Coupa Software, a leader in cloud-based spend management, announced today that it has acquired Simeno Holdings AG, a leader in cross-catalog search and advanced catalog management.
Simeno creates localised content from third-party supplier sites to power cross-catalog searches, including content from many of the leading B2B marketplaces. Coupa plans to grow its Open Buy Program with the addition of the marketplaces to deliver a best-in-class cross-catalog search capability that is competitively distinguished. The acquisition also increases Coupa’s local presence in key German and Swiss markets.
“One of the emerging trends within procurement technology is the ability to bring more spend under management by integrating ‘out-of-catalog’ purchases, while maintaining control of an organisation’s approval workflows and business rules. Coupa is leading the charge in this area, first integrating Amazon Business in a unique way compared to competitors, and now integrating Simeno's cross-marketplace search capabilities into its platform,” said Xavier Olivera, lead procure-to-pay analyst at Spend Matters. “Customers will benefit through improved search experiences and a marketplace-driven approach to shopping that maintains procurement controls.”
Based in Basel, Switzerland with offices in Germany and the United States, Simeno is used by some of the world’s largest organisations running SAP SRM, SAP PM, SAP MM, Oracle iProcure, and more. The solution provides a powerful shopping “front-end” capability for these systems to augment catalog search and management.
“Our cloud platform has transformed how organisations spend money, as evidenced by the significant and measurable results achieved by our customers. With our acquisition of Simeno, we continue to execute on our vision of delivering the most Open and User-Centric cloud platform for business spending in the market” said Rob Bernshteyn, CEO of Coupa. “We're excited to welcome the Simeno team to Coupa.”
Simeno’s streamlined search experience enables employees to simultaneously search company managed catalogs and supplier managed catalogs. Simeno, whose catalog capabilities are available in 20-plus languages, focuses on supplier catalog management as well as fast uploading and searching.
“When we created Simeno, our goal was to simplify the complex world of supplier content search and improve the buying experiences of ERP users,” said Udo Grünhoff, founder of Simeno. “Coupa gives us the opportunity to expand upon our goal by sharing our technologies with even more organisations around the world. We’re excited to join a forward-thinking company committed to innovating spend management and doing right by all of its customers.”
Born in the cloud, Coupa delivers a modern spend management platform that accelerates business by unifying processes across all the ways employees spend money. These processes cover travel and expense management, procurement, invoicing, and related source-to-settle areas. Using the Coupa Open Business Network, the platform has connected more than 3 million suppliers and delivers a powerful solution for businesses committed to controlling their spend.