Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, today announced that the leading financial services group in Asia, DBS Bank Ltd, has selected the Coupa cloud platform to digitise its spend processes.
The Coupa platform will replace DBS’s current procurement systems and will be rolled out globally to more than 22,000 employees in more than 280 branches across 18 markets. The implementation will be led by KPMG in Singapore and will initially be deployed to users across Singapore, China, Hong Kong, Taiwan, Indonesia, and India.
After an extensive market evaluation, DBS selected Coupa for its walk-up usability leading to adoption by both employees and suppliers, the proven collaboration success Coupa customers achieve with their global suppliers, and elegant integration to DBS’ multiple ERP systems, primarily Oracle PeopleSoft.
“Improving corporate governance to protect the interests of all our stakeholders is a strategic priority for us,” said Donna Trowbridge, group head of procurement at DBS. “Coupa will enable us to digitalise spend processes and reap group-wide benefits through increased profitability, cash flow control, risk reduction, and global spend visibility. The platform’s configurability is unmatched and gives us the agility we need to react quickly as our business changes due to internal and external forces.”
As one of the world's leading financial services organisations, DBS aims to make banking easy for its customers. As an Asia-centric commercial bank, it is also focused on harnessing the region’s long-term potential as the centre of economic gravity shifts eastwards to Asia. DBS seeks to intermediate trade and investment flows between Asia’s three key axes of growth - Greater China, South Asia, and Southeast Asia - as well as participate in Asia’s growing affluence.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has been recognised for its leadership in the region, having been conferred “Asia’s Best Bank” by The Banker and Euromoney, and “Asian Bank of the Year” by IFR Asia. The bank has also been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
Rob Bernshteyn, CEO of Coupa, said DBS’ selection of Coupa will allow the global bank to focus on transforming and simplifying its procurement operations to deliver measurable value to the company.
“Technology is causing a fundamental shift in business, and the winners will be those that can drive down costs and optimise their businesses,” Bernshteyn said. “DBS understands that digitising its business and managing all categories of business spend is more critical now than ever. We welcome DBS to our family of customers doing business throughout Asia.”