AribaPay Goes Live
AribaPay Goes Live
First transactions using cloud-based service deliver unique B2B payment experience
LAS VEGAS, NV, March 18, 2014 – Like many suppliers, Arlington Computer Products used to invoice its customers, then wait and wonder when – and how much – they would be paid. Then the company learned of AribaPay. Unveiled last year by Ariba, an SAP Company, and Discover Financial Services (NYSE: DFS), the direct banking and payment services leader, AribaPay is a cloud-based B2B payments solution designed to provide better visibility into business payments and produce rich remittance information to improve the reconciliation processes. After participating in an early access program and completing the first payments using the service, Arlington Computer Products says AribaPay more than delivers on its promise.
“Before AribaPay, we would essentially send invoices into a black hole and spend countless hours managing and chasing them to figure out when we might see a payment,” said Arly Guenther, CEO, Arlington Computer Products. “With AribaPay, we know exactly where things stand from the time we hit send. The ‘track and trace’ element gives us a great view on where the payment stands at any point in time. And with the elimination of paper documents and the real-time remittance information that accompanies our electronic payments, we can reconcile things faster and more effectively manage our cash. I look forward to more of our customers using this service.”
A fully integrated, end-to-end solution, AribaPay completes the procure-to-pay cycle embedded in the Ariba Network by integrating it into Discover’s trusted global payments infrastructure to effect payments at maturity.
“B2B commerce is fast becoming a landscape that captures the procure-to-pay process and monetizes the transactions involved,” said Heather Ashton, research manager, IDC Manufacturing Insights. “B2B commerce network operators are promising companies visibility and tighter control of cash flow, providing them with the critical financial services link in exchange for tying the companies to a network.”
With AribaPay on the Ariba Network, ordering, billing and settlement processes between buyers and sellers are fully integrated. Companies can reduce costs, reduce risk and complete the procure-to-pay process faster, easier, and with greater transparency and security than ever before.
“For too long, making and receiving B2B payments has been an exercise in hope and effort. This has led to a highly inefficient and costly process for businesses on both sides of the trading partner relationship,” said Drew Hofler, Financial Solutions Marketing Director, Ariba. “In combining the pre-settlement business collaboration of the Ariba Network with Discover’s capacity to securely move money on a global scale, AribaPay completes the last mile in the B2B process and lays the track for next-generation B2B financial collaboration that benefits buyers and sellers.”
As Hofler notes, AribaPay creates value on both sides of the transaction. Buyers who create purchase orders and receive invoices through the Ariba Network will be able to close the procure-to-pay loop by sending payments to their suppliers using Ariba Pay. They’ll see less paper, less risk and less effort in managing bank account information and related data. And they’ll uncover and resolve disputes faster, monitor on-going payments better and lower their processing costs and fraud risk.
Sellers will be able to receive rich remittance information and gain a clear and reliable view into future payments. They’ll be able to track and trace payments, uncover payment problems earlier and ultimately reconcile faster while lowering their payment processing costs.
And they’ll do it all in a completely automated and secure environment.
Other benefits include:
- Lower processing costs
- Richer remittance advice
- Elimination of paper checks and invoices
- Fewer payments lost to escheatment
- Ability to track and trace transactions
- Faster reconciliation and dispute resolution
“Discover’s payments infrastructure complements the innovative solutions that AribaPay brings to the B2B payments process,” said Joe Hurley, senior vice president of global development for Discover. “As AribaPay spreads across the B2B payments landscape, Discover offers a layer of flexibility, trust and security to buyers and sellers who need fast and accurate settlement and reconciliation for their businesses.
AribaPay will be made generally available in the United States during the second quarter of 2014.
About Arlington Computer Products
ACP is a Value Added Reseller providing leading technology solutions at the best value possible by combining aggressive pricing and value added services. ACP provides services above and beyond what is typical in the marketplace including services, complex solutions, financing and more. For more information, please visit http://www.arlingtoncp.com/.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discover.com/company.
About Ariba, an SAP Company
Ariba is the world’s business commerce network. Ariba combines industry-leading cloud-based applications with the world's largest web-based trading community to help companies discover and collaborate with a global network of partners. Using the Ariba® Network, businesses of all sizes can connect to their trading partners anywhere, at any time from any application or device to buy, sell and manage their cash more efficiently and effectively than ever before. Companies around the world use the Ariba Network to simplify inter-enterprise commerce and enhance the results that they deliver. Join them at: www.ariba.com
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 253,500 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.
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Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP and Discover are intended to identify such forward-looking statements. SAP and Discover undertake no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations including, but not limited to, unexpected difficulties or delays in executing the proposed initiative, receptivity of marketplace participants to the initiative, and other factors affecting the operating of the respective businesses of SAP and Discover, as applicable. The factors that could affect SAP's and Discover’s future financial results are discussed more fully in SAP's and Discover’s filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F and Discover’s most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
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