Barclaycard Commercial Payments is integrating its business-to-business product, Precisionpay, into SAP Ariba, a B2B marketplace.
Coming later in the year, the integration promises to bring procurement and payment together in one place, the Ariba Network.
The first Barclaycard product to launch within Ariba Network will be Precisionpay Bank Transfer, which Barclays claims combines the perks of card payments for buyers with the cost-effectiveness of bank transfers for suppliers.
The tool is designed to help buyers pay suppliers much earlier in the procurement cycle, improving relationships, and allowing them to take advantage of any prompt payment discounts.
Meanwhile, suppliers get prompt payments, which improves cashflow, making the business more resilient.
Ariba customers using Precisionpay will also get access to data-led insights, powered by SAP's cloud tech, helping them make smarter payment and procurement decisions.
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