Raymond James observed Gartner’s report that saw Coupa Software Inc. gain ~135 points of software market share in procurement, with a growth of 35 percent, more than double the industry average at ~16 percent.
While acquisitions aided that market share gain, Raymond saw that none of the most prominent players (mainly Oracle Corp. and SAP SE. with 43 percent share) grew faster than low double digits.
While the overall spending on procurement has slowed during COVID, we think the data should help alleviate bearish concerns about Coupa’s win rates changing.
By Anusuya Lahiri
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