Coupa's Layoffs & What Procurement Tech Can Learn

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In the wake of Coupa's recent layoffs, the state of procurement technology has come under scrutiny. In this video, we delve into what these layoffs tell us about the current landscape of procurement tech, and what implications they have for the future of the industry.
With estimates suggesting that up to 30% of Coupa's employees could have lost their jobs, it's clear that the company was struggling in some way. While we don't know exactly what led to these layoffs, it's likely that they were a symptom of larger issues facing procurement tech companies.
One of the key takeaways from this situation is the need for better internal alignment within these companies. With too many employees and a lack of focus, it's easy for duplication of effort to occur and for projects to get bogged down in internal politics. By reducing their workforce and prioritising collaboration, procurement tech companies can streamline their operations and achieve better results.
Another factor highlighted by the Coupa layoffs is the importance of examining real estate footprints. As remote and hybrid work continues to gain popularity in the post-pandemic era, large office spaces are becoming less necessary - and more expensive. By downsizing their offices and embracing remote work, procurement tech companies can save on costs while also creating a more flexible and agile working environment.
Overall, the situation at Coupa serves as a warning to other procurement tech companies to stay nimble and focused in the face of changing circumstances. By prioritising internal alignment, reducing duplication of effort, and examining their real estate footprints, these companies can weather the storms of the tech industry and emerge stronger on the other side.
Join us as we explore these issues in depth and discuss what they mean for the future of procurement technology.
#procurement #digitalprocurement #coupal_status
Chapters
00:00 Introduction
00:17 Thoma Bravo Buys Coupa
00:44 Coupa Layoffs
00:58 Why are there Tech Layoffs in 2023
03:08 Two-Pizza Rule by Jeff Bezos
04:16 Real Estate Costs for Coupa