Ariba, an SAP Company, and Discover Financial Services has unveiled Ariba Pay. The new service, to be offered by Ariba, is expected to transform B2B payments by eliminating paper transactions, providing better visibility into cash flow, and producing rich remittance information that improves reconciliation processes for buyers and sellers.
The cloud-based service. announced at the Ariba LIVE, conference, will combine the applications and insights embedded in the Ariba Network and deliver them through a trusted and secure global-payments infrastructure to streamline and enhance settlement and reconciliation of business commerce. The service is expected to be generally available in 2014. [Disclosure: Ariba is a sponsor of BriefingsDirect podcasts.]
“It’s the classic joke: The check is in the mail. But few companies find it funny,” said Kevin Costello, president, Ariba. “Buyers are drowning in paper, and sellers have no idea when -- or how much -- they will be paid. AribaPay will effectively eliminate these issues.”
AribaPay will provide a way for buyers to create purchase orders, receive invoices, and send payments, while sellers receive more-detailed remittance information in a fast, secure, electronic environment.
"Ariba and Discover are seizing the opportunity to digitize a share of the estimated $30 trillion in B2B payments that are still mostly made with paper checks,” said Roger Hochschild, president and chief operating officer for Discover. “Discover is broadening its network capabilities and infrastructure and choosing diverse business partners like Ariba to move beyond facilitating payments to enabling and improving business commerce.”
For buyers and sellers connected to the Ariba Network, AribaPay will deliver data that shows what payments represent at the invoice and line-item level, fueling faster, more accurate reconciliation on both sides.
Buyers are drowning in paper, and sellers have no idea when -- or how much -- they will be paid. AribaPay will effectively eliminate these issues.
About Dana Gardner At Interarbor Solutions, we create the analysis and in-depth podcasts on enterprise software and cloud trends that help fuel the social media revolution. As a veteran IT analyst, Dana Gardner moderates discussions and interviews get to the meat of the hottest technology topics. We define and forecast the business productivity effects of enterprise infrastructure, SOA and cloud advances. Our social media vehicles become conversational platforms, powerfully distributed via the BriefingsDirect Network of online media partners like ZDNet and IT-Director.com.
As founder and principal analyst at Interarbor Solutions, Dana Gardner created BriefingsDirect to give online readers and listeners in-depth and direct access to the brightest thought leaders on IT. Our twice-monthly BriefingsDirect Analyst Insights Edition podcasts examine the latest IT news with a panel of analysts and guests. Our sponsored discussions provide a unique, deep-dive focus on specific industry problems and the latest solutions.
This podcast equivalent of an analyst briefing session -- made available as a podcast/transcript/blog to any interested viewer and search engine seeker -- breaks the mold on closed knowledge. These informational podcasts jump-start conversational evangelism, drive traffic to lead generation campaigns, and produce strong SEO returns. Interarbor Solutions provides fresh and creative thinking on IT, SOA, cloud and social media strategies based on the power of thoughtful content, made freely and easily available to proactive seekers of insights and information.
As a result, marketers and branding professionals can communicate inexpensively with self-qualifiying readers/listeners in discreet market segments. BriefingsDirect podcasts hosted by Dana Gardner: Full turnkey planning, moderatiing, producing, hosting, and distribution via blogs and IT media partners of essential IT knowledge and understanding.
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