Coupa & HSBC team up for safer B2B payments
Coupa Software and HSBC are embarking on a strategic collaboration, under the Coupa Pay offering, which will provide European companies with a secure way to manage payments.
Boosting efficiency and productivity in procurement teams
The cloud-based Business Spend Management (BSM) platform, Coupa, allows businesses across the world to ‘maximise value and operationalise purpose’ within their business spend.
Through this, Coupa merges processes across:
- Supply chain
- Finance functions
As remote work policies continue to rise in popularity, businesses are also fighting off attempts of fraud.
As a result, B2B payment methods, which are safe and secure, are also becoming highly desired in businesses.
The use of virtual cards can:
- Give businesses full control regarding pre-approved spend
- Streamline reconciliation
- Boost efficiency and productivity in procurement teams
Thorough using Coupa Pay with HSBC, companies can:
- Create a more efficient accounts payable process
- Generate insights on company-wide spend
- Manage risk effectively
- Optimise liquidity and working capital in a cost-effective way
Operational efficiency and security in digital procurement
Coupa is delighted at HSBC’s involvement.
"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."
“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”, said Brian Tomkins, global head of Commercial Cards at HSBC. “We have already seen a number of 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.”
“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.”