Ariba Among World’s Best Supply Chain Finance Solutions
Company Named Best Supplier Support and Enrollment Provider by Global Finance Magazine
SUNNYVALE, Calif. - Ariba, Inc. (Nasdaq:ARBA), the leading spend management solutions provider, today announced that it has been recognized as one of the world’s best supply chain finance solutions. As part of Global Finance Magazine’s 2008 Best Supply Chain Providers awards, Ariba has been named Best Global Supplier Support and Enrollment Provider. Ariba was selected by a group of industry analysts, corporate executives and technology experts based on its market share, product innovation, customer services, technology, execution and customer successes.
“Supply chain financing is becoming a highly competitive space with a mixture of both banks and non-banks providing financing and web-based tools designed to enable buyers to extend their Days Payable Outstanding (DPO) while enabling their network of suppliers to get paid earlier and gain access to more affordable lines of credit,” said Joseph Giarraputo, publisher and editorial director of Global Finance. “Through their solutions, the companies recognized as part of our inaugural Best Supply Chain Finance Providers awards are helping buyers and their global networks of suppliers achieve real cost benefits, savings and efficiencies that enhance their operations and competitive advantage.”
Ariba provides a comprehensive range of on-demand spend management solutions that enable large and growing enterprises to develop and implement a highly integrated cash management strategy while improving the efficiency of the entire procure-to-pay cycle. Delivered via the Ariba® Supplier Network™, Ariba’s Invoice and Payment™ solutions, for instance, effectively enable companies to optimize their invoicing and reconciliation processes to achieve straight through processing and generate measurable and sustainable results, including:
Reduction of paper invoicing volume by more than 60 percent.
Decrease in PO-Invoice error rates by over 50 percent.
Trimming of invoice & payment cycle times by 75 percent.
Capture of negotiated and early-pay discounts otherwise lost to manual processes
Bulk enablement of several thousand suppliers in months rather than years
And with built-in working capital management and dynamic discounting capabilities, the Ariba Supplier Network also enables suppliers to better manage receivables-based working capital and reduce Days Sales Outstanding (DSO) and buyers to lower overall costs.
“At Ariba, we are focused on enabling entire supply chains to optimize their capital, accomplish more with less, and not merely survive the tough economic times, but thrive in them,” said Bob Solomon, Senior Vice President and General Manager, Ariba Supplier Network. “We are pleased to be recognized by Global Finance Magazine for our efforts and will continue to push the envelope in developing and delivering solutions that allow buyers and suppliers to reduce risk, lower capital costs and preserve competitive advantage.”
Over 900 companies worldwide, including more than half of the Fortune 500, rely on Ariba to reduce costs, improve profits and increase competitive advantage. To learn more about Ariba’s solutions and the results they can deliver, please visit www.ariba.com.
About Ariba, Inc.
Ariba, Inc. is the leading provider of spend management solutions to help companies realize rapid and sustainable bottom line results. Successful companies around the world in every industry use Ariba Spend Management™ software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com.
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