Tuesday 7th July, 2015

Coupa Software has announced the acquisition of Australian-based InvoiceSmash, a cloud innovator of accounts payable and e-invoicing solutions.

With this acquisition, Coupa takes the next step in transforming B2B commerce by further reducing the need for expensive supplier enablement initiatives and strengthening the way the world’s businesses use Coupa Invoicing and the Coupa Open Business Network for their e-invoicing transactions.

In today’s world of B2B commerce, extended global enterprises need modernized solutions to efficiently manage supplier transactions while staying compliant with local government requirements. These businesses also want to transact with one another quickly, without fees, paper or friction, which impact the overall cost of doing business. Coupa’s model of delivering e-invoicing compliant systems as a fully managed service delivers on this promise.

InvoiceSmash’s cloud-based technology has innovative closed-loop learning capabilities that will extend Coupa’s Invoicing solution by instantly converting emailed invoices from suppliers into the digital format required for the buyer’s accounts payable process.

As Coupa brings these innovations to market, supplier enablement efforts and invoice processing costs will dramatically decrease as buyers and suppliers gain instant connectivity and the freedom to interact using their preferred processes via the Coupa Open Business Network. Finance also gets the added benefit of optimizing cash flow management and additional days to apply early payment discount terms to earn a return on payables.

“Our acquisition of InvoiceSmash is a huge step forward for the industry. The InvoiceSmash technology will help businesses large and small transact faster and easier than ever before with significantly less manual intervention,” said Rob Bernshteyn, CEO of Coupa. “The InvoiceSmash technology will be a hugely value-added extension to our organic suite of capabilities and will drive immediate value, supporting the very essence of Coupa’s Savings-as-a-Service approach.”

Innovative Accounts Payable & e-Invoicing Technology

Designed to help enterprises of all sizes digitize and automate the often painful accounts payable and invoicing process, the InvoiceSmash innovations will be embedded into Coupa’s organic cloud-based platform to instantly convert emailed invoice attachments into the field formats required by Accounts Payable.

The solution’s closed-loop learning capabilities can also detect supplier invoice format changes, remember those changes, and create learned templates so the Coupa system grows smarter, for the benefit of all Coupa cloud customers, after a new supplier invoice format appears.

“When we created InvoiceSmash we set out to transform how buyers handled their suppliers’ invoices. Core to our business model was the idea of allowing buyers and suppliers to do e-invoicing without needing system and process changes. By allowing our customers to use their existing invoicing processes we are able to achieve greater e-invoicing adoption rates,” said Mark Burch, founder of InvoiceSmash. “We are excited about the opportunity to join Coupa, maximize our innovations, and share our e-invoicing technology with businesses around the world.”