Coupa Software, a leader in business spend management (BSM), announced today that it has acquired the technology assets of DCR Workforce, a leading provider of contingent workforce management and services procurement software. The acquisition further solidifies Coupa’s vision of enabling businesses to manage all their organization’s business spend, including contingent workforce spend, within a comprehensive BSM platform.
According to Forrester, on average, 58 percent of companies’ non-payroll spend is on services1, yet businesses lack the visibility and control to ensure this spend is compliant and the best use of company dollars. With spend in this category continuing to rise, Gartner predicts that by 2020, nearly 20 percent of an organization’s workforce (on average) will be temporary labor.2
“Effective visibility and control of contingent labor spend continues to be a growing priority for best-in-class organizations. When effectively managed, it delivers a material impact to the bottom line. Building upon Coupa’s Services Maestro simple requisitioning, procurement, and tracking of SOW-based services offering, DCR Workforce will provide an advanced solution for the full lifecycle of the sourcing and management of contingent workers at scale,” said Rob Bernshteyn, chief executive officer at Coupa. “I am excited to welcome co-founders Ammu Warrier and Naveen Dua and their team to Coupa and look forward to delivering on our shared vision.”
Based in Boca Raton, Fla., DCR Workforce offers a cloud-based application that enables businesses to source, procure, and manage their contingent workforce spend. As part of the Coupa BSM Platform and marketed as Coupa Contingent Workforce, DCR Workforce empowers companies to manage the end-to-end lifecycle for services and contingent workforce spend. This includes:
• Initiating requests for a staff augmentation or services project, collecting bids, and evaluating and selecting the right candidates, project bids, and suppliers
• Approving candidates or service projects and creating and releasing work orders
• Enabling controls on onboarding and offboarding assets and access
• Tracking time, expenses, and signing off on deliverables, as well as analyzing services spend and worker performance
• Completing invoicing, payments, and spend management for contingent workers as well as projects
“In today’s gig economy, businesses have greater access to temporary labor and services around the globe to augment their workforce in new and innovative ways. With this expanded labor force comes the need for more sophisticated solutions to manage onboarding, offboarding, and services delivery, all while ensuring local labor and compliance requirements are met,” said Ammu Warrier, president at DCR Workforce. “We are thrilled to join Coupa to deepen the company’s offering in this space so that businesses can spend smarter across every aspect of their business.”
DCR Workforce was recently named a leader in the Forrester Wave for Services Procurement Q1 2017. The company also won six Stevie American Business Awards, for among other things, most innovative tech company of the year (up to 2,500 employees) and company of the year (computer software – large).