Global supply chains, the physical and financial are inextricably linked. The health of one depends on the other. SAP believe that, “Right now, lots of supply chains are sick.” And, of course, SAP Ariba believe that they now have the cure in their teaming up with PrimeRevenue to deliver multi-funder financing platform as part of their integrated source-to- pay process, enabling buyers and suppliers to optimize relationships and cash flows
Connecting the dots and removing the friction
SAP Ariba believe that by marrying, 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.”
A global leader in supply chain finance solutions, PrimeRevenue runs the world’s largest multi-funder supply chain finance programmes. 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 will be able to 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.
SAP Ariba believe that by using this new integrated platform, buyers will be able to 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.”
CTMfile take: This new partnership and integration of the services from two of the biggest players in the financial supply chain business is important and could remove significant restrictions in setting up several kinds o supply chain financing. The acid test will be how ‘seamless’ it really will be and how easily PrimeRevenue can deliver their financing to all kinds and sizes of corporates world-wide.
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