SAP Ariba Join Hands with PrimeRevenue to Deliver Seamless Financial Supply chain
PALO ALTO, CA: The Global Supply Chain has a direct impact on the rise of Globalization. The physical and financial aspects of supply chain are interlinked where the health of one depends on the other. SAP Ariba, a software and IT services company announces a partnership with PrimeRevenue, a supply-chain finance provider, to deliver a multi-funder supply chain-financing platform with the help of an integrated source-to-pay process.
SAP Ariba offers a single, easy to use interface allowing buyers and suppliers to collaborate on items from purchase orders and invoices to discounts, extending to supply chain financing. It enables buyers to use the platform in transforming payables from balance sheet liabilities into strategic company assets. The platform also helps suppliers to reduce their financial costs and improve their working capital. The partnership aims at bringing a new standard for collaboration to the market between the two business functions, to optimize working capital and strengthen financial supply chains.
The comprehensive range of cloud-based financial supply chain solutions offered by SAP Ariba, allows companies of different sizes to close the procure-to-pay loop and drive significant business value. The solution slashes the payables processing costs and ensures invoice compliance to both negotiated terms and requirements. It also provides full visibility into payable status and opportunity as well as reducing the liquidity risks and supply chain costs. Additionally, the solution provides supplier access to accelerated cash flow and invests heftily to generate millions in dynamic early pay discounts.
“To compete and win in today’s global economy requires digital supply chains that are connected, agile and intelligent. 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,” says Alex Atzberger, President, SAP Ariba.