AribaPay Reaches Milestone

Ariba, an SAP company, recently announced that more than $1 billion (USD) in payments have been made to nearly 1,300 suppliers, as more and more companies seek to improve the speed and accuracy of business-to-business (B2B) payments. Launched for general availability in July 2014 (after having spent some time at beta customers) by Ariba and Discover Financial Services, AribaPay combines the insights and information-sharing capability of the Ariba Network trading community with Discover’s global payments infrastructure to automate and digitize billing and settlement processes.
 
Customers are reportedly reaping the benefits of increased billing and settlement process automation, including data-rich transactions that drive transparency and enhance the procure-to-pay (P2P) process speed. For example, AribaPay customers no longer have to spend an inordinate amount of time on guesswork about which invoices are still outstanding and why. Even more, when an invoice has been paid, users are not only automatically notified, but can also receive detailed data at the invoice and line-item level, which results in faster and more accurate reconciliation.