Coupa Software Teams Up With Nvoicepay To Make B2B Payments 100% Electronic

Until recently, the majority of business-to-business ("B2B") transactions conducted were still paper-based. A new partnership aims to change this dynamic and make B2B transactions 100-percent electronic.

Cloud-based spend management provider Coupa Software Inc COUP has announced the launch of Coupa Payments, a partnership with Portland-based Nvoicepay, in an effort to digitize supplier payments and automate payment processes in B2B transactions.

As explained in the press release:

"The solution leverages a CoupaLink app from Nvoicepay to paying all supplier invoices, domestically and internationally, through the same unified process flow. creates a paperless world where almost every supplier regardless of size or location is securely paid electronically. Customers benefit through reduced Accounts Payable costs, increased visibility, and stronger supplier relationships."

“51 percent of the B2B payments are still made by paper check. Using our solution, we can get to 100 percent automatic payments, which is unusual in the B2B space,” said NvoicePay CEO Karla Friede in an exclusive interview following the announcement.

“It is exciting for us to partner with Coupa to provide the first seamless procure-to-pay system that pays 100 percent of suppliers electronically, whether they are domestic or international,” said Friede.

The B2B payment space's annual volume comes in at $36 trillion, with most of the payments going through the bank. The solution will enable businesses to make all of their payments electronically to suppliers in 170 countries and in 140 currencies.

“Coupa Payments is end to end, it is integrated and it is 100 percent electronic. It will save a lot of time and a lot of money for a lot of companies,” concluded Friede.

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