Businesses are continuously looking for ways to optimize procurement operations, reduce inefficiencies, and improve decision-making through automation. In response to this demand, Levelpath has introduced an integration designed to streamline procurement by incorporating its artificial intelligence-powered procurement automation platform into Coupa’s AI-native Total Spend Management Platform. The integration aims to improve efficiency and simplify procurement processes for organizations seeking data-driven solutions.
Levelpath’s platform has previously focused on AI-driven procurement, securing $44.5 million in funding in September 2023 to enhance its capabilities. Meanwhile, Coupa has continuously expanded its spend management platform, introducing over 100 new features in February to enhance supplier collaboration and efficiency. This integration marks another development in both companies’ strategies to improve procurement and spend management.
How Does the Integration Impact Procurement Operations?
By combining Levelpath’s automation technology with Coupa’s spend management tools, procurement teams can reduce cycle times by as much as 60%, according to Levelpath. The integration automates repetitive tasks and provides real-time analytics, enabling organizations to make data-backed procurement decisions. This approach is expected to enhance overall operational efficiency and streamline workflows.
“Our Coupa integration empowers procurement teams to automate routine tasks, reduce cycle times and make data-driven decisions through real-time analytics and intelligent workflow automation,” said Alex Yakubovich, CEO and co-founder of Levelpath.
What Does Coupa Gain from This Partnership?
As part of this collaboration, Levelpath has been certified as a solution in the Coupa App Marketplace, allowing Coupa customers to access its procurement automation technology. This certification is part of Coupa’s App Marketplace Partner Program, which supports third-party integrations that complement its platform.
“We’re excited to welcome Levelpath to the Coupa App Marketplace, providing our customers with enhanced capabilities to optimize their spend management processes and deliver greater value across their organizations and platforms,” said Nigel Pegg, senior vice president of platform at Coupa.
The integration aligns with a growing trend among retailers and manufacturers investing in digital procurement technology. A PYMNTS Intelligence report found that 31% of retailers and 42% of manufacturers have already adopted procurement technology, with many others planning to do so. The increasing focus on automation highlights the demand for tools that simplify procurement and improve efficiency.
Coupa’s continuous expansion of its spend management platform indicates a broader industry shift towards AI-driven procurement. Earlier this year, Coupa introduced advanced AI features designed to improve supplier interactions and procurement efficiency. These ongoing developments suggest that automation and intelligent analytics will play a crucial role in procurement processes in the coming years.
Organizations looking to enhance procurement efficiency may benefit from exploring AI-powered automation solutions. The integration between Levelpath and Coupa provides an example of how technology can reduce administrative burdens and improve procurement decision-making. As businesses increasingly invest in digital procurement, similar collaborations could become more common, shaping the future of procurement automation.
