SAP Ariba is partnering with PrimeRevenue to deliver multi-funder supply chain financing as part of an integrated source-to-pay process.
The partnership will combine relationship, transaction and financial data in a single, simple interface for collaboration between buyers and sellers on everything from purchase orders and invoices to discounts — and now supply chain financing.
The partnership will enable buyers to transform payables from balance sheet liabilities into strategic company assets while helping suppliers reduce their financing costs and improve their working capital.
“To compete and win in today’s global economy requires digital supply chains that are connected, agile and intelligent,” said Alex Atzberger, president, SAP Ariba. “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.”
“In today’s dynamic global environment, maintaining a strong, efficient, and secure financial supply chain is critical,” said PJ Bain, CEO, PrimeRevenue, an Atlanta-based leader in supply chain finance solutions, operating in 70 countries around the world.
“In connecting our cloud-based solution to SAP Ariba’s business network, we can revolutionise financial supply chain management by providing a completely new and innovative way for companies around the world to optimise working capital and strengthen their financial supply chains,” he said.
SAP Ariba’s cloud-based financial supply chain solutions enable more than 2 million organisations around the world to optimise their financial supply chains, improving the performance of working capital and increasing cash flow. Key benefits include: reducing payables processing costs and ensuring invoice compliance; providing full visibility of payables status and opportunity; reducing liquidity risk and supply chain costs; providing suppliers with access to accelerated cash flow; and capturing millions of dollars in dynamic early-pay discounts.
