Like many suppliers, Arlington Computer Products used to invoice its customers, then wait and wonder when – and how much – they would be paid. Then the company learned of AribaPay. Unveiled last year by Ariba, an SAP Company, and Discover Financial Services (NYSE: DFS), the direct banking and payment services leader, AribaPay is a cloud-based B2B payments solution designed to provide better visibility into business payments and produce rich remittance information to improve the reconciliation processes. After participating in an early access program and completing the first payments using the service, Arlington Computer Products says AribaPay more than delivers on its promise. The news was announced during AribaLIVE, the premier business commerce event being held this week at the Cosmopolitan of Las Vegas.
“Before AribaPay, we would essentially send invoices into a black hole and spend countless hours managing and chasing them to figure out when we might see a payment,” said Arly Guenther, CEO, Arlington Computer Products. “With AribaPay, we know exactly where things stand from the time we hit send. The ‘track and trace’ element gives us a great view on where the payment stands at any point in time. And with the elimination of paper documents and the real-time remittance information that accompanies our electronic payments, we can reconcile things faster and more effectively manage our cash. I look forward to more of our customers using this service.”
A fully integrated, end-to-end solution, AribaPay completes the procure-to-pay cycle embedded in the Ariba Network by integrating it into Discover’s trusted global payments infrastructure to effect payments at maturity.
“B2B commerce is fast becoming a landscape that captures the procure-to-pay process and monetizes the transactions involved,” said Heather Ashton, research manager, IDC Manufacturing Insights. “B2B commerce network operators are promising companies visibility and tighter control of cash flow, providing them with the critical financial services link in exchange for tying the companies to a network.”