Connect with us

News

COUPA ANNOUNCES NEW PRODUCT INNOVATIONS FOR THE BUSINESS SPEND MANAGEMENT COMMUNITY TO SPEND SMARTER TOGETHER

Company continues to set the innovation agenda by harnessing the power of the community, enhancing the user experience, and extending its open platform vision

 

At its annual Inspire’19 conference in London, Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), announced new product innovations that extend the capabilities of its cloud-based platform for businesses to manage all their spend in one place. Amid global economic uncertainty, Coupa’s latest innovations empower businesses with the visibility, control, and agility to spend smarter together.

 

“Now more than ever, businesses need a comprehensive platform to effectively manage all of their business spend so they can respond swiftly and smartly to any competitive or economic pressure,” said Raja Hammoud, executive vice president of products at Coupa. “The innovations that we announced today – conceived with and by the BSM community – are designed to help businesses learn, share, and collaborate, and get the spend control they need to thrive at all times.”

 

Harnessing ‘Community’ for Smarter Spending 

Since its beginning, Coupa uniquely recognized the power of ‘community’ to help companies uncover new ways to strategically manage their spend. Purpose-built, the Coupa BSM Platform brings together a global community of businesses to collaborate with one another, and to leverage prescriptive insights from more than $1.3 trillion in cumulative business spend.

 

  • Source Together, Coupa’s newest offering, delivers community-powered savings by connecting businesses with similar buying needs so they can source products and services as a group. Source Together, offered through the Coupa BSM Platform, brings companies together to leverage their collective buying power and help deliver greater savings from suppliers for commodities or services across geographies.

 

  • The latest innovation from Coupa Supplier Insights draws upon Coupa’s aggregated and anonymous spend data from a global community of businesses to automatically tag suppliers that meet diversity requirements, such as those that are women-, minority-, or veteran-owned within their Coupa experience. Supplier Insights helps relieve sourcing teams of the arduous task of manually identifying diverse suppliers to more quickly align to their broader corporate social responsibility goals.

 

Enhancing the User Experience in a Comprehensive Platform

The foundation of spending smarter is a comprehensive, user-centric platform that makes it easier for everyone in an organization to manage all aspects of business spend, from source to settle. This means delivering a unified, consumerlike experience across all areas of spend that enables employees to rapidly adopt and obtain value from new capabilities offered on the Coupa BSM Platform, such as advanced contract lifecycle management and payments, without the feeling of learning a new application.

 

  • Within six months of Coupa’s acquisition of contract lifecycle management solution Exari, the company has rapidly unified the technology – now called Coupa Contract Lifecycle Management Advanced – with its BSM platform. With CLM Advanced, businesses have a streamlined yet powerful way to manage the contract lifecycle and operationalize contracts against spend transactions at scale, to turn negotiations into real savings.

 

  • Coupa Pay for Expense Payments is the newest solution from the company’s payments offering. With Coupa Pay for Expense Payments, companies can reimburse employee expenses directly from within the Coupa BSM Platform. Focused on simplifying the fragmented payments space for businesses, Expense Payments creates a one-stop shop for businesses to manage the end-to-end expense process, reducing the complexity of managing multiple and manual systems while making the interface simpler for employees. Expense Payments is currently available in an early access program.

 

Extending its Open Platform Vision

With the breadth of processes and systems involved, ranging from multiple ERPs to risk data, and more, effectively managing spend requires an open platform that can quickly and easily connect to and unify these disparate systems into a streamlined spend management process. Coupa’s open platform makes it simpler, faster, and more agile to connect to an ecosystem of market-leading technology partners to give businesses a single, unified destination to comprehensively manage spend.

 

  • Following the launch of the Coupa App Directory in June, Coupa now allows companies to access third-party applications and data within the context of their BSM processes to empower businesses to make more informed spend decisions. The company’s newest alliances include Amadeus, which provides businesses and its travelers with an end-to-end travel booking experience via its flagship online booking tool, cytric Travel. With cytric Travel data embedded within the Coupa BSM Platform, travelers now have a single place to view and manage all of their business travel – from travel pre-approvals and bookings to expense reimbursements. In addition, EcoVadis provides supplier sustainability ratings, Mastercard Track provides supplier risk data, and BitSight provides supplier cybersecurity ratings.

