Ariba, Inc. (Nasdaq:ARBA), the leading spend management
solutions provider, today celebrated the 10th anniversary of its
industry-leading global trading network with the release of Ariba®
Network™ 48. Building on robust functionality developed over the
last decade, the release features new capabilities designed to help
companies manage their trading relationships and cash more
efficiently and effectively than ever before.
“The recession has sparked deep and widespread changes in how
businesses operate, organize and manage costs and created a new
state of normal that will require companies to be more agile than
ever,” said Bob Solomon, Senior Vice President and General Manager,
Ariba Network. “To drive this agility, companies need to leverage
flexible solutions like Ariba Network that enable simplified
business processes across an extended network of business
partners.”
Fueling Global Commerce for More than a Decade
Ariba Network is the world’s leading global trading platform.
Over 250,000 companies – including 94% of the Fortune 100 – use
Ariba Network to drive more than $110 billion worth of business
commerce each year. Through Ariba Network, companies can
efficiently discover, connect, and collaborate with a global
network of trading partners – all on a single platform. And because
it’s delivered as a Web-based service, there’s no need to manage
software, infrastructure or trading partner integration. Companies
can just plug in and tap the resources they need as they need them
to drive their business goals.
Discovering Buyers and Suppliers Around the World
With the launch of AN48, Ariba makes it easier than ever for
companies to find key trading partners. Leveraging enhanced
discovery tools, buying organizations can:
- Post and collaborate with
internal team members on RFPs
- Specify preferences for
diversity and green initiatives across the following categories:
Green Plan, Products & Services, Energy, Carbon,
Transportation
- Communicate directly with
suppliers using a new two-way messaging feature
- Review supplier profiles that
combine supplier-provided information, Ariba certifications and
Ariba Network activity levels
And suppliers can:
- Gain immediate access to
thousands of buyers in the active purchasing cycle
- Create and dynamically update
detailed capability profiles
- Automatically receive RFPs that
match their capabilities
- Search for RFPs by commodity,
sales territory and project amount
- Reduce time and expense
associated with forging and managing trading relationships
“Buyers spend up to 30% of their time and resources on supplier
discovery and suppliers spend at least this much finding decision
makers and qualifying leads,” Solomon said. “Ariba Network
simplifies this process by connecting buyers in active purchasing
cycles with qualified suppliers and automating the proposal-to-bid
process from end-to-end.”
Managing Capital in the New Normal
In uncertain economic times, buyers and suppliers must work more
closely together than ever to ensure their mutual viability and
financial health. With the release of AN48, buyers and suppliers
have access to new and enhanced tools that enable them to do this,
including:
Cash optimizer – In today’s business environment,
liquidity needs can change on a dime. Recognizing this, Ariba has
created a cash optimizer that allows suppliers to evaluate all of
the liquidity opportunities available to them through Ariba Network
- including early payment discounts, receivables auctioning and
third-party financing - to ensure they get the cash they need when
they need it under the most favorable terms and conditions.
“It used to be that suppliers were bound to factoring and
borrowing from banks,” said Joe Fox, Senior Director, Network and
Financial Solutions, Ariba. “With the new cash optimizer, they can
gain a full view into alternative sources of liquidity and decide
which is best for their business at any given time. And they’ll
never run into a situation where they can’t get the money, because
if it can’t come through early payments, they can auction their
receivables or seek third-party financing.”
New in AN48, Ariba has fully integrated the platform of the
world’s leading marketplace for trading accounts receivables, The
Receivables Exchange, into Ariba Network, enabling members to post,
view and manage receivables auctions through the same interface
they use to manage their invoices and catalogs.
Dynamic discount management – In the old days, buyers who
wanted to manage their capital more effectively simply extended
payment terms. But today’s economy demands a different approach.
With AN48, buyers have access to new tools that enable them to
better manage the terms they are establishing with suppliers and
change them as their capital needs change, specifying, for
instance, which suppliers and in which industries they want to
offer early payment terms.
“It’s a win-win for both sides,” Fox said. “Buyers have more
capital because they are paying less and suppliers have the
liquidity they need to fuel their operations, eliminating risk
across the supply chain.”
Easy electronic invoicing – Through an enhanced process
for entering invoices, AN48 enables suppliers to cut the order to
cash cycle in half, speeding both the time required to submit
invoices and receive payments.
“Invoice errors cost companies billions each year,” Fox said.
“With AN48, companies can implement a best-practice process to
reduce these errors and increase the efficiency and effectiveness
of the accounts payable and receivable functions.”
Optimizing Order Management
Ariba Network provides a comprehensive range of solutions that
are used to support over $23 million in orders on an annual basis.
With new capabilities included in AN48, companies can optimize
their order management by gaining real-time visibility across all
orders and activities.
Product Availability
AN48 is available and in use by buyers and suppliers around the
world today. To learn more about Ariba Network and the benefits it
can deliver, visit www.ariba.com/go/network.
About Ariba, Inc.
Ariba, Inc. is the leading provider of on-demand spend
management solutions. Our mission is to transform the way companies
of all sizes, across all industries, and geographies operate by
delivering technology, service, and network solutions that enable
them to holistically source, contract, procure, pay, manage, and
analyze their spend and supplier relationships. Delivered on
demand, our enterprise-class offerings empower companies to achieve
greater control of their spend and drive continuous improvements in
financial and supply chain performance. More than 1,000 companies,
including more than half of the companies on the Fortune 100, use
Ariba solutions to manage their spend from sourcing and orders
through invoicing and payment. For more information, visit
www.ariba.com.
Ariba, the Ariba logo, AribaLIVE, SupplyWatch, Ariba.com,
Ariba.com Network and Ariba Spend Management. Find it. Get it. Keep
it. are registered trademarks of Ariba, Inc. Ariba Spend
Management, Ariba. This is Spend Management, Ariba Solutions
Delivery, Ariba Analysis, Ariba Buyer, Ariba Category Management,
Ariba Category Procurement, Ariba Contract Compliance, Ariba
Contracts, Ariba Contract Management, Ariba Contract Workbench,
Ariba Data Enrichment, Ariba eForms, Ariba Invoice, Ariba Payment,
Ariba Sourcing, Ariba Spend Visibility, Ariba Travel and Expense,
Ariba Procure-to-Pay, Ariba Workforce, Ariba Supplier Network,
Ariba Supplier Connectivity, Ariba Supplier Performance Management,
Ariba Content Procurement, Ariba PunchOut, Ariba QuickSource,
PO-Flip, Ariba Spend Management Knowledge Base, Ariba Ready, Ariba
Supply Lines, Ariba Supply Manager, Ariba LIVE, It’s Time for Spend
Management and Supplier Lifecycle Management 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 organizations in the United States and/or other
countries.
Ariba Safe Harbor
Safe 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 ability to attract
and retain qualified employees; difficulties in assimilating
acquired companies, 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, 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-Q filed with the SEC on August 7, 2009.
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