Coupa, a global player focused on Business Spend Management (BSM), and Goldman Sachs Transaction Banking (TxB), a digital-first, cloud-based bank provider, announced a joint initiative “to simplify payment processes between businesses and their global supply chains.”
Making payments between businesses “is fraught with operational challenges that are costly, onerous, and inefficient.” Through this collaboration, Goldman Sachs TxB and Coupa enable customers to easily “make payments, including domestic, cross-border, and foreign exchange (FX) payments to 124 currencies, across 167 countries.”
The business payments solution from Goldman Sachs TxB and Coupa offers:
- Fast Integration: API-led integration leading to a real-time and rich transparency of data exchange
- Quick & Convenient Payments: with the ability to make payments within the Coupa experience allowing for streamlined processes
- Enhanced Cross-Border Payments: offering SWIFT GPI to track payments from end to end and increase efficiencies throughout the payment process
Brinda Bhattacharjee, Head of Product, Transaction Banking at Goldman Sachs, said:
“We are collaborating with Coupa to further innovate in the world of payments through smarter and seamless solutions that provide a consumer-like user experience to our customers. This collaboration allows us to unlock additional value for global businesses looking to modernize their payments processes and increase visibility for both buyers and suppliers.”
Raja Hammoud, Executive Vice President of Products at Coupa, said:
“Optimizing cost while reducing risk is core to delivering maximum value to Coupa customers. Our collaboration exemplifies Coupa’s focus on innovation and driving success for our customers. Enhancing the Coupa platform with Goldman Sachs TxB capabilities will further streamline and centralize payments for customers and their suppliers around the globe. We are excited to transform the world of business payments from complex and slow to simple and fast.”
As noted in the update, Coupa is “the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions.”
Coupa empowers organizations around the world “to maximize value and operationalize purpose through their business spend.”
