PALO ALTO, Calif.–(BUSINESS WIRE)–For the tenth consecutive year, SAP Ariba has been ranked among the world’s best and most innovative financial supply chain solutions. The company today announced that it has been named Best eProcurement and Best Invoice Discount Management Provider as part of an annual survey that will publish in the February issue of by Global Finance Magazine. SAP Ariba was selected by the publication’s editorial team, with input from industry analysts, corporate executives and technology experts on the basis of its market share and global coverage, product innovation, customer service, technology, execution skills and client-specific implementations.
“Supply chain finance is a hotbed of application development, with much that has moved past proof-of-concept stages to prototypes, pilots and products. The coming year should see more interesting developments emerging,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “At this time of rapid industry change, our awards aim to identify the partners best able to help multinationals identify and implement innovations – while also keeping up with regulatory and market shifts.”
SAP Ariba delivers a comprehensive range of solutions that combine the speed and simplicity of cloud-based applications with the connectivity and intelligence of the business network to deliver full visibility along with insights and intelligence that companies can use to transform their financial supply chains.
Using Ariba Discount Professional™ for instance, buyers can accelerate payments for approved invoices to key suppliers in return for discounts, earning an immediate return on their cash. And sellers can gain increased visibility into future cash flows, certainty in payment timing and the ability to use cash sooner to fund daily business needs. In the past 12 months, nearly $1 billion in invoices have been accelerated for payment using the solution, resulting in savings of more than $16.5 million for buyers and cash on hand for their suppliers.
With AribaPay™, buyers and sellers can digitize the payment process and complete it with the same speed, simplicity, reliability and security that consumers do. Identified as the Most Disruptive and Best B2B Innovation, AribaPay has been used to process more than $113 billion in payments since its launch in July 2014.
“To win at chess, you need the ability to see the whole board and how each move impacts the rest. The same is true for effective financial supply chain management,” said Drew Hofler, Senior Director, Financial Supply Chain Solutions, SAP Ariba. “At SAP Ariba, we are focused on delivering solutions that enable companies to see the big picture and execute a highly integrated cash management strategy. We are pleased to again be recognized by Global Finance Magazine for our efforts and will continue to push the envelope in delivering innovations that simplify and improve the efficiency of the entire source-to-settle process.”
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,050 and readers in 180 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance also targets the 8,000 international portfolio investors responsible for more than 80% of all global assets under professional management.
Its website — GFMag.com — offers analysis and articles that are the heritage of 28 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.
About SAP Ariba
SAP Ariba is how companies connect to get business done. On the Ariba Network, buyers and suppliers from more than two million companies and 190 countries discover new opportunities, collaborate on transactions and grow their relationships. Buyers can manage the entire purchasing process, while controlling spending, finding new sources of savings and building a healthy supply chain. And suppliers can connect with profitable customers and efficiently scale existing relationships – simplifying sales cycles and improving cash control along the way. The result is a dynamic, digital marketplace, where more than $1 trillion in commerce gets done every year.
To learn more about SAP Ariba, visit www.ariba.com.
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable approximately 335,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.
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