SAN MATEO, Calif., Jan. 12, 2022 /PRNewswire/ -- Coupa Software
(NASDAQ: COUP), a leader in Business Spend Management, today
announced a strategic collaboration with HSBC under its Coupa Pay
offering. Commencing with virtual cards, the collaboration will
provide European companies with access to a fast, seamless, and
secure way to manage payments as part of their comprehensive
Business Spend Management strategy.
The demand for new and safe B2B payment methods continues to
grow as more companies adopt remote work policies and continue to
fight fraudulent activity on traditional payment rails. Virtual
cards help businesses get full visibility and control into
pre-approved spend and streamline reconciliation, helping finance
and procurement teams be more efficient and productive.
"We're thrilled to welcome HSBC to the fast-growing Coupa Pay
global partner ecosystem that is empowering European businesses to
create more modern payments processes," said Roger Goulart, executive vice president of
Business Development and Alliances at Coupa. "The availability
of HSBC virtual cards on the Coupa platform will ensure customers
have all the benefits of virtual payments, including speeding up
payment processes and improving liquidity and working capital."
Brian Tomkins, global head of
Commercial Cards at HSBC, said: "The integration of HSBC
Virtual Card products into Coupa Pay's ecosystem brings together
the operational efficiency, security, and working capital benefits
of our virtual cards with the digital procurement and payables
automation of Coupa's spend management software. We have already
seen a number customer requests to take advantage of the integrated
solution as they are increasingly looking to digital solutions for
operational efficiency and supply chain resilience, allowing them
to focus on growing their business."
Using Coupa Pay with HSBC, companies can reduce friction and
improve efficiency in accounts payable processes. They can generate
insights on company-wide spend to make better decisions, manage
risk more effectively, and optimize liquidity and working capital
in a cost-effective way. Virtual cards also help to enhance
corporate responsibility and supply chain resilience, by supporting
smaller suppliers, safely sourcing from new vendors, and
establishing operations in new markets.
"At Saga, our investment in Business Spend Management is helping
our finance and procurement teams work better together," said
David Moore, finance director at
Saga. "Coupa has been a key part of our digital transformation
journey, which is an important pillar of Saga's future growth
strategy. Thanks to this new collaboration between HSBC and Coupa,
we are now able to have greater control of our spend and can
streamline one-time supplier onboarding through the use of HSBC
virtual cards, powered by Coupa Pay."
To learn more about Coupa Pay, visit
https://www.coupa.com/products/pay. To read more about how Coupa
can help your company achieve greater visibility into business
spend, visit https://www.coupa.com/.
About Coupa Software
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. To learn more about Coupa,
visit www.coupa.com or follow us
on LinkedIn or Twitter.
About HSBC Virtual Cards
HSBC's Virtual Card
programmes help corporations of all sizes to streamline expense
management and payment processes both at home and overseas.
Flexible, secure, digital solutions make payment processes more
efficient, provide rich data and flexible reporting capabilities,
and ensure that individuals and departments remain compliant with
procurement policies. HSBC's Corporate Cards enable corporations to
manage working capital more effectively whilst helping to maintain
good supplier relationships through prompt payment. HSBC's
Corporate Cards also help support corporations' environmental,
social and governance (ESG) objectives by digitising payments, and
are underpinned by HSBC's extensive international network,
expertise and capabilities.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/coupa-to-offer-hsbc-virtual-cards-to-european-businesses-301459075.html
SOURCE Coupa Software