Coupa Completes Acquisition of Contract Lifecycle Management Leader Exari
Coupa Software (COUP), a leader in business spend management (BSM), announced that it has completed the acquisition of Exari, a leading provider of contract lifecycle management (CLM). The acquisition extends the Coupa Contract Management solution with advanced CLM capabilities, including functionality for contract creation, collaboration, and discovery, enabling companies to comprehensively manage the entire contract lifecycle and operationalize their contracts against spend transactions.
“Unifying Exari’s advanced CLM capabilities with the more than $1 trillion of rapidly growing transactional spend in the Coupa BSM Platform will enable us to deliver even more value to our customers across all aspects of business spend management,” said Rob Bernshteyn, chairman and chief executive officer at Coupa. “I am pleased to officially welcome the Exari team to Coupa, where together we will empower companies around the globe to be successful across their enterprise-wide contract management initiatives.”
The acquisition further solidifies Coupa’s vision of enabling businesses to manage all of their business spend comprehensively on the Coupa BSM Platform. Exari’s advanced CLM capabilities will be unified with the Coupa BSM Platform so that businesses can manage the entire contract lifecycle – from contract request, creation, and approval to negotiation, signature capture, and optimization with compliance built in throughout the process – across all aspects of business spend.
“We are excited to join Coupa and make our advanced CLM solution a core part of any organization’s overall business spend management strategy,” said Bill Hewitt, chief executive officer at Exari. “Our visions are aligned, and we look forward to joining our new Coupa colleagues and their vibrant company culture focused on measurable results for all customers.”
“Contracts are not just the heart of business-to-business commerce, but also the brains; yet, most contracts are just ‘dumb’ documents. Making contracts intelligent requires much more than a traditional contract management solution. Exari’s advanced capabilities deliver contract intelligence and a unique knowledge model that translates legalese into the language of business in terms of spending commitments, complex cost/service elements, and business risks,” said Pierre Mitchell, managing director at Spend Matters and Azul Partners. “For this reason, Coupa’s acquisition of Exari is a master-stroke acquisition that gives Coupa a powerful intelligent solution to help solve enterprise-wide commercial business challenges rather than just contract document management challenges.”