Wiley Maximizes Savings, Minimizes Risk with Ariba
Publisher boosts savings and ROI through cloud-based discount management applications and services delivered on Ariba Network, will discuss innovative approach at Ariba LIVE
SUNNYVALE, Calif., April 23, 2013 –Cash is King. And for most companies, the objective is clear: hold onto it for as long as possible without creating risk while generating significant returns. But delivering on it hasn’t been easy. In fact, it’s been downright puzzling - until now. With the help of Ariba, an SAP Company, companies around the world are putting together the pieces of a collaborative finance process that enables them to optimize their working capital, while ensuring that their suppliers remain financially strong. It’s called dynamic discounting. And next month, John Wiley & Sons, Inc. will discuss how they are leveraging cloud-based applications and services delivered on the Ariba® Network to drive it and boost savings and ROI within their organization. The company is among the featured speakers at Ariba LIVE, the business commerce event of the year, which will take place May 6-8 at the Gaylord National Resort and Conference Center in Washington, D.C.
“Companies have made great strides leveraging technology to automate key processes such as accounts payable and receivables, invoicing and payments,” says Drew Hofler, Senior Manager, Financial Solutions, Ariba. “But best-in-class organizations are taking things a step further, tapping business networks to enable new processes that are only possible at scale in a true networked environment - processes such as dynamic discounting that allow them to work more closely with their trading partners to mitigate short-term risk and position themselves for future growth.”
Using the discount management offerings delivered on the Ariba Network, for instance, companies can create a fully automated process for offering, negotiating, and agreeing on early payment terms that enable them to optimize their working capital and lower overall costs. Buyers can capture discounts at any point between invoice approval and the net due date and automatically present offers to lock them in. Suppliers can automatically accept offers or control the acceleration of payment on an ad-hoc basis according to their needs.
Delivered on the world’s largest and most global trading partner network, where over one million companies in 190 countries transact more than $460 billion in commerce on an annual basis, Ariba’s dynamic discounting solutions are fueling this new, more connected way of operating. And innovative companies like Wiley are embracing it.
“Wiley’s adoption of Ariba services is part of an enterprise-wide initiative to manage and leverage the purchase of products and services from third-party suppliers. As we reduce operating expense and the cost of sales to improve margins, profitability and accelerate earnings growth, there will be increased capacity for investment to grow our business,” said Andrew Richings, Strategic Sourcing and Procurement Operations Manager, John Wiley & Sons. “We believe the functionalities offered by Ariba’s applications and services, coupled with the ease of use, will enable us to achieve the results we want.”
Ariba’s discount management solutions combine market-leading technology that easily integrates with any ERP and services that actively drive supplier onboarding and discount participation with the world’s largest trading partner community to drive rapid ROI in the form of net new discount savings. Using the solutions, companies can:
- Save upwards of $2 million per $1 billion of targeted spend
- Achieve 95 percent discount capture rate
- Boost discount savings by 5x
- Improve Days Payable Outstanding on targeted spend by four days on average
- Raise average annual return on deployed short-term cash from <0.25% APR to 24%+ APR based on fed funds target rate
To learn more about the solutions and the value that they can deliver, visit: www.ariba.comTo gain insights from companies around the world who are using them, register today to attend Ariba LIVE at www.aribalive.com