SAN MATEO, Calif., Jan. 22, 2019 /PRNewswire/ -- Coupa Software
(NASDAQ: COUP), a leader in business spend management (BSM), today
announced a strategic collaboration with J.P. Morgan. Coupa will
commence partnering with J.P. Morgan's Single-Use
AccountsSM (SUA), virtual card, to enable a fast,
secure, and a convenient way for businesses to manage payments
within their broader business spend management strategy.
"We're excited to partner with J.P. Morgan as a card issuer of
our virtual card solution to provide businesses with greater
visibility and control into their payments process," said
Ravi Thakur, senior vice president
of Business Acceleration at Coupa. "As an established and
innovative financial services company, their expertise and
solutions will offer our customers tremendous value to ensure
they're transacting not only simpler, but smarter."
Using Coupa Pay with J.P. Morgan's SUA solution, a user requests
a virtual card by submitting a purchase requisition through Coupa.
Once approved, a unique SUA credit card number is generated for the
authorized supplier and amount, and Coupa automatically reconciles
the resulting charges and statements back to the purchase order.
Virtual cards reduce finance workloads, creating a more efficient
way of engaging with high volume, low-value, and one-off suppliers.
Additionally, similar to a standard corporate credit card,
businesses can pay suppliers upfront without affecting cash flow or
tying up important capital.
"Our partnership with Coupa is a win-win," said John Skinner, head of client management for
Commercial Card at J.P. Morgan. "It's a win for our clients who
will gain greater insight into their spend, increased control and
security, and automated reconciliation. It's also a win for
suppliers who will be paid faster, experience a streamlined
Accounts Receivable process, and receive better data for
reconciliation."
"We're excited about Coupa's partnership with J.P. Morgan,"
said JR Miller, vice president of finance and controller at the
Leukemia and Lymphoma Society. "The ability to leverage our
existing banking relationship with J.P. Morgan and get more out of
our investment with Coupa in a fully integrated and controlled
solution that now extends into payments is a huge value."
To learn more about Coupa Pay, click here. To read more about
how Coupa can help your company achieve greater visibility into its
business spend, visit www.coupa.com.
About Coupa Software
Coupa Software is the leading
provider of BSM solutions. We offer a comprehensive, cloud-based
BSM platform that has connected hundreds of organizations with more
than four million suppliers globally. Our platform provides greater
visibility into and control over how companies spend money. Using
our platform, businesses are able to achieve real, measurable value
and savings that drive their profitability. Learn more at
www.coupa.com. Read more on the Coupa Blog or follow @Coupa on
Twitter.
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SOURCE Coupa Software