CPO Rising’s Technology Round-Up Series returns today with fresh supply management technology news and updates covering a few recent major announcements. If you are a sourcing, procurement, or spend management solution provider and you are continually innovating the way that procurement and supply chain leaders and practitioners drive value, we’d love to hear from you. Please drop us a note at info at cporising dot com. Thanks, and enjoy!
TransPerfect’s GlobalLink Technology Certified for Coupa’s BSM Platform
NEW YORK — TransPerfect, a leading worldwide provider of language and technology solutions for global business, announced that its GlobalLink translation management technology has been certified for integration into Coupa’s Business Spend Management (BSM) platform.
The company states that the combination of Coupa’s BSM platform and GlobalLink’s centralized user interface provides a seamless, one-stop solution to facilitate the translation process for purchase orders, quoting, and purchase order creation. As a certified CoupaLink solution, GlobalLink meets the requirements established by Coupa for security and functionality.
GlobalLink for Coupa features, include:
- Seamless integration – schedule or use on-demand translation directly on the Coupa platform.
- On-demand analytics – get a dashboard view of translation spend and other KPIs.
- Vendor management – use internal or external translation resources.
- Flexible workflows – use machine translation, human translation, or both with automatic notifications when quotes are ready for review.
- Rapid ROI – reduce IT involvement and eliminate project management overhead.
According to Roger Goulart, executive vice president of business development and alliances at Coupa, “In today’s rapidly evolving market, a punch-out integration enables real-time pricing updates and provides custom configurations with a user-friendly interface,” he said. “We’re proud to have GlobalLink on the Coupa App Marketplace to give our customers a seamless experience when requesting purchase orders for their translation submissions.”
Read the full announcement here.
Aavenir Announces Latest Product Release
DALLAS — Aavenir, a leading source-to-pay SaaS solutions provider and ServiceNow Elite Partner, empowering organizations worldwide to streamline their sourcing, procurement, contracting, and accounts payable processes with AI-enabled digital workflows, announced the latest product release of its AP automation software Aavenir Invoiceflow.
According to Jesal Mehta, Founder and CEO of Aavenir, “This Winter Release is a game-changer for AP teams as it will drastically improve the user experience and efficiency for organizations. We have introduced self-service supplier portals which will accelerate invoice processing allowing AP teams to coordinate with suppliers with improved collaboration over invoice submission and payments,” he said.
“The new release also introduces zero-touch invoice processing and bulk action accelerators for speedy and streamlined invoice processing with complete visibility across review and approval processes — leading to shortened accounts payable cycles.”
The company states that a few key features of the new release, include:
- Split invoice processing: Enables the differentiation/split of multiple invoices shared in a single document or PDF.
- Improved invoice search Experience: Offers flexible invoice listing for simplified search, sorting and personalized view.
- New dashboard reports: Provides visibility into spend segmentation based on vendor, status, and PO/Non-PO.
Read the full announcement here.
B2B Buy Now Pay Later Platform, Tranch, Raises $100 Million Seed Round
NEW YORK — Tranch, a buy now pay later (BNPL) platform for SaaS sellers and services providers, has raised $100 million in seed equity and debt funding to bring payment flexibility to a wider pool of B2B customers.
The funding round was led by Soma Capital and FoundersX. Additional institutional investors participated in the round, including several U.S. and UK fintech founders. The funding round includes a credit facility from Clear Haven Capital Management. Tranch’s existing investors include Global Founders Capital and Y Combinator.
The company states that businesses spend over $29 trillion on invoice payments in the U.S. every year. Moreover, most invoices are payable within 10 to 30 days, which puts significant pressure on both suppliers and customers’ working capital alike. In a challenging macro-economic environment where over 40% of B2B transactions are still settled by check and nearly 50% of B2B invoices are overdue, Tranch is bringing to the B2B market a level of flexibility and choice that significantly improves cash flow management for both suppliers and customers.
According to Philip Kelvin, Co-founder and CEO of Tranch, “Since securing our pre-seed funding and completing the Y Combinator program, the total value of invoices we’re handling every month has increased tenfold.
“…Against this challenging macroeconomic backdrop, buyers and suppliers have to ensure they can optimize their working capital cycle, and B2B BNPL is a commonsense way to achieve that. With our new investors and substantial credit facility in place, we’re in a great position to continue our growth in the U.S. market out of our New York office so that every SMB that needs it can ‘pay with Tranch’ flexibly and on their own terms,” he adds.
Read the full announcement here.