 

“We are pleased to partner with Coupa to provide companies a simpler way to manage their corporate travel and expenses,” said Vasken Tokatlian, head of partnerships and alliances, corporations, travel channels at Amadeus. “Our joint customers now have a streamlined, consumerlike experience to manage travel and expenses all in one platform, enabling them to maximize the value of every dollar spent. Amadeus is committed to power smarter business travel for corporations and travelers around the world and this partnership with Coupa is a testament to our vision.”

 

To learn more about these new capabilities, please visit https://www.coupa.com/.

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

UK OPEN BANKING FINTECH YAPILY ANNOUNCES EXPANSION IN VILNIUS

Yapily, a London-based fintech startup, has announced plans to set up in Vilnius, the company’s third European office. Yapily joins a growing number of UK fintechs including Revolut, Curve and Square that chose Lithuania as the location for its European hub.

 

Yapily was established in 2017, shortly after the EU’s second Payment Services Directive (PSD2) granted third-party access to customer data of financial institutions. The legislation, which aims to stimulate competition in the financial services market, compelled providers of such services to innovate their API and open banking practices. Stefano Vaccino, Founder and CEO of Yapily, used his extensive experience in fintech and commercial banking to create Yapily, a platform that enables companies to take advantage of open banking.

 

Yapily connects businesses to banks and financial institutions using a single open API. Using the platform, companies can access their customers’ account information and gain a holistic financial view without having to build and maintain hundreds of APIs of their own. Powered by a secure and regulated service, Yapily manages and facilitates the connection to fetch information and initiate payments while ensuring PSD2 compliance.

 

“Yapily makes connecting to banks easy through sharing financial data and payments infrastructure,” explains Stefano Vaccino. “We connect you to thousands of banks using an open banking API, taking care of the complexity behind the scenes”.

 

Yapily’s vision of open banking has attracted significant investment. Since its inception, the company has raised $18.4 million in VC funding. Yapily’s investors include Holtzbrinck Ventures, LocalGlobe and Lakestar, an early investor in Skype, Spotify, Airbnb and Facebook as well as some of Europe’s biggest fintechs – Klarna and Revolut.

 

Yapily now allows companies to connect to more than 600 banks, providing 80% account coverage across 15 European countries. The company boasts customers ranging from innovative fintechs to Fortune 500 companies including American Express, IBM, Intuit Quickbooks, GoCardless and BUX. In the last 12 months, Yapily has tripled its headcount and currently employs 72 people in offices in the UK and Germany.

 

According to Stefano Vaccino, Yapily’s current focus is to penetrate the European market. “This involves building a scalable platform while accelerating testing capabilities for our European users”,” he says.

 

Looking for a new European hub following the Brexit decision, Yapily considered several European locations, including Portugal and Germany. For the company, it was important to find a supportive regulator and fintech ecosystem. The expertise of Lithuanian developers; reputation of the country’s regulator; and a flourishing fintech scene all contributed to Yapily’s decision on Vilnius. It’s Lithuanian entity received regulatory license in December 2020, prior to the UK leaving the EU, and is now focused on its exciting expansion plans.

 

“Outside of the UK, Lithuania has the second largest fintech hub in Europe,” says Stefano Vaccino. “The local regulator plays a positive role in the fintech ecosystem, allowing Yapily to become a part of it.”

 

The company will hire up to 30 people in Vilnius in the coming months. Yapily is currently recruiting for compliance, engineering, product and operations roles.

 

“Open Banking will create a more competitive landscape of tailored financial services,” Mantas Katinas, Managing Director of Invest Lithuania, believes. “As more and more banks comply with the PSD2, Lithuania’s fintech community could be at the forefront of developing financial products leveraging this new access to data. Yapily’s choice to set up an office in Vilnius shows that Lithuania is an excellent base for cutting-edge fintechs.”

