Optimise working capital and reduce friction with HSBC Virtual Card and Coupa Pay

The integration of HSBC Virtual Card products into Coupa Pay's Platform is a game-changer for businesses seeking to streamline their accounts payable processes. By combining the benefits of virtual cards with Coupa's digital procurement and payables automation software, businesses can optimise their working capital, reduce friction, and improve efficiency in their accounts payable processes.

One of the key benefits of using HSBC with Coupa Pay is the ability to generate valuable insights on company-wide spending patterns. This data can help businesses make informed decisions and manage risk more effectively. For example, if a company notices that a particular department is overspending, they can take corrective action to bring their spending back in line with their budget. Similarly, if a company is spending too much money with a particular supplier, they can negotiate better terms or find an alternative supplier to reduce their costs.

Another benefit of using HSBC with Coupa Pay is the ability to optimise liquidity and working capital in a cost-effective way. By using virtual cards, businesses can make payments quickly and securely, without tying up their cash flow. This can be especially helpful for small businesses that may not have the cash reserves to pay for large purchases upfront. With virtual cards, they can spread their payments out over time, allowing them to manage their cash flow more effectively.

Virtual cards also play an important role in enhancing corporate responsibility and supply chain resilience. By using virtual cards to pay smaller suppliers, businesses can support these suppliers and help them to grow their businesses. This can be especially important for businesses that rely on smaller suppliers to provide critical goods and services. In addition, virtual cards can help businesses to source goods and services more safely, reducing the risk of fraud or other malicious activities.

The integration of HSBC Virtual Card products into Coupa Pay's ecosystem has already generated significant interest from customers looking to enhance their supply chain resilience and focus on growing their business. By using digital solutions to improve operational efficiency, businesses can reduce their costs, increase their productivity, and free up their resources to focus on other areas of their business.

Digital payments offer many ways to improve financial performance. Virtual card rebates, early payment discounts, and reduced transaction fees generate significant savings. Optimized payment timing also improves working capital.

• Digital payments also empower treasurers to make accurate, data-driven decisions. They uncover excess and deficit cash through increased visibility from source-to-settle as well as upcoming payments that are automatically incorporated into the cash position. Full transparency into supplier payment terms improves hedging decisions, too.
• Digital payment processes including supplier remit-to information management, batch creation, approvals, and reconciliation, allow teams to streamline the back office, prevent fraud, and simplify controls requirements.

HSBC and Coupa Pay provide a seamless solution that offers businesses an opportunity to optimise their working capital working capital, reduce friction, and improve efficiency moving their operations online, businesses that fail to adopt digital solutions risk falling behind their competitors. By using Coupa Pay with HSBC, businesses can stay ahead of the curve and position themselves for long-term success.

The integration of HSBC Virtual Card products into Coupa Pay's ecosystem is a significant development for businesses seeking to streamline their accounts payable processes.

By combining the benefits of virtual cards with Coupa's digital procurement and payables automation software, businesses can optimise their working capital, reduce friction, and improve efficiency.

Also, virtual cards can help businesses to enhance their supply chain resilience, support smaller suppliers, and reduce the risk of fraud or other malicious activities.

As more and more businesses move their operations online, using digital solutions like Coupa Pay with HSBC is becoming increasingly important for staying competitive in the marketplace.