Tech Intelligence Bulletin (HG Insights) – Discover, a leading direct bank and payments company, and JAGGAER have unveiled a new procure-to-pay solution leveraging spend management capabilities from the JAGGAER One platform and the trusted global infrastructure and settlement capabilities from the Discover Global Network.
The Discover Global Network will support payments on JAGGAER One Platform’s vast network of more than 2000 customers and 4 million suppliers in 70 countries. Discover will work with JAGGAER to bring virtual card numbers as a solution in early 2020 followed by other payment method options later that year.
Taking payment processing to next level
“JAGGAER and Discover have a long history of listening to customers and are entering into a synergistic relationship to deliver the full value of virtual cards, with features that enable reconciliation. We know that our shared customer base will embrace our drive to take payment processing to the next level,” said Zia Zahiri, Chief Technology Officer at JAGGAER.
The JAGGAER One Platform and Discover can help provide a more reliable and cost-effective way for buyers to create purchase orders, receive invoices and send payments, while sellers receive more-detailed remittance information. The new payment capabilities will allow for the ability to process payments in one system rather than having to manage multiple procurement systems. By delivering enhanced data, reducing the amount of paper transactions accounts payable departments may transition from a cost center to a profit center.
“Continuing to build our commercial payments portfolio through a relationship with JAGGAER showcases our commitment to bring the best payments solutions to all transaction types,” said William Dulin, Vice President of Partnership Business Development at Discover.
New CEO and COO appointments
In another move, JAGGAER announced that Jim Bureau has been appointed Chief Executive Officer. Chief Financial Officer Vic Chynoweth will also move into the newly-created role of Chief Operations Officer.
“Our aim at JAGGAER is to transcend the customer experience and simplify the complex by providing intuitive and intelligent SaaS-based spend management solutions, enabling unparalleled user adoption and customer outcomes,” said new CEO Jim Bureau. “I look forward to building on our incredible momentum and reaching new heights as a company that will only serve to benefit our customers, employees and partners.”
“Our number one priority continues to be an unwavering focus on our customers and ensuring we are providing them with the solutions they need to succeed,” commented new COO Vic Chynoweth.