 

Continue Reading

News

FINTECH EEDENBULL SECURES PAYMENT TECHNOLOGY DEAL WITH NATIONAL AUSTRALIA BANK

EedenBull has announced a five year agreement with National Australia Bank (NAB), which allows the bank to deploy EedenBull’s innovative payment and spend management platform to the bank’s customer base of small and medium sized enterprises (SMEs).

The EedenBull platform provides the ability for the bank’s SMEs to track payments and spending simply, efficiently and in real time. By using the latest technology, the bank’s SME customers will prevent cash leakage by ensuring that the right business spending policies are adhered to.

EedenBull will be providing NAB its innovative Q Business platform, which includes Q Control for the administrator and Q App for the employee. NAB will issue their own payment cards onto the platform, with their customers using Q Business to manage cards and spend.

Nicki Bisgaard, CEO and founder of EedenBull, commented: “This announcement underlines our progress in offering best in class payment and spend management technology to the banking  community globally.  We are delighted to partner with NAB, a globally respected banking brand and Australia’s leading business bank, and to provide them innovative, digital spend solutions for their SME clients in Australia.  Q Business is taking commercial payments to the next level, and we look forward to being a partner on this journey in delivering value, control and flexibility to NAB and their many business customers.”

EedenBull is already partnering with 65 banks in Europe, and is now further expanding its global reach with banks such as National Australia Bank

Tania Motton, NAB Executive for Everyday Business Banking said: ‘’Expense management software solutions are so often out of reach for small and medium sized businesses. This exciting partnership will give our customers an intuitive expense management platform with full control and analysis of payments across their business as well as more confidence to allow their teams to spend money.

She continued: “For us, the most important thing about partnering with EedenBull to offer their technology is that it will help more Australian businesses to focus on the business of serving customers rather than time consuming administration.”

The partnership with NAB signals a step change in the global ambition of EedenBull, which is headquartered in Oslo, has its design and innovation team in Singapore, business development team in London and their operations centre in Edinburgh.

Bisgaard continued: “We are growing fast, innovating constantly, improving our products and services all the time and seeking further partnerships with existing and new banks globally, as we expand our worldwide footprint.  New technology, new regulation and new players are forever changing the way consumers and businesses think about payments – changing the way people pay, and get paid, and EedenBull is here to guide banks through this market, legislative and technology complexity.”

 

EedenBull Partnerships with Global Banking Community

EedenBull was launched in 2018 by a group of senior banking professionals and experts in digital payments. Enablement of third-party access to data from banks leading to the rise of open banking, has empowered tech-driven non-banking companies, such as EedenBull, to build new and innovative payments services.

EedenBull is a fintech innovation company specialising in B2B and Commercial Payment solution design and implementation. The company works with banks, schemes and payment partners on a global basis to enhance and drive innovative business solutions and products to better serve Corporate and Business clients. Unlike other fintech companies, EedenBull is not setting out to compete with the banks, but work with them to provide the innovation and tools they require to offer long-term competitive advantage and to enhance customer satisfaction.  EedenBull provides its partner banks first mover advantage to improve their reputations and competitive edge. Banks also get access to specialist B2B payments expertise and the opportunity to shape future innovation developments and technology features.

 

Continue Reading

Magazine

Trending

Finance3 mins ago

HOW WILL WE PAY IN 2021?

Nick Corrigan, UK & Ireland Managing Director, President of Global Payments.   As 2020 began, there was already much conversation...

Top 1013 mins ago

WHY BETTER PLANNING COULD BE THE INSURANCE INSURERS NEED

Adam Bimson, Chief Customer Officer, Vuealta   Insurance is predicated on the ability to plan effectively, to model accurately, and...

Business49 mins ago

WHY IT IS MORE IMPORTANT THAN EVER TO SHOP SOCIAL

Dave Linton is an innovator, social entrepreneur, thought leader, mentor of social enterprises, motivational speaker and the founder and Managing...

Finance1 day ago

HOW COVID-19 HAS RESHAPED THE PAYMENTS LANDSCAPE

By Mohamed Chaudry, Group Chief Financial Officer of FoodHub   The year 2020 may well have sounded the death knell...

