American Express and SAP Ariba join forces on the procure-to-pay process
American Express and SAP Ariba have announced that they have entered into a strategic multi-phased partnership designed to offer buyers and suppliers new payment and financing options on Ariba Network, extending its value for joint large and global customers.
As a network extension partner, American Express will leverage Ariba Network APIs to enable its virtual card capabilities within the SAP Ariba process and platform to facilitate seamless commerce, secure payments, and reconciliation between businesses on a single platform. Through this integration, available later this year, businesses will have the opportunity to use their existing American Express Corporate Cards to generate virtual card payments, making it simple for customers to get started without the need to set up and maintain a separate standalone account.
The two companies say that benefits for buyers will include:
- Improved operational efficiencies by eliminating the need to handle payments as a separate standalone process.
- Increased control by having the ability to set a payment amount and timing of each payment, as a result of token-based virtual access and usage controls.
- Improved working capital to manage cash conversion cycles.
- Improved reconciliation by providing greater payment status visibility and data enhancements.
For suppliers, this partnership offers the following:
- Increased speed of payment as a result of a more seamless process for buyers.
- Improved collections with reduced risk of fraud, as a result of token-based virtual access controls.
- Improved reconciliation through detailed virtual card remittance information.
American Express and SAP Ariba plan to continue to provide additional digital solutions through this strategic partnership.