The global collaboration creates a streamlined
process for domestic and cross border payments.
LAS
VEGAS, April 13, 2023 /PRNewswire/ -- Coupa, a
global leader in Business Spend Management (BSM), and Goldman Sachs
Transaction Banking (TxB), a modern, digital-first, cloud-based
bank provider, today 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
"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," said
Brinda Bhattacharjee, Head of
Product, Transaction Banking at Goldman Sachs. "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."
"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,"
said Raja Hammoud, Executive Vice
President of Products at Coupa. "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."
To learn more about the Coupa Business Spend Management
platform, visit https://www.coupa.com/.
To learn more about Goldman Sachs Transaction Banking, visit
www.gs.com/txb
About Coupa
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, visit coupa.com or
follow us on LinkedIn and
Twitter.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a
leading global financial institution that delivers a broad range of
financial services to a large and diversified client base that
includes corporations, financial institutions, governments and
individuals. Founded in 1869, the firm is headquartered in
New York and maintains offices in
all major financial centers around the world.
About Goldman Sachs Transaction Banking
Goldman Sachs
Transaction Banking, through Goldman Sachs Bank USA and its affiliates, is a modern,
digital-first, and cloud-based business helping clients build the
future of their treasury. The business combines the strength,
heritage, and expertise of a 150-year-old firm with the agility and
entrepreneurial spirit of a tech start-up.
All banking products are offered exclusively by Goldman Sachs
Bank USA (the "Bank"), a
New York state-chartered bank and
a wholly-owned subsidiary of The Goldman Sachs Group, Inc. The Bank
is a member of the Federal Reserve System and Member FDIC.
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SOURCE Coupa Software
