Ariba, Inc. (NASDAQ: ARBA), the leading spend management
solutions provider and ReadSoft, a global document process
automation provider, today announced that ReadSoft will leverage
Ariba’s offerings to deliver a comprehensive transaction processing
solution that enables companies to streamline the invoice approval
process and optimize existing investments in enterprise resource
planning (ERP) systems.
“The future of AP invoice processing is clear,” said Bob
Fresneda, President of ReadSoft North America. ”To achieve maximum
AP efficiency and the cost savings associated with it, companies
must be able to convert paper documents to electronic invoices and
transmit them to back end systems for processing. In teaming with
Ariba, we can provide companies with the tools needed to make this
vision a reality.”
Over 6,500 enterprises around the globe automate financial
document processes such as data entry, document classification,
information matching against ERP systems, document workflows,
e-invoicing and more with ReadSoft to achieve faster and less
expensive document processing and increased control. As an Ariba
partner, ReadSoft will leverage Ariba® Network™ in conjunction with
its own supplier invoice data capture (OCR) and conversion
technology to streamline the processing and approval of invoices
across every type of AP transaction, including paper, email, fax,
and portal.
Ariba Network is the world’s leading global trading platform.
Over 295,000 companies – including 94% of the Fortune 100 – used
Ariba Network to drive more than $114 billion worth of business
commerce in 2009. Through Ariba Network, companies can access all
of the tools needed to increase the efficiency and effectiveness of
the accounts payable and receivable functions and efficiently
discover, connect, and collaborate with a global network of trading
partners – all on a single platform.
Seamlessly integrating with Ariba Network, the ReadSoft solution
for automated invoicing complements a company’s SAP environment,
enabling organizations to optimize investments in ERP
infrastructure. Using the solution, companies can connect directly
to suppliers and eliminate paper at the source, driving both AP
efficiencies and cost savings. In addition, organizations can
deliver increased value to suppliers by providing visibility into
invoice and payment status while already optimizing efficiency,
improving visibility, shortening cycle time and improving control
of both accounts payable and purchasing operations.
“In uncertain economic times, companies need solutions that
drive process efficiencies and savings that positively impact the
bottom line,” said Joe Fox, Senior Director, Network and Financial
Solutions, Ariba. “In joining forces with Ariba, ReadSoft is
providing its customers with access to market-leading technology
and a powerful trading network they can leverage to migrate a
greater percentage of their invoice volume from paper to electronic
documents and deliver immediate, measurable and sustainable
results.”
About ReadSoft
ReadSoft is the global leader in the development and sales of a
complete product platform for Document Process Automation. With
thousands of customers on a global basis, ReadSoft supports
customers and partners in North America with offices in 7
locations, including the corporate headquarters in New Orleans,
LA.
Established in 1991, ReadSoft was first to bring free form
technology for invoice processing to market and first to achieve
certifications to enterprise resource planning systems such as SAP
and Oracle. ReadSoft has become the global technology leader, with
operations in 16 countries and partners in an additional 70. We are
proud to have the largest and most innovative development
department in the industry, with professional services to assist
customers and partners on a global basis. ReadSoft’s vision is to
free businesses everywhere from manual document handling. For more
information please visit www.readsoft.com
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
Copyright © 1996 – 2010 Ariba, Inc.
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 February 5, 2010.
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