See initial Spend Matters Nexus and PRO coverage here: By acquiring BELLIN to compete in the TMS world, Coupa will ostensibly fortify its position in being able to sell to CFOs as much as CPOs with a broader value proposition (including broader-based payment capabilities than all of its procurement/AP/spend peers can support, at least without a TMS partnership and development of new combined process flows). But beyond the expanded CFO value proposition and B2B payment intersections, there's quite a bit beneath the surface with a TMS that could create additional value propositions linked with transactional procurement, supplier management, risk management, invoicing and payment capabilities. This Spend Matters Nexus brief provides a quick overview of treasury management system market dynamics, including buyer trends and requirements.