Source: SAP Ariba
When it comes to global supply chains, the physical and financial are inextricably linked. The health of one depends on the other.
Right now, lots of supply chains are sick. But SAP Ariba has a cure. The company today announced that it is teaming with PrimeRevenue to deliver a multi-funder supply chain financing platform as part of an integrated source-to-pay process. By marrying relationship, transaction and financial data, the companies will connect the dots between procurement and finance and provide the insights and visibility buyers and suppliers need to optimize their relationships and cash flows.
“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.”
Connecting the Dots
A global leader in supply chain finance solutions, PrimeRevenue runs the world’s largest multi-funder supply chain finance programs. The company’s cloud-based platform provides financing solutions to thousands of trading partners from across the globe, in over 70 countries and in multiple currencies.
In connecting the Ariba Network to PrimeRevenue, SAP Ariba can provide a single, easy-to-use interface through which buyers and suppliers can collaborate on everything from purchase orders and invoices to discounts - and now supply chain financing - in a frictionless manner.
Using the platform, buyers can transform payables from balance sheet liabilities into strategic company assets. And suppliers can reduce their financing costs and improve their working capital.
“In today’s dynamic global environment, maintaining a strong, efficient, and secure financial supply chain is critical,” said PJ Bain, CEO, PrimeRevenue. “In connecting our cloud-based solution to SAP Ariba’s business network, we can revolutionize financial supply chain management by providing a completely new and innovative way for companies around the world to optimize working capital and strengthen their financial supply chains.”
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