Ariba is the world’s largest digital business network, connecting more than 4.2 million companies in 190 countries, while Standard Chartered is has a presence in 60 of the world’s most dynamic markets.
As a result of the partnership, by the end of this year, buyers using Ariba Network will be able to manage their payments and supply chain finance needs with the SAP Ariba digital platform. Also, suppliers will be able to receive faster access to financing and foreign exchange via Standard Chartered’s global network. The collaboration aims to boost efficiency, transparency and accuracy for buyers and suppliers.
“Our goal is to make life easier for our clients and their ecosystems, and as their businesses evolve, so do we,” Lisa Robins, global head of transaction banking at Standard Chartered, said in an emailed press release. “We are delighted to collaborate with SAP Ariba to support our clients throughout their procure-to-pay lifecycles and beyond. As we embrace open banking, we connect communities across our footprint and provide access to integrated solutions that enable our clients to grow their businesses sustainably.”
“Customers expect the procure-to-pay process to be easy, efficient, comprehensive and seamless and rightly so,” added Sean Thompson, senior vice president, business network and ecosystem, SAP Ariba and SAP Fieldglass. “We are thrilled to welcome Standard Chartered into
our ever-expanding ecosystem to deliver financing options that enhance value for our customers, allowing them to complete the procure-to-pay process end-to-end on a single platform.”
This is the second recent agreement for SAP Ariba, which announced last month that it had signed a deal with Tokyo Shoko Research, a Japan-based commercial database, to strengthen its supply-chain risk mitigation offerings.