Goldman Sachs Transaction Banking is building a modern, digital-first, and cloud-based business to help clients build the future of their treasury. The digital solutions include liquidity management and payments with real-time data and analytics. The business combines the strength, heritage, and expertise of a 150-year-old firm with the agility and entrepreneurial spirit of a tech start-up.
SAP Ariba has partnered with Goldman Sachs to provide cross-border payment solutions to our customers on Ariba Network. Goldman Sachs’ tech-forward and secure cross-border global payments capabilities will make it simpler and less costly for buyers to pay foreign suppliers in local currencies.
Benefits for buyers and suppliers
Streamlined process for paying foreign suppliers in local currencies at lower cost with competitive foreign exchange rates
Improved operational efficiency through easier reconciliation of payments to corresponding invoices
Real-time payment tracking, reducing payment-related supplier inquiries
Cost transparency on bank fees
Optimized payment routing offered by Goldman Sachs’ advanced machine-learning techniques
Reduced risk as a result of improved visibility and control over foreign exchange payments and currency exposures for stakeholders in procurement and treasury
Improved buyer-supplier relations with transactions conducted in each party’s preferred currency with minimal change management required
Partnership type: Financial Ecosystem Partner
Regions served: Available to customers based in North America and Europe, Middle East, and Africa (EMEA), who can initiate the payments for suppliers anywhere in the world.
Industries served: All