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Ariba Named Best Electronic Invoice Presentment and Payment Services Provider
SUNNYVALE, Calif. --(Business Wire)-- Ariba, Inc. (Nasdaq:ARBA), the leading spend management solutions provider, today announced that it has again been recognized as "Best Electronic Invoice Presentment and Payment Services Provider" by Global Finance Magazine. For the second time in two years, Ariba has claimed the top spot in the publication's annual ranking of the World's Best Treasury and Cash Management Providers. Ariba was selected on the basis of its market leadership, superior customer service, competitive pricing and innovative technology.
"In today's volatile global economy, treasurers need access to tools and process that allow them to maximize their capital," said Global Finance Magazine publisher Joseph D. Giarraputo. "Our awards are designed to identify providers of solutions that improve transaction processes to speed collections, reduce risks and help finance executives achieve this goal."
Ariba provides a comprehensive range of on-demand spend management solutions that enable large and growing enterprises to develop and implement a highly integrated cash management strategy while improving the efficiency of the entire procure-to-pay cycle. Ariba's Invoice Professional(TM) On-Demand solution and the Ariba Supplier Network(TM) effectively enable companies to optimize their invoicing and reconciliation processes to achieve straight through processing and generate measurable and sustainable results, including:
-- Reduction of paper invoicing volume by more than 60 percent.
-- Decrease in PO-Invoice error rates by over 50 percent.
-- Trimming of invoice & payment cycle times by 75 percent.
-- Capture of negotiated and early-pay discounts otherwise lost to manual processes.
-- Bulk enablement of several thousand suppliers in months rather than years.
A robust and flexible offering that can be quickly deployed and easily configured to meet unique business needs and processes, Ariba Invoice Professional On-Demand provides comprehensive receipt, validation, matching, payment and reconciliation capabilities that enable Accounts Payable organizations of all sizes to eliminate the inefficiencies of enabling suppliers, expand the breadth of supplier performance and align cash management needs with accounts payable practices.
With more than 160,000 registered suppliers in 115 countries engaging in transactions worth more than $100 billion a year, the Ariba Supplier Network is one of world's largest open business transaction networks. Leveraging the network, companies can automate interactions with key trading partners to achieve efficiency and accuracy throughout the procure-to-pay cycle. Through Ariba Supplier Connectivity(TM), companies using ERP systems can seamlessly connect to the network and reap the benefits that it provides.
"While ERP systems and EDI have made Accounts Payable more efficient over the years, they have not done enough to help companies improve performance by reducing paper handling, eliminating errors at the source and enabling low-cost, external connectivity with all suppliers," said Drew Hofler, Senior Manager, Financial Solutions, Ariba. "With Ariba's Invoice and Payment solutions, companies have access to market leading technology embedded with industry best practices and a powerful trading network which they can leverage to streamline and enhance the Accounts Payable function and deliver immediate, measurable and sustainable results."
For more information on Ariba Invoice and Payment solutions and the results they are delivering for companies around the world, please visit www.ariba.com.
About Ariba, Inc.
Ariba, Inc. is the leading provider of spend management solutions to help companies realize rapid and sustainable bottom line results. Successful companies around the world in every industry use Ariba Spend Management(TM) software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com.
Copyright (C) 1996 - 2008 Ariba, Inc.
Ariba, the Ariba logo, AribaLIVE and SupplyWatch are registered trademarks of Ariba, Inc. Ariba Spend Management, Ariba Spend Management. Find it. Get it. Keep it., Ariba. This is Spend Management, Ariba Solutions Delivery, Ariba Analysis, Ariba Buyer, Ariba Category Management, Ariba Category Procurement, Ariba Contract Compliance, Ariba Contracts, Ariba Contract Management, Ariba Contract Workbench, Ariba Data Enrichment, Ariba eForms, Ariba Electronic Invoice Presentment and Payment, Ariba Invoice, Ariba Sourcing, Ariba Spend Visibility, Ariba Travel and Expense, Ariba Procure-to-Pay, Ariba Workforce, Ariba Supplier Network, Ariba Supplier Connectivity, Ariba Supplier Performance Management, Ariba PunchOut, Ariba QuickSource, PO-Flip, Ariba Settlement, Ariba Spend Management Knowledge Base, Ariba Ready, Ariba Supply Lines, Ariba Supply Manager, Ariba LIVE and It's Time for Spend Management are trademarks or service marks of Ariba, Inc. All other trademarks are property of their respective owners.
Ariba Safe Harbor
Safe Harbor Statement under the Private Securities Litigation Reform Act 1995: Information and announcements in this release involve Ariba's expectations, beliefs, hopes, plans, intentions or strategies regarding the future and are forward-looking statements that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Ariba as of the date of the release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to Ariba's operating and financial results to differ materially from current expectations include, but are not limited to: delays in development or shipment of new versions of Ariba's products and services; lack of market acceptance of Ariba's existing or future products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; the ability to attract and retain qualified employees; difficulties in assimilating acquired companies, including Procuri which Ariba acquired on December 17, 2007; long and unpredictable sales cycles and the deferrals of anticipated orders; declining economic conditions; inability to control costs; changes in the company's pricing or compensation policies; significant fluctuations in our stock price; the outcome of and costs associated with pending or potential future regulatory or legal proceedings; the impact of our acquisitions, including the disruption or loss of customer, business partner, supplier or employee relationships; and the level of costs and expenses incurred by Ariba as a result of such transactions. Factors and risks associated with its business, including a number of the factors and risks described above, are discussed in Ariba's Form 10-K for the year ended September 30, 2007.
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