Levelpath Integrates Procurement Automation Capabilities With Coupa’s Spend Management Platform
Levelpath announced an integration that brings the procurement automation capabilities of its artificial intelligence-powered procurement platform to Coupa’s AI-native Total Spend Management Platform.
The combination can help organizations streamline their operations and reduce their procurement cycle times by up to 60%, the company said in a Friday (March 14) press release.
“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,” Levelpath CEO and co-founder Alex Yakubovich said in the release.
The integration came as a result of Levelpath’s platform being certified as a Coupa App Marketplace solution and joining the Coupa App Marketplace, according to the release.
The certification validates that Levelpath meets the requirements of Coupa’s App Marketplace Partner Program, which enables software partners to develop complementary solutions that integrate with the Coupa platform, per the release.
“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,” Nigel Pegg, senior vice president of platform at Coupa, said in the release.
Retailers and manufacturers are investing in digitizing procurement, according to the PYMNTS Intelligence report “Digital Payments: Modernizing Procurement Processes.”
The report found that 31% of retailers are investing in procurement systems and another 53% plan to. It also found that 42% of manufacturers are already investing in procurement technology and another 44% plan to.
Levelpath said in September 2023 that it raised $44.5 million to launch its AI-powered procurement platform. The company said it aimed to improve the procurement experience by using AI to solve procurement processes that are often siloed and time-consuming.
Coupa said in February that it enhanced its spend management platform by adding more than 100 new features aimed at boosting operational efficiency and supplier collaboration and engagement.
“The innovations in our latest release sharpen our direct spend capabilities for customers, improving how both buyers and suppliers connect and collaborate, transact and grow their business,” Coupa Chief Product and Technology Officer Salvatore Lombardo said at the time.
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