Coupa Fulfilling Wish List for Cross-Border Payments
TECHNOLOGY & INNOVATION AWARDS
Fast, traceable, transparent and TMS-integrated cross-border payments on a worldwide basis are a wish-list item for many corporate treasury functions. Achieving speedier payment turnarounds, complete end-to-end tracking and full transparency along the entire payment chain globally is precisely what the Coupa/SWIFT gpi for Corporates solution delivers. For meeting the needs of many treasurers in such a convenient package, Coupa (formerly BELLIN) is the well-deserving winner of TMI’s 2020 Technology & Innovation Award for Solution Innovation.
Traditionally, cross-border payments can be hugely problematic for treasurers. It can take several days from a payment being released to its being credited. Additionally, treasurers rarely know where their payment is at any time, how much longer the process might take, and who might be charging them along the way.
This represents a significant business risk, leads to time-consuming queries, and is a barrier to efficient and successful cash management. This situation is made worse by security and compliance concerns as treasurers have no control over and insight into which banks are involved in the process.