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E-invoicing, SCF & E-procurement

Westpac partners with Coupa to boost e-procurement

Tuesday 20 August 2019 | 01:37 PM CET

Australia-based bank Westpac has announced partnering with US-based spend management platform Coupa to streamline its clients spending and procurement processes.

The partnership enables customers to reduce risk, improve compliance, automate manual and inefficient tasks, and ultimately, deliver cost savings to the business.

Westpac will be transforming payables and purchasing through cloud-based procurement solutions for its customers. Coupa’s Business Spend Management platform has been deployed by over 750 organisations, including MGM Resorts International, Salesforce, and Unilever.

In addition, with more than USD 1.2 trillion of cumulative spend under management, Coupa is leveraging the wisdom of the BSM community along with artificial intelligence (AI) and machine learning to deliver real-time prescriptive insights and benchmarks to customers. As a result, smarter spend decisions can be made, including the potential to enhance the use of working capital through increased Days Payable Outstanding, real-time payments, and eInvoicing when the Australian and New Zealand Government’s electronic invoicing standards1 are adopted.

Westpac’s moves also anticipate the Government’s increased focus on digitising procurement and adoption of the Australian Supplier Payment Code helping corporates remain at the forefront of compliance and regulatory change.

More: Link
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