With the fate of the global economy still uncertain, companies
have made managing cash and working capital job number one. And
Ariba, Inc. (Nasdaq: ARBA) is arming them with the tools they need
to do it with the latest release of its collaborative commerce
platform. Designed to enhance the company’s smart invoicing
capabilities, new features within the release enable organizations
to further streamline global invoice processing, support complex
compliance requirements, and improve business commerce
collaboration.
“Accounts Payable (AP) teams spend inordinate amounts of time
and effort processing paper invoices. To address this problem, many
companies have implemented solutions to digitize them. But with one
in five invoices still containing an overcharge or other error,
it’s clear that digitization only leads to bad invoices being
delivered faster,” said James Tucker, Director of Marketing,
Invoice and Payment Solutions, Ariba. “With the enhancements to the
Ariba® Invoice Management™ suite of solutions, companies around the
world can execute a smart invoicing process that provides full
visibility and control, improves compliance, and automates
reconciliation, eliminating errors and rework so that only accurate
invoices reach AP.”
Streamlined Invoice Processing
Delivered on-demand via the Ariba Network, Ariba’s Invoice
Management™ solution features smart invoicing capabilities, where
e-invoices undergo an automated validation process upon supplier
submission. This smart validation eliminates errors and rework so
only accurate and approved invoices reach AP. Validated invoices
are then posted directly to ERP systems for on-time payment and
discount capture.
“A unique strength of on-demand and cloud solutions is the
integration and validation at the business process level, of
pulling together many disparate elements of a process -- but with
the proper governance along the way,” said Dana Gardner, Principal
Analyst, Interarbor Solutions. “Managed automation across all the
elements of the process makes invoicing work far better. And it
leads to even further benefits up and down the supply chain and
procurement lifecycles.”
By putting a smart invoicing process in place, companies
can:
- Reduce operating costs by 70 percent or
more
- Enable 98 percent touchless invoice
processing
- Minimize risk of overpayments and
fraud
With the new features baked into the latest release of Ariba
Invoice Management, companies can take things a step further
and:
- Accelerate processing of valid PO and
non-PO invoices
- Perform automated, detailed PO-line
level matching on any invoice, including scanned invoices
- Simplify management of rejected
invoices and dispute resolution
"Implementing an electronic invoicing process has allowed
OfficeMax and its customers to reduce purchase order and invoice
processing errors,” said Patrick Ogborn, Vice President, eCommerce,
OfficeMax, an early adopter of Ariba’s solutions. “And this has
enabled tighter integration and collaboration with our customers on
the Ariba Network."
Expanded Global Coverage
World class organizations are embracing e-invoicing to
streamline their payable operations, lower operating costs, improve
compliance and optimize working capital. As more organizations seek
to expand e-invoicing initiatives globally, the ability to meet
complex tax and compliance requirements that vary by country is
critical. With its recent acquisition of b-process, France’s
largest electronic invoice network and one of the largest
e-invoicing networks in Europe, and the latest release of the Ariba
collaborative commerce platform, Ariba enables organizations to
more effectively execute a global e-invoicing strategy that
supports indirect tax methods such as VAT, withholding taxes,
e-archiving, and related country-specific e-invoicing
requirements.
b-process delivers a flexible set of solutions for e-Invoicing
that are used by large buyer customers across industries,
including: Carrefour, EADS, Eurocopter, Gefco, IATA, Marmara,
Saint-Gobain and Vinci Energie. The solutions accept invoices in
any type of structured format files, including positional, EDI, XML
and PDF, allowing buyers and suppliers to quickly and easily
connect to the b-process commerce network and begin processing
invoices immediately, regardless of the AP, ERP, or other back
office systems they are using.
Combined with the Ariba® Invoice Management™ suite of solutions,
the offerings enable companies to implement a touchless global
invoicing process that reduces operating costs by up to 70 percent,
supports complex compliance requirements, and improves business
commerce collaboration.
And with the expanded set of country-based business rules and
templates and new tools delivered as part of the latest
enhancements to Ariba’s solutions, companies can:
- Configure up to 40 business rules at
the country level and apply them to e-invoice templates, which
include default e-invoice configuration by country
- Capture withholding tax support
critical in certain countries for specific suppliers
- Prevent header-level taxes and
discounts when lines on an invoice are subject to different tax
rates
- Automatically select titles for
invoices and credit memos that follow country-specific
guidelines
Ariba is consistently recognized for its understanding of the
requirements for doing business in Europe and unique tools to
address them, including its VAT compliance capabilities. Ariba
Invoice Management has twice been ranked “Best Electronic Invoice
Presentment and Payment Solution” by Global Finance Magazine.
Improved Collaboration
In today’s volatile economy, two things are crucial to the
success of any organization: collaboration and flexibility. This is
particularly true when it comes to managing cash. With the latest
release of the Ariba collaborative commerce platform, buyers and
sellers can improve their ability to gain visibility into the
timing and status of payments and thereby improve their cash
flows.
