PALO ALTO, Calif.--(BUSINESS WIRE)--When it comes to global supply chains, the physical and financial are inextricably linked. The health of one depends on the other. Right now, lots of supply chains are sick. But SAP Ariba has a cure. The company today announced that it is teaming with PrimeRevenue to deliver a multi-funder supply chain financing platform as part of an integrated source-to-pay process. By marrying relationship, transaction and financial data, the companies will connect the dots between procurement and finance and provide the insights and visibility buyers and suppliers need to optimize their relationships and cash flows.
“To compete and win in today’s global economy requires digital supply chains that are connected, agile and intelligent,” said Alex Atzberger, President, SAP Ariba. “In joining forces, SAP Ariba and PrimeRevenue can create a closed-loop system that links all of the data companies need to manage transactions and supply chain financing events with greater insight, speed and simplicity than ever.”
Connecting the Dots
A global leader in supply chain finance solutions, PrimeRevenue runs the world’s largest multi-funder supply chain finance programs. The company’s cloud-based platform provides financing solutions to thousands of trading partners from across the globe, in over 70 countries and in multiple currencies.
In connecting the Ariba Network to PrimeRevenue, SAP Ariba can provide a single, easy-to-use interface through which buyers and suppliers can collaborate on everything from purchase orders and invoices to discounts - and now supply chain financing - in a frictionless manner.
Using the platform, buyers can transform payables from balance sheet liabilities into strategic company assets. And suppliers can reduce their financing costs and improve their working capital.
“In today’s dynamic global environment, maintaining a strong, efficient, and secure financial supply chain is critical,” said PJ Bain, CEO, PrimeRevenue. “In connecting our cloud-based solution to SAP Ariba’s business network, we can revolutionize financial supply chain management by providing a completely new and innovative way for companies around the world to optimize working capital and strengthen their financial supply chains.”
SAP Ariba offers a comprehensive range of cloud-based financial supply chain solutions that enable companies of all sizes to close the procure-to-pay loop and drive significant business value by:
- Reducing payables processing costs and ensuring invoice compliance to both negotiated terms & regulatory requirements
- Providing full visibility into payables status and opportunity
- Reducing liquidity risk and supply chain costs
- Providing supplier access to accelerated cash flow
- Deploying excess cash to capture millions in dynamic early-pay discounts.
- Improving working capital performance and increasing free cash flow
To learn more about the latest addition to this portfolio and the value it can deliver, visit http://www.ariba.com/solutions/financial-supply-chain-management/strategic-payables/supply-chain-finance
About SAP Ariba
SAP® Ariba® is the marketplace for modern business, creating frictionless exchanges between millions of buyers and suppliers across the entire source-to-pay process. Our market-leading solutions enable companies to simplify collaboration with their trading partners, make smarter business decisions and extend their collaborative business processes with an open technology platform. More than two million companies use SAP Ariba solutions to connect and collaborate around nearly one trillion in commerce on an annual basis. To learn more about the company’s offerings and the transformation they are driving, visit www.ariba.com
About PrimeRevenue, Inc.
PrimeRevenue makes the global economy more efficient by unlocking cash in corporate financial supply chains. Headquartered in Atlanta, with offices in Prague, Hong Kong & London, PrimeRevenue manages $120 billion in transactions every year and frees up cash for over 20,000 clients, in over 70 countries to invest in their company’s future. Additional information about PrimeRevenue can be found at www.primerevenue.com | Twitter: @primerevenue | LinkedIn: http://www.linkedin.com/company/primerevenue |
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