Coupa, a procurement and accounts payable management software, has unveiled new AI-driven features to enhance its solutions. These innovations aim to automate tasks, improve efficiency, and enable smarter decision-making for businesses.

Key updates include 1) enhanced payments automation, which accelerates invoice processing by digitizing data and automating tax code assignments, 2) streamlined workflow processes that optimize task assignment to provide better visibility and control, and 3) integrations with Tonkean and Tropic on the Coupa App Marketplace to simplify purchasing by guiding employees to make smarter decisions for increased profitability.

The company plans to introduce more AI-based innovations at its upcoming "Coupa Inspire" event.

Coupa also announced an Early Access Program for Forecast Collaboration, a new solution to improve communication between buyers and suppliers. The solution is expected to be generally available from May 2024.