Pace® optimizes spend management process

Project overview and objectives

Pace®, a science and technology company, implemented Coupa to manage their end-to-end spend processes, electing the software for its market-leading ability to enable anticipated inorganic growth and M&A activities. Their goals?

• Optimize system configurations
• Improve integration accuracy
• Streamline end-user experience
• Enhance application governance
• Increase P2P automation
• Create a future-proofed solution

What we did

We helped them achieve improvements impacting their process, people, and technology.

• Partnered to redesign their supplier management, purchasing, and accounts payable processes, aligning to leading practices and better leveraged technology
• Developed a curated training, upskilling experience by key persona
• Engaged end users and suppliers to ensure investment in the program’s success
• Configured Coupa to address specific requirements, like inbound and outbound integration issues impacting downstream processes and reporting

Impact

By go-live, Pace® saw increased supplier enablement, better purchase orders, and additional automation through the implementation of solutions like CLM-S, with results like:

• Increasing electronic invoices from 4% to 86%
• Standardizing the contract management processes, facilitating downstream spend transactions
• Reducing their approval cycle to < 1 day