Now back to our regular scheduled programming…Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, procure-to-pay (P2P), and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable (AP), B2B payments, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Coupa Software Releases New Coupa Pay Offering for B2B Payments
Coupa Software (NASDAQ: COUP), a San Francisco-based spend management solutions provider, have recently unveiled its new B2B payments solutions suite, Coupa Pay. The new suite offers a set of payment and financing solutions that will empower businesses to track and spend smarter on every transactional step of their business spend management strategy. The first payments solution from Coupa is called Coupa Virtual Cards for PO, and will bring more visibility and control into business spend for Coupa customers. The solution will help reduce the need for manual processing by producing a unique, one-time-use credit card number for authorized suppliers that automatically reconciles credit card charges and statements to the PO.
Coupa is also offering the Coupa Supply Chain Finance (SCF) solution that will provide suppliers with access to third-party payment financing within Coupa, making it simpler for suppliers to get better rates and giving buyers additional flexibility to extend their payment terms. Coupa SCF will bring businesses and their suppliers together on the Coupa BSM Platform, which should reduce complexity and offer a unified user experience. Coupa customers will get value by extending payments as part of their overall business spend management strategy, and their suppliers will get a more efficient and inclusive experience throughout the process.
American Express Partners with WEX to Support V-Cards for Accounts Payable
American Express, has recently announced a new collaboration with WEX, a US-based provider of payment processing and information management services for US government and commercial vehicle fleet industry. Through this new collaboration American Express will utilize WEX’s AP technology, Synaptic, which helps reduce the time for clients to pay their suppliers as it allows users to send payment instructions to Synaptic from their existing accounting system. The solution will help American Express Business and Corporate Card customers make supplier payments via a single and multi-use American Express virtual cards directly within Synaptic. Once payments are processed, American Express virtual card payments are sent directly to suppliers. Users will also have the option of adding an approval workflow before sending payments. Uses can gain access to detailed reporting to facilitate the reconciliation process as well. This integration should provide customers with more efficient and improved cash flow.
Visa and BillTrust Partner to Launch Business Payments Network
Card Giant, Visa, and BillTrust, a New Jersey-based provider of a cloud-based B2B payment cycle management solutions, recently announced that the companies are collaborating on BillTrust’s Business Payments Network (BPN), in order to streamline the delivery of electronic B2B payments. BPN provides a transparent registry of suppliers who accept digital payments, giving buyers and financial institutions the necessary access to automate their process. Collaborating with Billtrust on the BPN will allow Visa to improve the experience for suppliers on the receiving end of payments, while also enabling their financial institution clients to streamline the B2B payments process for their corporate customers. BPN will provide a connected platform for suppliers, buyers, the financial institutions, and AP technology providers.
Kodak Services for Business and CoreIntegrator Announce New ePayables Solution
Kodak Business Services, a provider of Business Process Outsourcing, and CoreIntegrator, a US-based Business Process Automation software company, have recently announced the release of their new cloud-based AP automation solution, A/P One. The two companies have teamed up to automate the workflow for receiving and processing invoices. When an invoice is received by A/P Ones solution, it automates the invoice registration and data entry and verification process. Users apply expense categories to each invoice and route them through an automated approval workflow process. After approval, A/P One creates a batch file to be transferred into your accounting system to trigger vendor payment.
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