Thursday 21st January, 2016

Following on from our report back in April, SAP have joined forces with First Data and announced plans to extend the AribaPay solution across Europe and Latin America. AribaPay is an innovative electronic payment solution delivered through the Ariba Network and enables companies of all sizes to complete B2B payments with the same simplicity, reliability and security as consumers.

APN caught up with Drew Hofler, Senior Director Marketing at Ariba who pointed out that B2B Payment in EMEA is somewhat different and arguably more advanced than in the US. Paper cheques are a thing of the past and bank account information is more secure or considered less sensitive. However, those are tactical considerations. More strategic and core to B2B payment is being able to incorporate the comprehensive set of information that is native to the P2P process leading up to the final settlement action.

And in this regard, Hofler stated that Europe is still stuck in the past.  In the B2B context, payment needs to be fully integrated into the P2P process, with the ability to connect payments to a PO’s invoices along with adjustments and comments that precede the settlement of funds.

In teaming with First Data we can leverage their extensive reach and ability to securely settle funds in multiple jurisdictions to help companies across Europe to do just this.

It’s all part of our strategy to make the management of the financial supply chain simple.

Using the service, buyers and sellers can:

• Exchange purchase orders, invoices and payments — all in a fast, secure, electronic environment
• Lower processing costs
• Receive richer remittance advice
• Reduce fraud risk
• Track and trace transactions
• Speed reconciliation and dispute resolution

In joining forces with First Data – a global leader in commerce-enabling technology and solutions – to bring AribaPay to Europe and Latin America, SAP intends not only to help companies digitise payments but also to fuel a simpler, more efficient and more effective reconciliation process that creates real business value across the enterprise.

"Trillions of dollars in transactions around the world run through First Data and our Ariba Network,” said Bill McDermott, CEO, SAP. "I’m very proud to stand with Frank Bisignano and his team at First Data to fundamentally transform the way commerce is conducted between companies with AribaPay. Together we’re committed to bringing speed, transparency and simplicity to unleash the full promise of business networks in the digital economy."