This holiday season, give your CFO the gift of savings! Use Coupa's built-in reports to gain insight into how much your company saves through the process enhancements you introduced with Coupa. Coupa's reports also let you see how your company measures up against other Coupa clients with benchmarking KPI’s. Make sure you have these bad boys set up before year end and be ready to talk about the results at your next performance review!
To get started, you’ll need to configure the benchmarking settings under Setup > Company Setup > Dashboard Controls.
You control how Coupa estimates your process savings for each of these objects in Coupa:
- Expense reports
- Invoices created internally
- Invoices created by suppliers
Of course, Coupa provides you with average data right on the setup page to give you a reference point, but we also expect that you understand your business processes better than anyone else. That’s why you can enter in a custom average savings for each transaction. Coupa then uses this in your reporting dashboards.
Comparing Your Results
Now that you've got some data set up to calculate more reports in your system, it’s time to see how you measure up against your peers. Just select Yes! under the Benchmarking section of your Dashboard Controls setup. Once you're enrolled in the program, Coupa will add your data anonymously and in aggregate to our pool of benchmarking customer data and show you how stack up against the average.
In order to see benchmarking data, you have to share your own data. Don’t worry! We know your spend data is important to you, so we keep it completely anonymous. No other customers will have any access to your specific data. Coupa only uses it to help calculate our benchmarked KPI's.
Once you’re all set up, go to Reports > Dashboards and then select Benchmarking to see you stack up. Once you’re done, poke around some of the other dashboards and get more insight into your Coupa savings.
Like what you see? Want to know what others think?
Feel free to join in the Coupa Community and brag a little bit about the success you’ve realized so far. You can share your savings estimates or swap ideas about how to realize more savings with other members of the community.