Beyond ‘Not OK-2-Pay’: A Coupa Pay Update from Inspire 2019 [PRO]

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Accounts payable is a function often viewed as laborious and time-consuming. Even when enabled by back-office technology systems like ERPs, the general perception of AP is that it consists primarily of transactional, overly complicated activities that generate little additional value for the business.

But this negative perception ignores much of AP’s full potential, which is why multiple solution providers of late have begun to pursue “business spend management” opportunities in the B2B payments space. These new offerings aim to improve the overall efficiency and value potential of AP, particularly by helping organizations move beyond the simple act of marking invoices as “OK-2-pay.” Because as many AP professionals will tell you, an OK-2-pay marker is only the beginning of a series of headaches to sort out — and where the benefits offered by B2B payment solutions begin to reveal themselves.

In this Spend Matters PRO brief, we discuss how some of the capabilities highlighted in the Coupa Pay offering at a recent Coupa Inspire 2019 conference seek to address the common issues of OK-2-pay — or, as they put it in a humorous video during the conference, “Not OK-2-pay” — as well as what Coupa’s recent partnership announcements mean for the product.

In Case You Missed It … Procurement and Supply Market Roundup

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We can't comment on every press release that hits our desks, but here are a few market news stories this week that we thought we should bring to your attention, and some of our own you may have missed - we'll have more from our analysts in the coming days  ... McDonald’s, Nestlé and Virgin Media Trial Blockchain McDonald's, Virgin Media and Nestlé have signed up to a blockchain (distributed ledger technology) pilot to help boost the efficiency and transparency of the digital ad buying supply chain. Cross-industry trade body, Joint Industry Committee for Web Standards, launched the pilot earlier this year and called for businesses to take part, aiming to increase trust and transparency in digital advertising. The trade body said it will use the first round of tests to measure the impact of blockchain solutions that provide "end-to-end supply chain transparency and clarity around advertising spend." The Drum has the [...]