Helping Companies Control Costs and Get Profitable

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Aug. 19 (Bloomberg) – Coupa Software CEO Rob Bernshteyn discusses the cloud-based company’s growth, managing costs for clients and competing with the likes of Oracle and SAP. He speaks with Deirdre Bolton on Bloomberg Television’s "Money Moves." (Source: Bloomberg)

Fund managers, goldman bank analysts are forecasting record crops.

For the past three months they have been cutting back their original forecast, the biggest harvest ever.

They are still forecast to a lot over friday.

In seven key farming states, their own crop estimate comes out friday.

Focusing on a big name, we found out that john paulson was finally selling some of his stake, but they have been rising?

Pretty much.

Lower on the day, in the last few weeks what is interesting is that traders have gone bearish on gold, capping positions last week, bullish.

Joining us there from the newsroom with the latest on agricultural commodities and gold, of course.

To the business of technology, land legs, adidas, just three companies, they are icloud based company with a stated mission of managing costs for clients, basically anything that involves purchasing, repositioning, organizing employee expenses -- it is a long list pyrrhic -- long list.

The ceo is with us now.

Robert, glad to have you with us.

I know you have seen great growth since the company was founded in 2007. there was something like 17 straight quarters of gross margin expenses.

What did your companies want most from you?

The companies that we worked with want to get creative profitability, is just that simple.

But we have enabled these employees to search, browse, and rightfully look for the goods and services needed to run their day.

Preferred suppliers, 10 cents on every dollar, that is the impact we are seeing with customers, 350 customers around the world.

I know that you made a suggestion for capitol hill with that metric?

That is right, if you look at the way the camera process works, billions of dollars on that kind of paper, what is required to build roads and bridges, the safety house from those individuals, there was a huge opportunity for the government.

I know that when this company was founded, online that basically hated the systems that they were working on, how did you bridge that gap?

Just to ease the interface?

That is exactly right, most of them began with back-office technology slated for a few users and they hated it.

Our paradigm was 180% different, beginning with the end user, hidden from complexity, the shopping experience with similar to online.

They would rather use this than any other way than getting the goods and services they need.

You should see what they are grabbing, billions of dollars every month.

We mentioned that oracle and sap are two of your largest competitors.

What is your plan to defend your position?

We are building out this market opportunity that has been left nascent for a decade and a half.

Any organization regardless of size, you ask folks, how do you get what is needed to do your job?

We will get a dozen different answers.

All of that was spent under management, really leaving this category, as i mentioned, 100% growth year over year, all of my colleagues had 100% renewal rates, meaning the customers get real, represented quantifiable value.

We will continue the conversation in just a minute, stay with us, we will have more with robert bernstein in just a moment.

We will be talking about immigration reform, is subject very important to business heads as they search to retain top talent.


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