05 Sep Coupa acquires DCR Workforce, extending the company’s market leadership in BSM
DCR Workforce will provide an advanced solution for the full lifecycle of the sourcing and management of contingent workers at scale, building upon Coupa’s Services Maestro simple requisitioning, procurement, and tracking of SOW-based services offering.
SAN MATEO, Calif., Sept. 04, 2018 (GLOBE NEWSWIRE) — Coupa Software (NASDAQ: COUP), a leader in business spend management (BSM), announced today that it has acquired the technology assets of DCR Workforce, a leading provider of contingent workforce management and services procurement software. The acquisition further solidifies Coupa’s vision of enabling businesses to manage all their organization’s business spend, including contingent workforce spend, within a comprehensive BSM platform.
According to Forrester, on average, 58 percent of companies’ non-payroll spend is on services1, yet businesses lack the visibility and control to ensure this spend is compliant and the best use of company dollars. With spend in this category continuing to rise, Gartner predicts that by 2020, nearly 20 percent of an organization’s workforce (on average) will be temporary labor.2
“Effective visibility and control of contingent labor spend continues to be a growing priority for best-in-class organizations. When effectively managed, it delivers a material impact to the bottom line. Building upon Coupa’s Services Maestro simple requisitioning, procurement, and tracking of SOW-based services offering, DCR Workforce will provide an advanced solution for the full lifecycle of the sourcing and management of contingent workers at scale,” said Rob Bernshteyn, chief executive officer at Coupa. “I am excited to welcome co-founders Ammu Warrier and Naveen Dua and their team to Coupa and look forward to delivering on our shared vision.”
Based in Boca Raton, Fla., DCR Workforce offers a cloud-based application that enables businesses to source, procure, and manage their contingent workforce spend. As part of the Coupa BSM Platform and marketed as Coupa Contingent Workforce, DCR Workforce empowers companies to manage the end-to-end lifecycle for services and contingent workforce spend. This includes:
- Initiating requests for a staff augmentation or services project, collecting bids, and evaluating and selecting the right candidates, project bids, and suppliers
- Approving candidates or service projects and creating and releasing work orders
- Enabling controls on onboarding and offboarding assets and access
- Tracking time, expenses, and signing off on deliverables, as well as analyzing services spend and worker performance
- Completing invoicing, payments, and spend management for contingent workers as well as projects
“In today’s gig economy, businesses have greater access to temporary labor and services around the globe to augment their workforce in new and innovative ways. With this expanded labor force comes the need for more sophisticated solutions to manage onboarding, offboarding, and services delivery, all while ensuring local labor and compliance requirements are met,” said Ammu Warrier, president at DCR Workforce. “We are thrilled to join Coupa to deepen the company’s offering in this space so that businesses can spend smarter across every aspect of their business.”
DCR Workforce was recently named a leader in the Forrester Wave for Services Procurement Q1 2017. The company also won six Stevie American Business Awards, for among other things, most innovative tech company of the year (up to 2,500 employees) and company of the year (computer software – large).
To read more about the acquisition, click here.
To learn more about the Coupa BSM Platform, which empowers the world’s most successful organizations with the visibility and control they need to manage all their spend in one place, click here.
About Coupa Software
Coupa Software is the cloud platform for business spend management (BSM). We deliver “Value as a Service” by helping our customers maximize their spend under management, achieve significant cost savings, and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations 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 – use 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 DCR Workforce
DCR Workforce is a leading provider of SaaS solutions for contingent workforce management and services procurement. The company’s Smart Track VMS offers a unified approach to managing all aspects of non-employee engagement. To learn more, please visit www.dcrworkforce.com.
This release includes forward-looking statements. All statements other than statements of historical facts, including the proposed benefits of the acquisition and statements regarding the capabilities of Coupa and DCR Workforce following the acquisition, are forward-looking statements. These forward-looking statements are based on Coupa’s current expectations and projections about future events and trends that Coupa believes may affect its financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs.
These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially, including difficulties with the integration process or the realization of the benefits of the acquisition. These and other risks and uncertainties that could affect Coupa’s future results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Coupa’s quarterly report on Form 10-Q filed with the SEC on June 6, 2018, which is available at investors.coupa.com and on the SEC’s website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings Coupa makes with the SEC from time to time.
The forward-looking statements in this release reflect Coupa’s expectations as of the date hereof. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
1 Forrester Research, Forrester Wave Services Procurement Q1 2017
2 Gartner Research, Market Guide for Services Procurement Solutions May 2018
Vice President, Corporate Marketing