Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, procure-to-pay (P2P), and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable (AP), B2B payments, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Coupa Purchases P2P Solutions Provider, Aquiire
Earlier this week, Coupa Software (NASDAQ: COUP), a San Francisco-based spend management solutions provider, informed us that it has purchased Cincinnati-based Aquiire, the real-time procure-to-pay (P2P) and supplier management solution provider formerly known as Vinimaya for an undisclosed sum. Ardent Partners analysts took a briefing with the Coupa team (click here to read) which provides a more thorough overview and in-depth analysis of the deal. At a high level, purchasing Aquiire will boost Coupa’s ability to provide business users with real-time, cached, or localized catalog search in a B2B buying environment that more closely resembles Amazon or Google. It will round out Coupa’s eProcurement and payment remittance capabilities and enhance the user experience in doing so. Stay tuned for further details and analysis, here.
TransferMate Partners with AccountsIQ
TransferMate, a global B2B payments technology provider with headquarters in Ireland, has recently partnered with AccountsIQ, a cloud-based accounting software provider, to offer customers a new way to access preferential FX rates for payments with an automated solution within the AccountsIQ finance system. AccountsIQ which is based in London, offers tools to help customers manage budget, audit, tax returns and cash flow, and is suitable for small and midsize businesses. TransferMate’s integration with the AccountsIQ software, will streamline making an FX payment, within the AccountsIQ platform. This provides a preferential exchange rate and lower fees than a traditional bank, and should speed up the process for accounts teams.
TriumphPay and MercuryGate Announce New Strategic Partnership
TriumphPay, a leading provider of carrier and vendor payment solutions to the supply chain industry, and MercuryGate, a global provider of cloud-based transportation management solutions, based out of North Carolina, announced a new strategic partnership and integration of TriumphPay’s carrier payment processing platform with MercuryGate’s Transportation Management System (TMS). TriumphPay is a product of Triumph Business Capital, a Texas-based invoice factoring company. This integration will allow shippers and brokers to outsource the processing of carrier payments and management of factoring companies to TriumphPay, directly from their existing MercuryGate TMS account. The integration should bring more efficiencies to MercuryGate customers, while also providing greater transparency, control, and choice over payments. Users will be able to schedule and automate payments from within the TMS. Brokers and shippers can also use TriumphPay for supply chain finance.
B2B Payments Provider PayStand Announces Expansion
PayStand, a B2B payments platform provider based out of California, recently announced the opening of a new office located in Guadalajara, Mexico. This expansion will help bolster PayStand’s continued focus on delivering a more robust digital payments network for businesses. Paystand streamlines B2B payments through automation using Blockchain and secure, cloud-based technology. The move will also better position PayStand to help solve global payment challenges. As businesses have become increasingly more global in both customers and supply chain, both domestic and cross-border payments remain inefficient and expensive. PayStand is building out a technical team in Guadalajara and has partnered with StartupGDL, a local, established technology and community organization that helps companies tap into Guadalajara’s engineering talent pool.
