Sonoco Taps Coupa to Advance Payments

Packaging solutions company Sonoco is partnering with business spend management (BSM) firm Coupa Software to extend Coupa Pay and virtual cards across Sonoco.

With Coupa and its virtual cards, Sonoco can streamline the purchasing process across its facilities while gaining spend transparency and risk reduction, according to a press release on Thursday (Sept. 16). Coupa Pay also offers Sonoco a single platform to process payments, invoices and expenses.

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“Coupa’s cutting-edge, fully unified solution provides our global company the speed and flexibility we need to pay suppliers while maintaining visibility into our transactions,” said Elizabeth Mozley, director, center of excellence and category management at Sonoco.

“We have already achieved more than 90% of our expected volume, a huge win in accomplishing a successful transition to Coupa Pay. We’ve also been able to maintain our card volume while eliminating extraneous charges from suppliers that were not approved, giving us better visibility into what we’re paying,” Mozley said.

The combination of Coupa’s BSM platform and its virtual cards has afforded Sonoco the ability to improve the management of its spend and card initiatives. The collaboration also gives Sonoco’s manufacturing plants improved oversight of pre-approved spending, along with streamlining payment processes.

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Mark Riggs, chief customer officer at Coupa, said that the company answered Sonoco’s call for a “best-in-breed solution” that would give it access to the latest innovation that was available in BSM.

He added that Coupa looks forward to serving as a “key business driver providing value across their entire organization.”

Coupa strives to help companies worldwide with the transparency and control necessary to “spend smarter and safer.”

Sonoco offers integrated packaging solutions intended to assist brands in defining their brand personalities, while also developing “unique customer experiences.”