Software and IT services company SAP Ariba and supply chain finance specialist PrimeRevenue have formed a partnership to deliver a multi-funder supply chain financing platform as part of an integrated source-to-pay process.
The partners promise that the new platform “will bring a new standard for collaboration to the market between the two business functions, to optimise working capital and strengthen financial supply chains”.
SAP Ariba offers a single, easy-to-use interface through which buyers and suppliers can collaborate on items from purchase orders and invoices to discounts, which now extends to supply chain financing.
Buyers can use the platform to transform payables from balance sheet liabilities into strategic company assets, while suppliers can 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.”
Further details on the new platform are available on the Ariba website.