Business1 day ago

CREATING A PEOPLE-CENTRIC WORKPLACE CENTERED ON FLEXIBILITY, EXPERIENCE AND WELLBEING

By Anne Marie Ginn, Head of Video Collaboration, Logitech EMEA   The light is appearing at the end of the...

News1 day ago

UK OPEN BANKING FINTECH YAPILY ANNOUNCES EXPANSION IN VILNIUS

Yapily, a London-based fintech startup, has announced plans to set up in Vilnius, the company’s third European office. Yapily joins...

News1 day ago

FINTECH EEDENBULL SECURES PAYMENT TECHNOLOGY DEAL WITH NATIONAL AUSTRALIA BANK

EedenBull has announced a five year agreement with National Australia Bank (NAB), which allows the bank to deploy EedenBull’s innovative...

Finance1 day ago

2021 FINTECH PREDICTIONS

2020 has been a year like no other. The way we live, work, socialise and more has completely changed as...

News1 day ago

MARQETA ANNOUNCES PARTNERSHIP WITH GOLDMAN SACHS ON MARCUS CHECKING OFFERING

Marqeta’s modern card issuing platform will be leveraged by Marcus by Goldman Sachs to build new digital banking offerings.    Marqeta,...

Finance3 days ago

MAKE 2021 THE YEAR YOU DRAW UP A PERSONAL BUDGET

By Neli Mbara, Certified Financial Planner at Alexander Forbes   Budgeting is the most important thing you can do to manage...

News3 days ago

FINTECH EEDENBULL SECURES PAYMENT TECHNOLOGY DEAL WITH NATIONAL AUSTRALIA BANK

EedenBull has announced a five year agreement with National Australia Bank (NAB), which allows the bank to deploy EedenBull’s innovative payment...

Finance3 days ago

GEOSPATIAL DATA VISUALISATION MAKES SENSE OF MASS OF COMMERCIAL PROPERTY INSURANCE DATA

Heikki Vesanto, Manager GIS Data Science, LexisNexis Risk Solutions UK & I   Like most areas of the general insurance...

Top 103 days ago

A GUIDE TO HMO PROPERTY INVESTMENT

Many experienced property investors are turning their attention to HMOs and achieving much higher rental yields as a result. Find...

Finance3 days ago

PROTECTING THE DIGITALLY-EXCLUDED: BIOMETRIC IDENTIFICATION ENSURES ACCESS TO PAYMENTS IN A CASHLESS WORLD

By Vince Graziani, CEO, IDEX Biometrics ASA   The events of this year have exacerbated a number of challenges for...

Interviews3 days ago

‘GLOBAL TRADE IN 2008 VS 2021: GLOBAL IMPACT, DIFFERENT CHALLENGES’

A Q&A with Nawaz Ali Head of Insights at Western Union Business Solutions who draws comparisons between the financial crisis...

Finance3 days ago

FOUR WAYS OF FINDING THE SUPPORT AND RESISTANCE LEVELS

Support and resistance levels are mainly conventional values where a large number of orders assemble to stop a prevailing trend...

Finance4 days ago

TAX-FREE SAVINGS ACCOUNTS OR RETIREMENT ANNUITIES: KNOW THE SAVINGS PRODUCTS AVAILABLE TO YOU

By Michael Kirkpatrick, head of individual consulting best practice, Alexander Forbes   The start of a year is a great time...

News4 days ago

FROM PLASTIC WASTE TO PAYMENT CARD

Giesecke+Devrient invites to join the cause of saving the oceans.   Giesecke+Devrient (G+D) and the environmental organization Parley for the...

Top 105 days ago

AML SYSTEMS FOR THE CRYPTO MARKET – HERE’S WHAT YOU MUST KNOW

In the modern world, criminal activities have taken the virtual road and fraudsters have developed highly sophisticated ways of executing...

Finance2 weeks ago

DISRUPTING DATA ASSUMPTIONS: WHAT FINANCE MARKETERS NEED TO CONSIDER IN 2021

Carolyn Corda, CMO at ADARA   Data-fuelled marketing has been a go-to in finance for years before it was accepted...

Trending