Coupa and TrustWeaver Form Strategic Partnership for Dynamic, Globally Compliant e-Invoicing
Compliance simplified across entire Coupa Business Network
SAN MATEO, CA and STOCKHOLM – January 14, 2015 – Coupa, the leading provider of cloud applications for finance, announced today it has partnered with TrustWeaver, a Sweden-based provider of global VAT compliance services, to provide dynamic, real-time VAT and related compliance services to customers using Coupa’s cloud-based electronic invoicing solution.
Coupa has integrated TrustWeaver technology to strengthen its electronic invoicing solution for buyers and suppliers in over 50 countries to assure the highest standards of compliance for e-invoices across the Coupa business network. Customers can now rely on Coupa to comply instantly with essential global and local VAT regulations that are constantly changing.
Coupa’s products are truly cloud-based – built from the ground up to deploy and function dynamically – making it an ideal platform for real-time use of TrustWeaver’s technology.
“Coupa’s growth continues to accelerate, with customers currently transacting with over one million suppliers in over 100 countries,” said Raja Hammoud, vice president of product management at Coupa. “Our latest e-Invoicing innovations are very competitive in the market thanks to our ability to adapt dynamically, in real time. Coupa’s unique implementation of TrustWeaver delivers all the benefits of electronic invoicing in jurisdictions across the globe - without the need for our customers to monitor changing law and regulations.”
"We're very pleased to welcome Coupa to our fast-growing ecosystem of partners who use our VAT compliance functionality for their varying B2B service portfolios,” said Christiaan van der Valk, president of TrustWeaver. “We have been impressed with Coupa's vision and are confident that we will together make a significant contribution to eradicating inefficient paper-based invoicing processes around the world."
Coupa has extended TrustWeaver’s compliance services across the entire Coupa business network to assure all electronic invoices meet varying national requirements for integrity and authenticity, and to archive the documents in accordance with local regulations. The partnership also enables Coupa to meet requirements for electronic invoices to be 'cleared,' or pre-registered, by or on behalf of local tax administrations, which is increasingly mandated in countries such as Brazil, Turkey, Russia and Korea.
With the addition of TrustWeaver’s services across the Coupa business network, suppliers have more globally compliant e-invoicing options, without supplier fees. This allows Coupa customers reap the significant financial benefits of transacting electronically with 100 percent of their suppliers instead of only small sets of preferred suppliers.