Coupa Software, a leader in business spend management, has announced that it has acquired Aquiire, the leader in real-time supplier catalog search. With 13 patents pending or issued, Aquiire extends Coupa’s capability to deliver a comprehensive business-to-business (B2B) shopping experience spanning real-time, cached, and localised catalog search.
Today, without real-time search capability, employees often waste precious time and productivity navigating catalogs across many different supplier websites to find the products they need. With Aquiire’s patented technology part of the Coupa BSM Platform, employees can get all the information they need across suppliers in real-time with one instant search. This instant search allows for real-time competitive shopping, which can lower price as well as improve overall employee productivity.
“Our goal is to transform how businesses manage spend. Our innovations combined with Aquiire provides the flexibility of real-time, cached, and localised search in the hands of every employee so they can spend smarter,” said Rob Bernshteyn, chief executive officer at Coupa. “I’m excited to welcome the Aquiire team to Coupa. Together, we will continue building the most comprehensive and user-centric BSM platform in the world and deliver real value to businesses everywhere.”
“Our technology truly delivers on the promise of real-time universal shopping that delivers businesses value and savings,” said Mike Palackdharry, president and CEO at Aquiire. “We are thrilled to join Coupa and be another integral part of their business spend management offering that is used by leading organisations around the world.”
Aquiire is based in Cincinnati, Ohio and was backed by Vora Ventures. It was recently named to the “50 to Watch 2018” list by Spend Matters.
“Coupa is working to put significant distance between itself and its rivals by using more modern approaches to access B2B supplier catalogs,” said Xavier Olivera, director of procure-to-pay research at Spend Matters. “On the heels of buying Simeno for cached catalog search, the acquisition of Aquiire supports Coupa’s strategy of delivering a consumerised B2B shopping experience using a Google-like catalog search, coupled with the compliance that businesses need. Given past performance, we expect Coupa will quickly embed Aquiire’s patented, real-time search and advanced price comparison, providing an industry-unique shopping model and pricing intelligence.”