SAP Ariba and American Express Team to Streamline Purchase Reconciliation and Compliance
Co-innovation creates simple, smart, fast way for corporate buyers to reconcile purchases using Ariba Spot Buy and American Express
NEW YORK, NY, March 14, 2016 – SAP Ariba and American Express today announced that they are working together to reduce the complexity in the B2B procurement process. Businesses may currently face challenges in staying compliant with their companies’ procurement process to purchase, expense and reconcile items that are outside of their usual B2B spending patterns—for example, one-time or emergency purchases such as an ergonomic chair for a new employee, a particular brand of laptop docking station, or a prop for a presentation.
To help solve this problem, American Express and SAP Ariba will bring together digital financial services expertise from American Express and global procurement expertise from SAP Ariba to simplify the accounts payable processes and financial statement reconciliation. American Express and SAP Ariba will automatically match transaction data on American Express commercial accounts to purchase order data from Ariba Spot Buy, enabling businesses to reconcile purchases with greater simplicity, speed and accuracy.
Ariba® Spot Buy™ enables businesses to find and immediately buy these non-contracted items in accordance with their procurement policies and procedures. Ariba Spot Buy is available to all American Express Global Corporate Payments customers who are using Ariba Procurement Software in the U.S.
“Visibility and control of supplier payments is a top concern raised by companies looking to gain predictability of cash flow and working capital needs to efficiently operate their business,” said David Desharnais, SVP and General Manager, B2B Digital and Commercial Platforms, American Express. “Together with SAP Ariba, we intend to co-innovate on future initiatives to improve the business processes for our joint customers.”
“To effectively manage company spend, procurement departments need a clear view into what is being bought and from whom, especially on spend that is off-contract. Off-contract spend can cost our customers as much as $9m per $1b in spend. And to accurately reconcile purchases, accounts payable (AP) teams need to know that order and transaction information match,” said Joe Fox, Senior Vice President, Business Development and Strategy, SAP Ariba. “In teaming with American Express, we can deliver these insights and effectively change the game for our customers.”
American Express® Corporate customers interested in Ariba Spot Buy can contact their client representative for more details.
About SAP Ariba
SAP Ariba is the world’s business commerce network. SAP Ariba combines industry-leading cloud-based applications with the world's largest Internet-based trading community to help companies discover and collaborate with a global network of partners. Using the Ariba® Network, businesses of all sizes can connect to their trading partners anywhere, at any time from any application or device to buy, sell and manage their cash more efficiently and effectively than ever before. Companies around the world use the Ariba Network to simplify inter-enterprise commerce and enhance the results that they deliver. Join them at: www.ariba.com
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About American Express Global Corporate Payments
Through its Global Corporate Payments division, American Express offers a suite of B2B and T&E payment solutions that help organizations streamline processes and transform them into opportunities for savings, control and efficiency. American Express can help your organization increase working capital flexibility and strengthen relationships with suppliers. For more information, visit business.americanexpress.com/us/ and linkedin.com/company/american-express-global-corporate-payments.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
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