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Billtrust Announces Coupa as a Referral Partner and Business Payments Network (BPN) Provider
Rhea-AI Impact
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Rhea-AI Summary
Billtrust (BTRS) announces a partnership with Coupa Software (COUP) to streamline B2B payments via the Business Payments Network (BPN). This collaboration allows Coupa customers to automate electronic payments to Billtrust's network, enhancing the payment process. In 2021, Billtrust delivered over $1 billion in supplier invoices, marking a 58% increase from the previous year. CEO Flint Lane expressed enthusiasm for the partnership, emphasizing digital transformation in payment strategies. This partnership aims to maximize electronic spend and improve efficiency in financial operations.
Positive
Partnership with Coupa Software enhances Billtrust's Business Payments Network.
Billtrust surpassed $1 billion in supplier invoices delivered in 2021, a 58% increase from 2020.
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Business Spend Management Software Provider Chooses BPN for Streamlined B2B Payments
LAWRENCEVILLE, N.J.--(BUSINESS WIRE)--
Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, announced today that Coupa Software (NASDAQ: COUP), a leader in business spend management, has joined Billtrust’s Business Payments Network (BPN) as a provider and the Billtrust Partner Program where Coupa can refer businesses to Billtrust’s complete order-to-cash solution. With BPN, Coupa will enable customers to accelerate and automate electronic payments to Billtrust’s network of suppliers, distributors and vendors while scaling virtual credit card adoption.
“We’re proud to partner with Billtrust, a leader in helping companies transition from cumbersome paper invoicing and check acceptance, to efficient electronic billing and payments,” said Roger Goulart, executive vice president of Business Development and Alliances at Coupa. “BPN gives Coupa customers access to thousands of additional suppliers, enabling them to streamline both supplier and buyer payments. We’re proud to be able to maximize our clients’ growth potential by helping them drive more electronic spend including virtual credit cards.”
Coupa joins BPN following Billtrustsurpassing $1 billion in supplier invoices delivered to accounts payable (AP) portals in 2021, its largest single-year total and a 58% increase over 2020. The dramatic rise can be attributed to increased BPN adoption, which began enabling invoice presentment to AP portals in addition to its existing payment and remittance acceptance capabilities.
“With digitization being a critical component of a forward-looking payments strategy, we are excited to welcome Coupa as both a BPN provider and referral partner,” said Flint Lane, CEO, Billtrust. “Not only does Billtrust gain a powerful partner and a leading business spend management provider, but Coupa is now able to offer their customers a distinct advantage in the marketplace by maximizing supplier electronic payments through BPN.”
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 about Coupa, visit www.coupa.com or follow us on LinkedIn or Twitter.
Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the benefits and synergies that may be realized by Billtrust (“the Company”) and Coupa Software as a result of the partnership. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward looking statements are subject to a number of risks and uncertainties, including those factors discussed in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including Billtrust’s and Coupa Software’s ability to realize the anticipated benefits and synergies of the partnership. There may be additional risks the Company presently does not know or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
