SUNNYVALE, Calif.--(BUSINESS WIRE)--Ariba® Pay™ is catching fire. More than $1 billion in payments have been made to nearly 1,300 suppliers using the innovative cloud-based service as companies seek to improve the speed and accuracy of B2B payments. Launched in July by Ariba, an SAP Company, and Discover Financial Services (NYSE: DFS), AribaPay combines the unique insights and information-sharing capability of the Ariba Network with Discover’s trusted global payments infrastructure to automate billing and settlement processes, enabling buyers and suppliers to reduce costs and complete the procure-to-pay process faster, easier, and with greater transparency.
“There are numerous benefits that come with moving to an electronic-settlement process,” said Dana Gardner, principal analyst, Interarbor Solutions. “But in taking a network-based approach using an ecosystem like Ariba and Discover, companies can create data-rich transactions that drive much greater transparency and enhance the entire procure-to-pay process.”
Changing the Game
Hayden Professional Services, Inc. has experienced the benefits of this approach first hand. As a provider of cell tower construction services, the 10-person company relies heavily on contractors. And it must pay them upfront, along with any fees associated with projects such as permits and inspections. With millions of dollars often in play, visibility into the timing and amount of payments from customers is absolutely critical.
“We need to be able to see what’s pending and when money is going to be deposited in order to move forward,” says Lisa MacPherson, Office Manager, Hayden Professional Services. “But typically, we would just get a notification that an invoice has been paid.”
As a result, MacPherson used to spend the majority of her time trying to figure out which invoices were outstanding and why – a process she said could often take up to a year.
Chasing Growth, Not Payments
All of this changed, however, when a major customer began using AribaPay. MacPherson no longer has to guess when invoices will be paid or why there may be a delay. A detailed payment schedule provides her with a clear view into the status and outlines any action that may be needed to move things along.
“AribaPay has been a good tool to help us get caught up with payments we are due because it’s tracking everything for me,” MacPherson said.
And, when an invoice has been paid, MacPherson is not only automatically notified, but receives detailed data that shows what a payment represents at the invoice and line-item level, fueling faster, more accurate reconciliation.
Hayden Professional Services is now seeing payments in 45 to 90 days now as opposed to five to six months. And this, says MacPherson, is helping the company to fuel growth. “The time we used to spend chasing after things can now be put toward getting new projects executed.”
From shopping to sharing and consuming, nearly every aspect of our personal lives has been simplified by personal networks. “By automating billing and settlement and digitizing the “pay” in procure-to-pay, AribaPay is bringing the same simplicity to B2B payments and effectively changing the game by enabling companies to drive a more efficient, effective process that creates benefits on both sides of the equation.”
To learn more about AribaPay and the value it can deliver, visit: www.aribapay.com.
About Ariba, an SAP Company
Ariba is the world’s business commerce network. Ariba combines industry-leading cloud-based applications with the world's largest web-based trading community to help companies discover and collaborate with a global network of partners. Using the Ariba® Network, businesses of all sizes can connect to their trading partners anywhere, at any time from any application or device to buy, sell and manage their cash more efficiently and effectively than ever before. Companies around the world use the Ariba Network to simplify inter-enterprise commerce and enhance the results that they deliver. Join them at: 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 more than 263,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.
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