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Ariba Adds GE vPayment Tool to Ariba Supplier Network; Settlement Option Enables Ariba Buyer Customers to Increase Visibility and Control Over Supplier PaymentsSUNNYVALE, Calif., & SALT LAKE CITY --(Business Wire)-- April 26, 2005 -- Ariba(R), Inc. (Nasdaq: ARBA), the leading spend management solutions provider, has integrated vPayment, an electronic settlement tool, into the Ariba(R) Supplier Network(TM). The new payment option, supported by GE's Corporate Payment Services unit, will enable Ariba Buyer customers to further automate, expedite and control their spend management processes. The integration will also help customers reduce processing time and costs, and maximize collaboration with a global network of trading partners. "This interface fits well with Ariba's end-to-end spend management approach," said Jeffery R. Dye, president and CEO of GE Corporate Payment Services. "vPayment will prove attractive to Ariba customers because it offers financial incentives similar to purchasing cards, but it delivers more capabilities for control and data capture." The vPayment integration delivers several other spend management benefits, including: -- Speed - vPayment offers rapid and simple implementation. It follows the standard MasterCard(R) settlement process and can shorten the order-to-payment cycle. -- Coverage - vPayment is accepted by more than 23 million suppliers worldwide, making it an effective solution for a diverse supplier base. Suppliers looking for an alternative to checks can be paid through vPayment. It also includes online maintenance/reporting tools and toll-free support. -- Sustainability - vPayment increases accuracy of payment data and reduces manual processes through automation, for example eliminating paper checks. "The Ariba Supplier Network is currently serving more than 110,000 members who transact more than $70 billion in purchase orders annually through the network," said Bob Solomon, General Manager, Ariba Supplier Network. "By enabling this feature, we have given our customers the means to take advantage of vPayment through an established interface for buyers and suppliers." About Ariba, Inc. Ariba, Inc. is the leading provider of spend management solutions. Ariba helps companies realize rapid and sustainable bottom-line results. Successful companies around the world in every industry use Ariba Spend Management software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com. About GE Corporate Payment Services Corporate Payment Services, the commercial card unit of GE Consumer Finance, develops and markets corporate bank cards and e-settlement tools designed for small-, medium- and large-sized companies and organizations. Cards are issued by GE Capital Financial Inc. For more information, visit www.gebusinessmarketplace.com/int_vpayment.htm. GE Consumer Finance, a unit of General Electric Company, with more than $151 billion in assets, is a leading provider of credit services to consumers, retailers and auto dealers in 41 countries around the world. GE Consumer Finance, based in Stamford, Conn. (USA), offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.geconsumerfinance.com. GE (NYSE: GE) is a diversified financial services, media and technology company dedicated to creating products that make life better. More information about GE can be found online at www.ge.com. Copyright (C) 1996 - 2005 Ariba, Inc. Ariba and the Ariba logo 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 Sourcing, Ariba Invoice, Ariba Travel & Expense, Ariba Workforce, Ariba Supplier Network, Ariba Supplier Performance Management, Ariba PunchOut, Ariba QuickSource, PO-Flip, Ariba Settlement and Ariba Spend Management Knowledge Base are trademarks or service marks of Ariba, Inc. Ariba Proprietary and Confidential. All rights reserved. Patents pending. 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 its 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; 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. For example, Ariba recently settled patent infringement filed against it by ePlus, Inc. for $37.0 million and incurred significant related legal expenses. 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 filed December 14, 2004 and in its Form 10-Q filed February 9, 2005. |
