Coupa partners with TransferMate to enhance Coupa Pay
Last year, Coupa announced a strategic partnership with TransferMate Global Payments to enhance their Coupa Pay offering and deliver on their vision of creating a comprehensive cloud platform for businesses to spend smarter, simpler, and safer at every transactional step of their Business Spend Management strategy.
“For far too long, businesses have been forced to deal with a complicated and labor-intensive payments experience, and we purpose-built Coupa Pay to address this challenge. Today’s announcement is another step forward in realizing our vision of one platform to manage all business spend, including payments. It’s now even easier for the BSM community to manage payments seamlessly with their other business spend processes so everyone is spending and paying smarter.”Rajiv Ramachandran, VP of Product Strategy at Coupa, announcing partnership with
Coupa regarded as leader in P2P industry
Coupa is ranked a ‘Leader’ in the Gartner Magic Quadrant and the Forrester Wave for being innovative and delivering a first in class product and customer experience. Through a strategic partnership with TransferMate, Coupa was able to enhance a vital component of the customer experience: payments. Coupa Pay, in partnership with TransferMate, offers Coupa customers a simpler way to process B2B and invoice payments with technology that delivers a seamless payments experience. Leveraging TransferMate’s globally regulated network of local bank accounts and payments technology, Coupa Pay delivers a faster, more cost-effective, secure and transparent way to move money across borders for their customers.
Coupa stock continues to climb
Coupa Pay has drawn attention from financial analysts, both for its impact on Coupa’s success this past year and as being key to Coupa’s growth
in fiscal 2021 and beyond. NASDAQ reports that Coupa stock has returned 137% year to date, substantially outperforming the industry’s rally of
19.6%, referencing Coupa Pay and Coupa’s partnership with TransferMate as a noteworthy product enhancement. Morgan Stanley analyst Stan Zlotsky states that “(The) Coupa Pay software subscription component gives us confidence in the company being able to at least maintain 30% annual growth through the $1 billion revenue target, combined with numerous
opportunities in federal and Asia-Pacific.”
Recent Financial Analyst Statements
Wells Fargo – Jan 2020
“Coupa Pay presents a potential key for unlocking additional monetization of the $1Tn+ in spend under management on this platform.”
Needham – Jan 2020
“CEO Rob Bernshteyn and CFO Todd Ford, the management highlighted strong customer interest in Coupa Pay and the ability for these deals to increase annual contract value, or ACV.
We are passionate about creating solutions that solve global payments challenges for our partners and their customers around the world. TransferMate has an unmatched portfolio of worldwide payment licenses including 50 U.S. states/territories to support operations in 180 countries in local currencies. Our team has unrivalled experience in banking and financial services technology to ensure we create solutions that make a difference to our customers lives, giving peace of mind, time and financial savings.