Top 5 Coupa Alternatives in 2024: An In-Depth Comparison

ByPaul Christiano Last Update on

As you begin your search for a new procure-to-pay solution, you may be wondering what are the best alternatives to consider beyond the mainstream choice of Coupa. With over 20 specialized vendors in this market, all touting their unique capabilities, the options can quickly become overwhelming.

In this comprehensive guide, I‘ll cut through the noise to reveal the top five Coupa alternatives you should evaluate for your enterprise needs. These recommendations come from extensive research and conversations with leading industry analysts at Gartner, Forrester, and IDC.

Let‘s start with a quick refresher on Coupa, including when it excels and where it falls short for some organizations.

Overview of Coupa Software

Founded in 2006, Coupa provides a comprehensive suite of cloud-based software covering procurement, invoicing, expenses, and payments. It consolidates these capabilities into a single Business Spend Management (BSM) platform.

According to Gartner, Coupa holds a 9.1% market share in the procure-to-pay software market, as of 2021:

!function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async");

Coupa is known for its comprehensive functionality, ease of integration, and AI-enabled insights. Let‘s examine some of its key strengths and weaknesses.

Strengths of Coupa

Coupa earns strong marks for the following capabilities:

  • Integration – Easily integrates with 1000+ business applications via cloud connectors and APIs. Tight integration with ERPs like SAP, Oracle, Infor.
  • Supplier Network – Pre-built connections with 4M+ suppliers worldwide for efficient transactions.
  • E-Procurement – Intuitive self-service buying experience across diverse spend categories.
  • AI-Enabled Insights – Leverages community spend benchmarking and machine learning to identify savings opportunities.
  • Mobile Apps – Provides mobile functionality for approvals, invoice processing, expense reporting.

Weaknesses of Coupa

While a leader, Coupa also faces some key limitations:

  • Complexity – Often difficult to navigate for non-expert users. Steep learning curve.
  • Cost – Expensive compared to alternatives, especially for mid-market buyers.
  • Limited Customization – Workflow changes require professional services engagement.
  • Fragmented Modules – Can be difficult to connect modules to enable end-to-end process.
  • Indirect Spend Focus – More robust capabilities for indirect over direct materials procurement.

If these weaknesses resonate with your experience of Coupa‘s limitations, it may be time to explore alternative solutions.

My research and conversations with leading analysts suggest there are five vendors in particular you should have on your shortlist. Let‘s examine each of these top Coupa alternatives.

The Top 5 Alternatives to Coupa

SAP Ariba

SAP Ariba is the dominant choice for enterprises invested heavily in SAP ERP. It offers unparalleled integration and leverages SAP‘s global ecosystem.

Overview: Ariba combines procurement software and B2B commerce in a unified cloud platform. It is owned by enterprise software giant SAP and integrated across SAP‘s portfolio.

Strengths

  • Tight native integration with SAP ERP, FI/CO, Ariba Sourcing, Contracts and other SAP modules
  • Massive supplier network with 5M+ suppliers globally transacting $3.2 trillion in commerce annually
  • Mature platform with 20+ years in the market and full procure-to-pay capabilities
  • Leverages SAP‘s global presence for implementation services and support

Weaknesses

  • Challenging to learn and not the most user-friendly solution
  • Dated user interface compared to newer solutions
  • Customers can be "locked in" to the SAP stack
  • Consumption-based pricing model can get expensive at high volumes

Use Cases: Large enterprises using SAP ERP that want deep certified integration, global scale, and access to SAP‘s broader portfolio.

Customer Examples: Companies like Coca-Cola, Lockheed Martin, Chevron

Pricing: Consumption-based pricing that scales based on usage. Bronze package starts at $50/year for up to 24 documents. Unlimited Platinum package is $5500/year.

Basware

Basware excels at automating accounts payable workflows and offers one of the largest e-invoicing networks.

Overview: Originally focused on AP automation, Basware now provides an end-to-end procure-to-pay suite across modular applications. Interoperable cloud network connects with major ERPs.

Strengths

  • Massive e-invoicing network processing 1 billion transactions and €1 trillion annually
  • Advanced OCR and workflows for 100% touchless invoice processing
  • Specialized AP capabilities like dynamic discounting to optimize cash flow
  • Flexible network integrates with ERPs like SAP, Oracle, Microsoft Dynamics

Weaknesses

  • Relatively light strategic procurement functionality
  • Fragmented modules increase integration complexity
  • Supplier management capabilities not as mature as SAP Ariba
  • Negotiation and sourcing capabilities lag competitors

Use Cases: Organizations highly focused on reducing invoice processing costs and digitizing AP.

Customer Examples: Cargill, DHL, Office Depot

Pricing: Quote-based customized pricing. Published rates not publicly available.

Jaggaer ONE

Jaggaer excels at direct spend management for manufacturers and complex product supply chains.

Overview: End-to-end source-to-pay suite with specialized capabilities for managing direct spend like raw materials and MRO. Now owned by private equity firm Cinven after being spun out from SciQuest.

