Coupa Software Incorporated (NASDAQ:COUP) Q3 2019 Earnings Conference Call - Final Transcript
Dec 02, 2019 • 05:00 pm ET
faster and easier for end users to procure supplies for more than 700 healthcare facilities across Brazil. A great example of the letter U in Coupa , which stands for user centricity. In only five months on Coupa, DASA has already reached 95% spend under management issuing 84% of goods PO's [Phonetic] from catalogs.
It's not uncommon for us to see this type of accelerated BSM success in our customer base. So on that note, let me highlight some Coupa customer go-lives just from Q3. Let's start with Finnair, an airline that specializes in flights between Europe and Asia. Finnair implemented Coupa in a rapid eight month deployment. With Coupa, Finnair is digitizing processes and increasing PO coverage by offering the best purchasing experiences to all employees including cabin crew members and pilots.
Next, Genesis Energy, New Zealand's largest energy retailer, recently went live with Coupa to consolidate their business spend management onto one platform. Going from multiple systems onto one platform, Genesis is reducing the duplication of activities with a solution that can scale with their growth.
Multibank a Panamanian banking and financial services firm, went live with Coupa BSM and is using Coupa to increase on contract spend and also cut its budget request cycle times in half. With Coupa, Multibank has not only increased catalog usage and streamlined workflows to allow for fully controlled, traceable and auditable budget pre-approvals, but they have also lowered the use of paper and ink, helping reduce their carbon footprints and preserve our planet.
Novo Nordisk, a multinational pharmaceutical company headquartered in Denmark, recently went live with sourcing contract management, and purchasing in the first phase of a global deployment. In fact, our European community benefited from their Accenture-hosted presentation at our recent Inspire event in London. Just a few weeks ago.
Randstad US, part of a global family of companies specializing in flexible workforce and HR services, went live with Coupa at their rapid BSM implementation. By replacing what they describe as extremely manual processes, with streamlined workflows, Randstad is increasing PO-backed spend by 70% in the first year and reducing invoice cycle times to less than five days. In addition to these efficiency gain, Randstad is expected to achieve enough savings from Coupa Advantage alone, to realize 100% ROI on their subscription costs.
Toyota Motor Corporation Australia, the country's leading automotive company, recently implemented Coupa as part of a strategic transformation initiative for spend visibility, compliance and risk reduction.
In addition to achieving greater spend management, Toyota is targeting 100% electronic purchase orders and a reduction of PO cycle times down to two days within the first six months of being live. So, as you can see, our customers are leveraging the comprehensive nature of our platform, also known as the letter C in Coupa to drive meaningful bottom line results by addressing all areas of business spend in their organization and we couldn't be more excited to see it.
Now, in terms of new customers, let me highlight just