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THE 2023 COUPA FINANCIAL SERVICES BUSINESS SPEND MANAGEMENT (BSM) BENCHMARK REPORT

Accelerate Your Financial Services Company's Performance

10 powerful KPIs to help you spend smarter, based on actual spend transactions and processing activity of nearly US$4.9 trillion of cumulative global business spend.

Download the 2023 Financial Services Benchmark Report

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What’s Inside

Learn how financial services companies are using a BSM platform to improve:

  • Spend control — How well do you use precision tools to contain costs?
  • Profitability by managing spend — How easily can you find ways to boost margins
  • Operational resilience — How resilient are your operations in the face of uncertainty and risk?
  • Operational efficiencies — How well have you improved agility and productivity?
  • ESG performance – How well do you drive positive change and comply with regulation?
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This report is based on data anonymized and aggregated across more than 3,000 companies and $4 trillion in global cumulative spend.

Covering 10 community-powered KPIs across procurement, invoicing, expenses, and payments, our Business Spend Management Benchmark Report outlines why each KPI matters and how financial services leaders can:

INCREASE PROFITABILITY
INCREASE PROFITABILITY
DRIVE EFFICIENCY
DRIVE EFFICIENCY
MANAGE COMPLIANCE & RISK
MANAGE COMPLIANCE & RISK
WORK TOWARD ESG GOALS
WORK TOWARD ESG GOALS

Here’s a Sneak Peek

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6.5%

Overall Savings

What impact can spend control make with a BSM platform?

6.5% Overall Savings

Improve margins through savings more than the typical 2% to 3% yield for traditional spend management approaches by applying BSM practices

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95.7%

Pre-Approved Spend

How much invoiced spend is linked with approved POs?

95.7% Pre-Approved Spend

Avoid fraud, blown budgets, and spend with risky suppliers by improving control over spend

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93.9%

First-Time Match Rate

How many invoices are matched with POs and receiving documents without exception handling?

93.9% First-Time Match Rate

Increase agility and productivity by bringing procurement and invoicing onto a single platform

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How Does Your Business Stack Up?

Understand how well the company is doing right now as a first step toward smarter ways of improving margins, doing more with less, and developing ESG commitments.

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