Strengths

  • Advanced capabilities for direct materials procurement in manufacturing
  • Tight integration with product lifecycle management (PLM) systems
  • Robust contract authoring, management, tracking capabilities
  • Global index connects with 5000+ suppliers and 300M+ SKUs

Weaknesses

  • Third-party OCR tool receives mixed reviews per Gartner
  • User experience not as modern or intuitive as some competitors
  • Mostly absent from active e-invoicing networks
  • Indirect procurement capabilities less mature

Use Cases: Manufacturers and companies buying direct materials with complex sourcing requirements

Customer Examples: Boeing, Volvo, Bosch

Pricing: Quote-based. Published rates unavailable.

Oracle Procurement Cloud

Oracle Procurement Cloud offers unified procurement tightly integrated across Oracle‘s stack.

Overview: Part of Oracle‘s expanding suite of cloud-based business applications. Enables centralized, digital procure-to-pay workflows on Oracle‘s platform.

Strengths

  • Certified integrations with HCM, Finance, SCM apps on Oracle Cloud
  • Modern, consumer-grade user experience
  • Transaction matching with intelligent exception handling
  • Strong supplier contract management capabilities

Weaknesses

  • Significant expertise required to customize flows and reporting
  • Supplier portal not as user friendly as some competitors
  • Full functionality requires moving up tiers
  • Mostly indirect spend focused

Use Cases: Existing Oracle cloud customers seeking integrated procure-to-pay.

Customer Examples: FedEx, Nikon, Honeywell

Pricing: Starts at $625/month for 2 users on Standard edition. Unlimited users on Enterprise edition is $1885/month.

PRM360

PRM360 focuses on delivering an end-to-end yet affordable procure-to-pay suite tailored for the middle market.

Overview: Founded in 2010, PRM360 is a cloud-based source-to-pay solution purpose-built with the mid-market buyer in mind. Headquartered in New Jersey.

Strengths

  • Comprehensive P2P capabilities pre-configured for rapid implementation
  • Highly configurable workflows, fields, and reporting through easy drag-and-drop
  • Modern, intuitive user experience designed for mid-market buyers
  • Vendor-friendly portal for managing POs, orders, invoices

Weaknesses

  • Mostly focused on US-based mid-market vs global enterprises
  • Smaller supplier network compared to SAP Ariba and Basware
  • Light on advanced analytics and AI capabilities
  • Financial integration requires separate module

Use Cases: Mid-sized companies that want capable, configurable P2P without overkill enterprise complexity. Ideal for companies doing $500M – $2B in revenue.

Customer Examples: Randstad, Tecta America, Valmont Industries

Pricing: Quote-based unpublished pricing but estimated around $3000 – $5000 per month.

How Do the Alternatives Compare to Coupa?

Now that we‘ve reviewed the top five Coupa alternatives in-depth, let‘s examine how they compare across some key decision criteria:

!function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async");

While all five alternatives score competitively on core criteria like features, supplier network, and ease of use, each has unique strengths to weigh based on your business needs:

  • SAP Ariba – The leader for SAP-centric enterprises wanting tight ERP alignment
  • Basware -Specialized for e-invoicing and AP automation Use Cases
  • Jaggaer – Purpose-built for direct spend in manufacturing
  • Oracle – Seamless for existing Oracle cloud customers
  • PRM360 – Comprehensive yet affordable for mid-market buyers

The right choice depends heavily on your organization‘s existing software environment, business priorities, and budget.

My recommendation is to take advantage of free trials to experience these solutions first-hand. Seeing the technology in action and testing key workflows will enable you to validate the best fit for your needs.

Key Takeaways and Recommendations

As you evaluate alternatives to Coupa for your enterprise procure-to-pay software needs, keep the following recommendations in mind:

  • Look beyond Coupa – While a strong choice, limitations exist. Be open to alternative solutions.
  • Focus on your key priorities – Integration, user experience, direct materials – what matters most?
  • Leverage free trials – Take advantage of hands-on software evaluations.
  • Consider total cost – Look past license fees at services, change management needs.
  • Take the long view – Weigh how well systems scale with your strategic plans.

With a clear-eyed assessment of stakeholder needs, desired outcomes, and fit with your existing tech landscape, you can confidently select a next-generation procure-to-pay platform primed to deliver value for years to come.

Please let me know if you have any other questions! I would be happy to discuss further and provide any guidance based on my experience implementing these solutions.

I am Paul Christiano, a fervent explorer at the intersection of artificial intelligence, machine learning, and their broader implications for society. Renowned as a leading figure in AI safety research, my passion lies in ensuring that the exponential powers of AI are harnessed for the greater good. Throughout my career, I've grappled with the challenges of aligning machine learning systems with human ethics and values. My work is driven by a belief that as AI becomes an even more integral part of our world, it's imperative to build systems that are transparent, trustworthy, and beneficial. I'm honored to be a part of the global effort to guide AI towards a future that prioritizes safety and the betterment of humanity.

Similar Posts