Ariba Enhances Smart Invoicing Capabilities

SUNNYVALE, Calif. --(BUSINESS WIRE)--With the fate of the global economy still uncertain, companies have made managing cash and working capital job number one. And Ariba, Inc. (Nasdaq: ARBA) is arming them with the tools they need to do it with the latest release of its collaborative commerce platform. Designed to enhance the company’s smart invoicing capabilities, new features within the release enable organizations to further streamline global invoice processing, support complex compliance requirements, and improve business commerce collaboration.

“Implementing an electronic invoicing process has allowed OfficeMax and its customers to reduce purchase order and invoice processing errors”

“Accounts Payable (AP) teams spend inordinate amounts of time and effort processing paper invoices. To address this problem, many companies have implemented solutions to digitize them. But with one in five invoices still containing an overcharge or other error, it’s clear that digitization only leads to bad invoices being delivered faster,” said James Tucker, Director of Marketing, Invoice and Payment Solutions, Ariba. “With the enhancements to the Ariba® Invoice Management™ suite of solutions, companies around the world can execute a smart invoicing process that provides full visibility and control, improves compliance, and automates reconciliation, eliminating errors and rework so that only accurate invoices reach AP.”

Streamlined Invoice Processing

Delivered on-demand via the Ariba Network, Ariba’s Invoice Management™ solution features smart invoicing capabilities, where e-invoices undergo an automated validation process upon supplier submission. This smart validation eliminates errors and rework so only accurate and approved invoices reach AP. Validated invoices are then posted directly to ERP systems for on-time payment and discount capture.

“A unique strength of on-demand and cloud solutions is the integration and validation at the business process level, of pulling together many disparate elements of a process -- but with the proper governance along the way,” said Dana Gardner, Principal Analyst, Interarbor Solutions. “Managed automation across all the elements of the process makes invoicing work far better. And it leads to even further benefits up and down the supply chain and procurement lifecycles.”

By putting a smart invoicing process in place, companies can: