More NewsAriba and The Receivables Exchange Team to Help Suppliers Battle Financing Crunch

Ariba and The Receivables Exchange Team to Help Suppliers Battle Financing Crunch

Ariba and The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, have announced that they are joining forces to help suppliers around the world battle the global financing crunch. Under the terms of a newly signed agreement, the companies will team to provide suppliers with access to competitively priced capital through a receivables auctioning solution accessed via the Ariba® Supplier Network™.

“It’s estimated that more than half of all companies with under US$1bn in revenues depend on secured and unsecured lines of credit to feed their short term cash needs. Unfortunately, in today’s economy, this is exactly the type of credit that is becoming less and less available,” said Bob Solomon, senior vice president and general manager, Ariba Supplier Network. “By joining forces with The Receivables Exchange, Ariba can provide suppliers with an alternative source of funding that enables them to maintain the strength and competitiveness of their operation in both the short and long term.”

Changing the landscape of business financing, The Receivables Exchange connects suppliers (member sellers) to a global network of accredited investors (receivables buyers) who compete in a real-time auction marketplace to buy their receivables. Ariba will provide access to The Receivables Exchange through its Supplier Network, enabling members to seamlessly transfer their receivables from the network to the Exchange for auction.

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