With the lingering global economic malaise, companies must
diligently manage their spend and optimize cash flow in order to
maintain their competitive position. According to a new study from CFO
Research Services, implementing technology and best practices to
streamline the accounts payable process can help by driving cost
savings and efficiencies that enable businesses to preserve their
margins, minimize risk and improve liquidity. On April 17, Ariba, Inc.
(Nasdaq:ARBA), the leading spend management solutions provider, will
host a webinar featuring CFO Research Services, to discuss the
findings of the study in depth. The interactive session will be held
from 2 PM to 3 PM ET.
"There is no single magic bullet that will reduce costs, increase
efficiency and eliminate risk in accounts payable," said Celina
Rogers, Associate Director of Research, CFO Research Services, "but
senior finance executives in this study say that streamlined business
processes, paired with improved systems for transaction processing,
are the foundation for successful AP improvement efforts."
In February 2008, CFO Research Services launched Paths to
Improvements in Accounts Payable: The View From Finance, a survey of
senior finance executives at companies throughout North America.
Sponsored by Ariba, the research sought to explore finance executives´
interests, problems and plans in the management of accounts payable
and understand the paths they are pursuing to drive improvements.
Among the key findings:
-- Activities that contribute directly to the bottom line -- cost
management and decision support -- are top priorities in
finance.
-- Reducing the cost, improving the efficiency and increasing
control over the accounts payable process are key targets for
improvements.
-- Technology and process enhancements are viewed as the best way
to achieve these improvements.
Of the finance executives polled by CFO Research Services, 62
percent indicated that the information they receive from accounts
payable is often insufficient to support decision making. Further, a
substantial number of respondents believe there is room for
improvement in several critical areas, including securing discounts
from vendors by documenting early payments, extracting maximum value
from negotiated contract terms and contributing to working capital
management efforts by effectively managing says payable outstanding,
among other things.
"With the right combination of technology and best practice
processes, companies can refine reporting, control and communications
in accounts payable and ultimately, free up working capital and
realize hard dollar savings," said Drew Hofler, Senior Manager,
Financial Solutions, Ariba.
Recently named "Best Electronic Invoice Presentment and Payment
Services Provider" by Global Finance Magazine, Ariba provides a
comprehensive range of on-demand spend management solutions that
enable large and growing enterprises to develop and implement a highly
integrated cash management strategy while improving the efficiency of
the entire procure-to-pay cycle. Ariba´s Invoice Professional(TM)
On-Demand solution and the Ariba(R) Supplier Network(TM) effectively
enable companies to optimize their invoicing and reconciliation
processes to achieve straight through processing and generate
measurable and sustainable results.
"The battle to control costs is ongoing and must be fought on many
fronts," Hofler said. "With the right solutions and processes in
place, companies of all types and sizes can drive meaningful
improvements in the accounts payable process that support their
overall business objectives and positively impact their bottom lines."
To hear more about the CFO Research Services study, register today
for the April 17 webinar at:
www.financialexecutives.org/eweb/DynamicPage.aspx?Site=_fei&webcode=ev
t_basic_detail&rEg_evt_key=38671a73-0747-4e10-aeaf-f8f33e946f1f&PAYING
=Fees (Due to its length, this URL may need to be copied/pasted into
your Internet browser´s address field. Remove the extra space if one
exists.)
Participants in the session will receive a free copy of the full
report.
To learn more about Ariba´s invoice and payment solutions and the
benefits they are delivering to companies around the world, visit:
www.ariba.com/explore/index.cfm?templID=9
About Ariba, Inc.
Ariba, Inc. is the leading provider of spend management solutions
to help companies realize rapid and sustainable bottom line results.
Successful companies around the world in every industry use Ariba
Spend Management(TM) software and services. Ariba can be contacted in
the U.S. at 1.650.390.1000 or at www.ariba.com.
Copyright (C) 1996 - 2008 Ariba, Inc.
Ariba, the Ariba logo, AribaLIVE and SupplyWatch are registered
trademarks of Ariba, Inc. Ariba Spend Management, Ariba Spend
Management. Find it. Get it. Keep it., Ariba. This is Spend
Management, Ariba Solutions Delivery, Ariba Analysis, Ariba Buyer,
Ariba Category Management, Ariba Category Procurement, Ariba Contract
Compliance, Ariba Contracts, Ariba Contract Management, Ariba Contract
Workbench, Ariba Data Enrichment, Ariba eForms, Ariba Electronic
Invoice Presentment and Payment, Ariba Invoice, Ariba Sourcing, Ariba
Spend Visibility, Ariba Travel and Expense, Ariba Procure-to-Pay,
Ariba Workforce, Ariba Supplier Network, Ariba Supplier Connectivity,
Ariba Supplier Performance Management, Ariba PunchOut, Ariba
QuickSource, PO-Flip, Ariba Settlement, Ariba Spend Management
Knowledge Base, Ariba Ready, Ariba Supply Lines, Ariba Supply Manager,
Ariba LIVE and It´s Time for Spend Management are trademarks or
service marks of Ariba, Inc. All other trademarks are property of
their respective owners.
Ariba Safe Harbor
Safe Harbor Statement under the Private Securities Litigation
Reform Act 1995: Information and announcements in this release involve
Ariba´s expectations, beliefs, hopes, plans, intentions or strategies
regarding the future and are forward-looking statements that involve
risks and uncertainties. All forward-looking statements included in
this release are based upon information available to Ariba as of the
date of the release, and we assume no obligation to update any such
forward-looking statements. These statements are not guarantees of
future performance and actual results could differ materially from our
current expectations. Factors that could cause or contribute to
Ariba´s operating and financial results to differ materially from
current expectations include, but are not limited to: delays in
development or shipment of new versions of Ariba´s products and
services; lack of market acceptance of Ariba´s existing or future
products or services; inability to continue to develop competitive new
products and services on a timely basis; introduction of new products
or services by major competitors; the ability to attract and retain
qualified employees; difficulties in assimilating acquired companies,
including Procuri which Ariba acquired on December 17, 2007; long and
unpredictable sales cycles and the deferrals of anticipated orders;
declining economic conditions; inability to control costs; changes in
the company´s pricing or compensation policies; significant
fluctuations in our stock price; the outcome of and costs associated
with pending or potential future regulatory or legal proceedings; the
impact of our acquisitions, including the disruption or loss of
customer, business partner, supplier or employee relationships; and
the level of costs and expenses incurred by Ariba as a result of such
transactions. Factors and risks associated with its business,
including a number of the factors and risks described above, are
discussed in Ariba´s Form 10-Q filed with the SEC on February 6, 2008.