They can also enable dynamic discounting programs to more
effectively manage these cash flows and mitigate financial risk.
Leveraging Ariba Invoice Management in conjunction with Ariba
Discount Professional™, for instance, buyers and sellers can fully
automate the process of offering, negotiating, and agreeing on
early payment terms. 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.
“Faced with market volatility and economic uncertainty, many
companies are parking their cash to hedge against financial risk,”
said Drew Hofler, Senior Manager, Working Capital Management
Solutions, Ariba. “But with interest rates at historic lows, an
increasing number are beginning to view their supply chains as a
more viable opportunity for investment. Leveraging Ariba Discount
Professional, buyers can achieve a greater return on their cash
that is effectively risk-free because they are investing in their
own suppliers. And suppliers can access a better and faster source
of cash for their receivables.”
To date, companies using Ariba Discount Management have been
able to:
• Increase early payment discount capture from 35 percent to
greater than 90 percent
• Expand supplier discount participation to greater than 20
percent
• Achieve average discounts of 1.95%
• Capture over $2 million in early payment discount savings for
every $1 billion in targeted spend
But there’s a benefit to suppliers who offer discounts as well.
“The cost of capital today is high for startups. Even with strong
revenue growth, when you haven’t been in business for a long period
of time, you often won’t have a balance sheet or P&L that you
can lever to get competitive rates from traditional sources,” said
John Evarts, COO and CFO of Mediafly, a Chicago-based company that
delivers a cloud-based platform and applications for content
management and distribution on mobile devices to Fortune 500
companies. “With Ariba’s dynamic discounting solution, we have
gained quicker access to the capital we need to hire developers and
get to the next set of features in our products which accelerates
revenue and ultimately generates cash.”
Mediafly CEO Carson Conant further mentioned, “We actually ask
prospective customers if they are on Ariba network because their
answer has ramifications to how they can fuel our growth.”
Availability
Ariba’s collaborative commerce platform is available and in use
today. To learn more about how your organization can leverage it to
buy, sell and manage cash, more efficiently and effectively visit:
www.ariba.com
To learn more about Ariba’s Invoice Management and Dynamic
Discounting solutions and the results they can deliver, visit:
http://www.ariba.com/solutions/manage-cash.cfm
About Ariba, Inc.
Ariba, Inc. is the leading provider of collaborative business
commerce solutions. Ariba combines industry-leading technology with
the world's largest web-based trading community to help companies
discover, connect and collaborate with a global network of partners
– all in a cloud-based environment. Using the Ariba® Commerce
Cloud, businesses of all sizes can buy, sell and manage cash more
efficiently and effectively. Over 700,000 companies around the
globe use the Ariba Commerce Cloud to simplify inter-enterprise
commerce and enhance results. Why not join them? To get on the path
to Better Commerce visit: www.ariba.com/commercecloud/
Copyright © 1996 – 2011 Ariba, Inc.Ariba, the Ariba logo,
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Automation, Ariba PO Automation, Ariba Express Content, Ariba
Ready, and Ariba LIVE are trademarks or service marks of Ariba,
Inc. All other brand or product names may be trademarks or
registered trademarks of their respective companies or
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Ariba Safe HarborSafe Harbor Statement under the Private
Securities Litigation Reform Act 1995: Information and
announcements in this release involve Ariba's expectations,
beliefs, hopes, plans, intentions or strategies regarding the
future and are forward-looking statements that involve risks and
uncertainties. All forward-looking statements included in this
release are based upon information available to Ariba as of the
date of the release, and we assume no obligation to update any such
forward-looking statements. These statements are not guarantees of
future performance and actual results could differ materially from
our current expectations. Factors that could cause or contribute to
Ariba's operating and financial results to differ materially from
current expectations include, but are not limited to: the impact of
the credit crises on Ariba’s results of operations and financial
condition; delays in development or shipment of new versions of
Ariba's products and services; lack of market acceptance of Ariba's
existing or future products or services; inability to continue to
develop competitive new products and services on a timely basis;
introduction of new products or services by major competitors; the
impact of any acquisitions, including difficulties with the
integration process or the realization of benefits of a
transaction; the impact of our disposition, including the potential
disruption of our ongoing business; the ability to attract and
retain qualified employees; long and unpredictable sales cycles and
the deferrals of anticipated orders; declining economic conditions,
including the impact of a recession; inability to control costs;
changes in the company's pricing or compensation policies;
significant fluctuations in our stock price; the outcome of and
costs associated with pending or potential future regulatory or
legal proceedings; the impact of our acquisitions and dispositions,
including the disruption or loss of customer, business partner,
supplier or employee relationships; and the level of costs and
expenses incurred by Ariba as a result of such transactions.
Factors and risks associated with its business, including a number
of the factors and risks described above, are discussed in Ariba's
Form 10-K filed with the SEC on November 10, 2011.
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