Would you have chosen Coupa as your solution provider back when?

I had an exchange on LinkedIn with Coupa’s EVP, Strategy, and Product Management Donna Wilczek, regarding her departure from the company after 13 years.

However, before I get to that, I want you to consider a few of Donna’s highlights from her post.

• We grew Coupa from $1 million in recurring revenue into a $1 billion powerhouse.
• We built a differentiated platform, powered by an innovative community AI model.
• We cultivated a vibrant customer community with our spirit of “ensure customer success” driving our decisions.
• We earned over 100 software patents (24 with my name), secured leadership positions in 150+ analyst reports, and went toe-to-toe with SAP!
• Along the way, we had an incredible IPO, a meteoric public market rise, and ultimately, a successful Thoma Bravo privatization valued at a staggering $8 billion.

Once again, I want you to really consider the above as you read the following exchange:

Jon W. Hansen – Strategic Advisor/Analyst Specializing in Emerging AI Tech

Here is the link to the first article I ever wrote about Coupa Software in 2008 – https://bit.ly/3V49EmM

I also remember interviewing Rob Bernshteyn for my Titan’s Series not long after he took the helm of the company in 2009 – https://bit.ly/3F0nWNN

It has been an interesting 16 years.

All the best for your continued success with your next endeavor, Donna Wilczek.

Donna Wilczek – EVP, Strategy and Product Management @ Coupa

“the COUPA methodology and solution overcomes barriers by not creating them in the first place” sums up so much of Coupa and now my own personal belief system. I’ll always be grateful to Dave Stephens and Noah Eisner for creating a company that got it right from the very start.

Jon W. Hansen thanks for all your hard work through the years helping people understand this ever changing industry!

A Great Journey

Not long after I launched this blog in May 2007, Dave Stephens contacted me about sponsoring Procurement Insights. Having built up and sold my software company in 2001, I understood the need for economy and how the big analyst firms charged a staggering amount to get coverage and exposure in the industry.

As a result, I charged a rather humble sum of $250 per year to put up a dedicated page for a sponsor company and covered them with a few articles throughout the year. I always felt that these up-and-coming companies had something great to offer, and it was my hope that I could play a small part in getting the word about them in the market.

Over the years, I have made this same $250 arrangement with other nascent and promising enterprises, such as Zycus, Buyers Meeting Point, Freightos, MarketDojo, Scout RFP, Nipendo, Rosslyn Analytics, E2open, and many more. I consider it a privilege to be a part of this emerging industry and the exciting new players who were (and did) change the procurement world.

It is important to mention that other blogs, such as Jason Busch’s Spend Matters, Michael Lamoureux’s Sourcing Innovation, Phil Fersht’s Horses for Sources, and several others, shared my enthusiasm for the industry during this period.

Back To Coupa

If you go to the Search box in this blog and type coupa, you will be able to read the multitude of posts I have written since 2008. It is like a history lesson that collectively paints the picture of an incredible journey.

I, of course, have my favorites. Here are three of them in no particular order:

• Pitching a Joe Namath-type guarantee, COUPA has both the moxie and track record to pull it off (June 2nd, 2011)
• Snakes in a playpen and why the current Coupa and recent SAP press releases tell a different story of the same shifting paradigm (June 15th, 2010)
• Redefining Procurement: How Coupa has bridged the Gap Between what is known and what is possible (June 23rd, 2009)

In Hindsight

We all know where Coupa is in 2024. However, would they have been one of your top choices as a provider in 2008? How about 2011?

If solution provider maps existed in 2008, would Coupa have been one of the logos to make the cut based on today’s standards?

From where I stood back then, I would say yes – definitely! However, it wasn’t because of the technology but the people and vision behind it that would and did influence my decision. Besides the depth of experience and expertise, Coupa “got it right” from the very beginning. Even though they had to contend with the dominant ERP players, they stayed true to their vision, and the rest, as they say, is history.

From Hindsight To Foresight

In August last year, I wrote the following post: Why it’s time for service provider leadership to step out from behind their organizations’ logos. My approach or method in selecting and recommending a provider in 2024 is the same as it was in 2008—asking and answering the questions of who, what, when, where, and why.

I don’t want to know about your market cap or review a litany of case strategies that are more marketing than substance. Don’t even get me started on press releases that usually garner likes and comments from the choir. Instead, I want to know you, the history of your company, and the ability to talk directly with existing and former clients and, yes, when necessary, past executives and employees.

For example, Donna Wilczek’s post announcing her departure is a more powerful reference for me than most case studies I read or “We Made It” Magic Quadrant announcements.

Today’s Takeaway

Forget the noise and beautifully crafted ChatGPT text. Put aside the newlywed-type press releases when everybody is in love with everybody. Roll up your sleeves, make some calls, and be prepared for some pushback when you ask the tough questions because the “nobody ever got fired for buying IBM” days are long over.

I will one day have to tell you the story about the importance of reading behind the lines of client references.

In the meantime, thank you, Coupa, for the fun ride. It was to cover you from when you began to where you are today!

The hint words regarding the next post are – Joe Garafalo

30