its period of intense growth.

“As you grow up as a company and you get more people involved, it’s very easy to reach the situation where people don’t understand core values or maybe don’t see things the same way as you.”

As a savings as a service software company, Coupa offers a spend management platform solution to reduce the cost of buying everything from IT to corporate travel or raw materials.

Ask the right question

“This product area is not restricted to just one industry; it involves healthcare organizations, financial services organizations, technology companies, software, hardware, retail, restaurants, manufacturers,” explains Bernshteyn.

“Now, we are focusing on continuing to extend the functional footprint of what we are. In order to do that, the first thing we ask ourselves is: how are the companies expanding across the globe?”

“We meet the CEO of the companies and we ask them: Do you think your company is doing a great job squeezing up every pound, every euro, every dollar out of its operations? Are you sure you are as profitable as you possibly can be?”

Bernshteyn’s goal is to help companies to optimize their spending across every category.

Part of Coupa’s success to date has been based on creating a positive working environment. The organization has been named “Best Place to Work in the Bay Area” three times by the San Francisco Business Times.

“We have been growing very fast for a long time, so we understand the challenges and the opportunities that come with it.”