Margin multiplier company Coupa has launched a partnership with business payments provider Bottomline.
The collaboration, announced Monday (April 22), is designed to simplify digital payment processes for businesses, letting Coupa connect to Bottomline’s Paymode-X to automate payments from buyers to suppliers.
“Businesses today are all striving to deliver greater results with more efficiency. This partnership with Coupa and Bottomline optimizes payment processes and drives business results at scale,” Bill Wardwell, general manager of Coupa Pay and Treasury, said in a news release.
“By automating the entire payment lifecycle through Bottomline’s secure payments network, businesses also benefit from stronger supplier relationships by improving payment timeliness and providing better data visibility.”
According to the release, Coupa Pay offers a single platform for managing business payments across different countries and currencies, while also offering enhanced security for payments to suppliers who would rather accept Premium ACH as a payment method.
The partnership is the first to be undertaken through Bottomline’s network-as-a-service solution, announced last fall. It opens the Paymode-X network’s more than 550,000 authenticated suppliers and the network’s proprietary Premium ACH payment type to Coupa Pay customers. Coupa Pay with Paymode-X will become more widely available next month, the release said.
The partnership follows last month’s news that Coupa had teamed with QNB Group, a financial institution serving the Middle East and Africa.
As noted here at the time, the collaboration gives QNB access to Coupa’s unified platform that offers real-time insights into spending and empowers better-informed financial decisions.
“QNB needed a well-established, trusted and innovative technology partner to support this phase of our digital transformation. Coupa delivered on every expectation,” Cory Thwaites, senior executive vice president of group procurement at QNB, said in a news release.
“Coupa’s platform is easy to use for our teams and our suppliers, and it’s completely customizable and adaptable.”
Bottomline, meanwhile, recently expanded the availability of its legal bill review service for property and casualty (P&C) insurance firms and corporate legal organizations.
“Our extended service, now able to function with any platform, delivers top-notch assistance to a broader audience, empowering legal departments to rein in spend leakage fostering greater efficiency and informed decision-making,” Matt Kivlin, head of product management and legal spend management at Bottomline, said in a news release.
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