Coupa and Goldman Sachs launch B2B payments solution

By Gloria Methri

Coupa, a specialist in Business Spend Management (BSM), and Goldman Sachs Transaction Banking (TxB) have announced a joint initiative to simplify payment processes between businesses and their global supply chains.

Payments between businesses are often fraught with operational challenges that are costly, onerous, and inefficient. Through this collaboration, Goldman Sachs TxB and Coupa hope to 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 leads to real-time and transparency of data exchange
• Quick & Convenient Payments: The ability to make payments within the Coupa experience allows 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.”