The global collaboration creates a streamlined process for domestic and cross border payments.
LAS VEGAS, April 13, 2023 /PRNewswire/ — Coupa, a global leader in Business Spend Management (BSM), and Goldman Sachs Transaction Banking (TxB), a modern, digital-first, cloud-based bank provider, today announced a joint initiative to simplify payment processes between businesses and their global supply chains.
Making payments between businesses is fraught with operational challenges that are costly, onerous, and inefficient. Through this collaboration, Goldman Sachs TxB and Coupa enable customers to easily make payments, including domestic, cross-border, and foreign exchange (FX) payments to 124 currencies, across 167 countries.
The business payments solution from Goldman Sachs TxB and Coupa offers:
- Fast Integration: API-led integration leading to a real-time and rich transparency of data exchange
- Quick & Convenient Payments: with the ability to make payments within the Coupa experience allowing for streamlined processes
- Enhanced Cross-Border Payments: offering SWIFT GPI to track payments from end to end and increase efficiencies throughout the payment process
“We are collaborating with Coupa to further innovate in the world of payments through smarter and seamless solutions that provide a consumer-like user experience to our customers,” said Brinda Bhattacharjee, Head of Product, Transaction Banking at Goldman Sachs. “This collaboration allows us to unlock additional value for global businesses looking to modernize their payments processes and increase visibility for both buyers and suppliers.”
“Optimizing cost while reducing risk is core to delivering maximum value to Coupa customers. Our collaboration exemplifies Coupa’s focus on innovation and driving success for our customers,” said Raja Hammoud, Executive Vice President of Products at Coupa. “Enhancing the Coupa platform with Goldman Sachs TxB capabilities will further streamline and centralize payments for customers and their suppliers around the globe. We are excited to transform the world of business payments from complex and slow to simple and fast.”
To learn more about the Coupa Business Spend Management platform, visit https://www.coupa.com/.
To learn more about Goldman Sachs Transaction Banking, visit www.gs.com/txb
About Coupa
Coupa is the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions. Coupa empowers organizations around the world to maximize value and operationalize purpose through their business spend. To learn more, visit coupa.com or follow us on LinkedIn and Twitter.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
About Goldman Sachs Transaction Banking
Goldman Sachs Transaction Banking, through Goldman Sachs Bank USA and its affiliates, is a modern, digital-first, and cloud-based business helping clients build the future of their treasury. The business combines the strength, heritage, and expertise of a 150-year-old firm with the agility and entrepreneurial spirit of a tech start-up.
All banking products are offered exclusively by Goldman Sachs Bank USA (the “Bank”), a New York state-chartered bank and a wholly-owned subsidiary of The Goldman Sachs Group, Inc. The Bank is a member of the Federal Reserve System and Member FDIC.
