Coupa Pay customers can now pay suppliers via Premium ACH on Bottomline’s Paymode-X Business Payments Network
LAS VEGAS, NV and Portsmouth, NH—Coupa, the margin multiplier company, and Bottomline, a global leader in business payments, announced a strategic partnership to simplify digital payment processes for businesses. Coupa can now connect to Paymode-X, Bottomline’s business payments network that offers Premium ACH, to automate payments from buyers to suppliers.
Coupa Pay offers a single platform for managing all business payments across different countries and currencies. By utilizing the Premium ACH offering, customers will further optimize their payment stack, enhance payment security, receive more payment rebates, and improve their overall source-to-pay experience. Premium ACH is a powerful extension of the Coupa platform and requires no data or technology integration, or additional storage.
Leveraging the Paymode-X network’s leading fraud prevention capabilities, Coupa Pay will be able to offer enhanced security for payments made to suppliers who prefer to accept Premium ACH as a payment method.
With Premium ACH, suppliers receive enhanced data and reconciliation information, as well as rich reporting, and can lower their cost of payment acceptance. Providing this important data and reconciliation, Premium ACH helps strengthen relationships between payers and their suppliers.
“We are delighted to partner with a leader in source-to-pay (S2P) to modernize and fully digitize payment processes between buyers and suppliers. By integrating Paymode-X with Coupa Pay, payments are simplified for buyers and suppliers,” said Jeff Feuerstein, SVP Commercial & Payment Product Management, Paymode-X at Bottomline. “Coupa customers can unlock more value by paying suppliers using Premium ACH, which continues to drive increased value for members of the Paymode-X network.”
“Businesses today are all striving to deliver greater results with more efficiency. This partnership with Coupa and Bottomline optimizes payment processes and drives business results at scale. By automating the entire payment lifecycle through Bottomline’s secure payments network, businesses also benefit from stronger supplier relationships by improving payment timeliness and providing better data visibility,” said Bill Wardwell, General Manager of Coupa Pay and Treasury.
The partnership is the first launched through Bottomline’s network-as-a-service solution, announced last October. The new offering opens the Paymode-X network’s 550,000+ authenticated suppliers and the network’s proprietary Premium ACH payment type to Coupa Pay customers. Coupa Pay with Paymode-X will be generally available in May.
About Bottomline
Bottomline helps businesses transform the way they pay and get paid. A global leader in business payments and cash management, Bottomline’s secure, comprehensive solutions modernize payments for businesses and financial institutions globally. With over 30 years of experience, moving more than $10 trillion in payments annually, Bottomline is committed to driving impactful results for customers by reimagining business payments and delivering solutions that add to the bottom line. Bottomline is a portfolio company of Thoma Bravo, one of the largest software private equity firms in the world, with more than $130 billion in assets under management. For more information, visit www.bottomline.com. Bottomline and the Bottomline logo are trademarks or registered trademarks of Bottomline Technologies, Inc.
About Coupa
Coupa® makes margins multiply through its community-generated AI and industry leading total spend management platform for businesses large and small. Coupa AI is informed by trillions of dollars of direct and indirect spend data across a global network of 10M+ buyers and suppliers. We empower you with the ability to predict, prescribe, and automate smarter, more profitable business decisions to improve operating margins. Coupa is the margin multiplier company™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter).
Read the release on the Coupa website here and on the Bottomline website here.