Barclaycard is a leading global payment business that helps consumers, retailers, and businesses to make and take payments flexibly. In addition to SAP Ariba, Barclaycard partners with a range of other organizations across the globe to deliver the next evolution in payments and procurement.
The partnership with SAP Ariba will see Barclaycard integrate its award-winning, business-to-business (B2B) payment product, Precisionpay, into SAP Ariba solutions.
With Precisionpay Bank Transfer, buyers will be able to pay suppliers much earlier in the procurement cycle, improving supplier relationships and allowing them to take advantage of any prompt payment discounts. Buyers could also benefit from access to flexible working capital. Instead of having to pay the supplier directly, Barclaycard could fund the payment, and then the buyer would typically have up to 56 days to pay the balance. From the supplier’s perspective, prompt payment improves cash flow, making the business more resilient.
In addition, customers of SAP Ariba solutions who use Precisionpay will benefit from access to data-led procurement insights powered by the powerful cloud solutions from SAP: SAP Cloud Platform and the SAP Analytics Cloud solution. These insights will help users make smarter payment and procurement decisions, with minimal impact or change to their own internal technical footprint.
Partnership Type: Financial Ecosystem Partner
Expertise Areas: Spend analysis; Working capital management
Industries served: All