Aribapay heads north
Palo alto, calif.--(business wire)--on the heels of a successful launch in the united states and recently announced plans to expand into europe and latin america, ariba®pay™ is heading north. sap ariba, and its longstanding partner discover financial services (nyse: dfs), today announced that they are completing the process for rolling out the revolutionary b2b payments service in canada, enabling buyers and sellers to settle funds with greater speed and accuracy than ever before. the solution will be on display next week at sap ariba live, the premier business commerce event set to take place march 14-16 at the cosmopolitan of las vegas. canadian businesses and consumers pass about four million cheques per day. for buyers, that means lots of paper and inefficiencies that cost their companies billions each year. for sellers, it means little visibility into when they will actually be paid, and what they are being paid for making it difficult to effectively manage cash and reconcile payments. it’s a vexing problem on both sides of the equation. and one that sap ariba and discover are uniquely positioned to help companies solve. “by automating billing and settlement and digitizing the “pay” in procure-to-pay, aribapay brings the same simplicity to b2b payments that consumers enjoy and effectively changes the game by enabling companies to drive a more efficient, effective process that creates benefits for all parties,” said phil beck, general manager, aribapay. adds diane offereins, president of payment services at discover, “discover’s trusted payments infrastructure enhances the innovation that aribapay is bringing to canadian businesses by offering a layer of flexibility and security to buyers and sellers who need fast and accurate settlement and reconciliation for business payments.” identified as the most disruptive and best b2b innovation, aribapay has been used to process more than $40 billion in payments since its launch in july 2014. and companies around the world continue to embrace it. "an efficient payment process can be a gateway to substantial savings and working capital flexibility," said andrew bartolini, chief research officer, ardent partners. "and we see an increasing number of companies interested in solutions that can help fuel a simple, automated, and transparent approach -- all things that provide value to buyers and suppliers alike." to learn more about aribapay and the value it can deliver, visit www.aribapay.com. about sap ariba sap ariba is the world’s business commerce network. sap ariba combines industry-leading cloud-based applications with the world's largest internet-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 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 are intended to identify such forward-looking statements. sap undertakes 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. the factors that could affect sap's future financial results are discussed more fully in sap's filings with the u.s. securities and exchange commission ("sec"), including sap's most recent annual report on form 20-f filed with the sec. readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. © 2016 sap se. all rights reserved. sap and other sap products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of sap se in germany and other countries. please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.
