Video: AI is already creating jobs and boosting business
Coupa Software announced Tuesday that it's acquiring Deep Relevance, a San Francisco, Calif.-based firm that has a platform for detecting fraud in an organization's spending.
Coupa, which makes cloud-based spend management software, said it plans to apply the AI models developed by Deep Relevance to the spend data Coupa has collected from its customer community.
In doing so, Coupa said it will create a fraud profile based on the analysis of aggregated community data from expenses, purchase orders, and invoices. This profile score can then be used to alert a company's internal auditors or finance team for further review and action on suspicious activity.
"Deep Relevance's unique application of AI allows us to accelerate our vision of helping customers reduce fraud through Coupa community intelligence," said Coupa's product SVP Raja Hammoud. "We're thrilled to work with the Deep Relevance team to apply state-of-the-art fraud detection algorithms to Coupa's hundreds of billions of dollars in accelerating cumulative spend under management."
Coupa bills itself as a savings-as-a-service provider, which basically means it helps customers spend less money over the long tail. The company uses collective bargaining to score prime contract terms on a range of enterprise services for its customers, which include Salesforce, the Container Store, Box, and pharmaceutical firm Sanofi.
PREVIOUS AND RELATED COVERAGE
Contractually's pitch is that, while contracts remain a fixture in business-to-business transactions, the tools for writing and signing them via the Internet are cumbersome and outdated.
TripScanner's technology is essentially an open booking system, giving corporate employees the ability to book travel on any website while still adhering to internal travel policies.
Ford led MobileIron through its IPO last year - something Coupa has been marching toward with all the essential hallmarks.