Company to Offer Bank-Neutral Financing Through Ariba Supplier Network to Help Companies Optimize Working Capital and Minimize Risk
SUNNYVALE, Calif.--Ariba, Inc. (Nasdaq:ARBA), the leading spend management solutions provider, today announced that it will team with Orbian, a pioneer in supply chain financing, to provide access to Orbian’s third-party financing for members of Ariba® Supplier Network™. The bank-neutral financing solutions will help buyers and suppliers who use the network optimize their working capital and minimize risk.
“To compete and win in today’s global economy, companies must invest in creating a supply chain that is not only competitive, but cost and risk advantaged,” said Bob Solomon, Senior Vice President, Growing Enterprise Business, Ariba. “By joining forces with Orbian, Ariba will help buyers and suppliers optimize working capital, lower overall costs, reduce risk, and ultimately, create stronger relationships with key trading partners.”
A leading provider of cost-effective receivables financing for buyers and suppliers, Orbian’s solutions enable a supplier to leverage the buyer’s cost of capital to significantly reduce financing costs in the supply chain relative to traditional bank and card offerings. Orbian solutions help foster a collaborative environment where buyers and suppliers are better positioned to achieve their own working capital goals through improved terms of trade. Through its agreement with Ariba, Orbian will offer its solutions to all buyers and suppliers using Ariba Supplier Network, including those using non-Ariba procurement systems.
“At Orbian, we are focused on delivering access to capital that is critical for success in today's competitive market," said Ken Roche, CEO, Orbian. “Through our collaboration with Ariba, we can help buyers leverage the Ariba Supplier Network to further lower their supply chain costs. By providing low cost receivables financing and certainty of payment timing and amount to suppliers, buyers are able to achieve cost savings or better trade terms. Additionally, suppliers generate incremental free cash flow, improving their DSO metrics and capital efficiency, by gaining access to the entire value of the receivable at a low cost.”
Ariba Supplier Network is the world’s leading business collaboration platform, which combines technology and services to better match buyers and suppliers, automate transactions and payment workflows. Buyers and suppliers in 115 countries leverage the network to engage in transactions worth more than $95 billion a year and process one purchase order every two seconds. With the addition of bank-neutral financing, buyers and suppliers will have access to a complete set of solutions they can leverage to enhance their trading relationships and ultimately, improve their competitive advantage.
About Orbian
Orbian is the world’s leading supply chain payments processing and financing company, combining leading edge technology with a proprietary capital markets funding capability. Orbian currently provides 19 Fortune 500 companies and over 1600 of their suppliers with substantial cash flow benefits, low cost finance and enhanced supply chain management. They are “Trading On Better Terms”. Additional information about the company is available at www.orbian.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™ software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com.
