New Coupa Treasury Innovations Help Businesses Reduce Financial Risks
With automated, real-time visibility into upcoming payments, treasurers improve cash forecasting to ensure business continuity
SAN MATEO, Calif., May 25, 2023 /PRNewswire/ -- Volatile macroeconomic environments have exposed vulnerabilities in the banking industry, requiring businesses to have greater visibility into liquidity and mitigate risks more quickly. New innovations announced today from Coupa Software, the leader in Business Spend Management (BSM), allow treasurers to gain full visibility, efficiently manage cash, and proactively monitor liquidity risks at scale.
"CFOs and finance teams must be better prepared to respond deftly to macroeconomic challenges and liquidity risks," said Raja Hammoud, Coupa executive vice president of products. "Coupa's innovations have always centered around our customers' success. By bringing more AI and automation into Coupa's BSM platform and connecting cash management processes, we're continuing to deliver on our mission of providing treasurers with the best technology to be successful."
Coupa is the only platform that unifies treasury, accounts payable, and procurement functions. It provides the most comprehensive visibility into cash flow, resulting in the most accurate cash projection.
The new innovations for Coupa Treasury improve connections between teams, providing real-time visibility into approved invoices and purchase orders (POs) through automation. With a unified system, finance, treasury, AP, and procurement teams are more informed, can execute effectively, and ake timely decisions to redirect payments.
As soon as a PO is created and an invoice is approved, they appear in the cash projection worksheet. This saves treasurers time, and reduces errors, risk, and resourcing requirements when having to manually track and forecast for every outgoing payment. These innovations help businesses leverage more accurate data, make more informed decisions, and move quicker.
"We are using Coupa Treasury to modernize cash management processes. The platform provides unmatched transparency into company spend. We're able to act swiftly with greater accuracy to optimize working capital, which is our top priority in today's unpredictable economic environment," said John Reilly, Amatus Health vice president of finance. "We're looking forward to the new automation between treasury, PO, and invoice functions, as we know it will help drive further efficiencies and operational excellence."
"A company's cost of capital can be materially impacted when cash management and treasury teams are operating without real-time spend data. It can force treasurers to scramble to liquify assets or borrow at much higher costs," said Tamir Shafer, Coupa Treasury global vice president. "Coupa's latest innovations provide treasurers with immediate - and automated - insights into company spend, enabling them to better manage yield, and forecast cash flows and requirements."
On June 19-21, 2023, Coupa will bring the Treasury community together at Inspire EMEA in London for the Treasury Summit. Building on the legacy of BELLIN's 1TC conference, the Coupa Treasury Summit will bring together industry professionals to collaborate and innovate with peers and thought leaders. Attendees will walk away with actionable insights to help their organization accelerate performance and unlock purpose. Learn more: https://emea.coupainspire.com/treasury-summit.
About Coupa Software
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SOURCE Coupa Software