Tuesday, September 17, 2019

Standard Chartered joins with SAP Ariba in supply and finance pact

Aug 21. 2019
Photo by China Daily
Photo by China Daily
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By The Nation

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Standard Chartered Bank and SAP Ariba on Wednesday announced a strategic collaboration to make the bank’s financial supply chain solutions easily accessible to businesses in the Asia

Pacific region through Ariba Network, the world’s largest digital business network that connects more than 4.2 million companies in 190 countries.

By the end of 2019, buyers using Ariba Network will be able to seamlessly manage their payments and supply chain finance needs with the SAP Ariba digital platform, while suppliers will get quicker access to financing and foreign exchange via Standard Chartered's global network, according to a release on Wednesday.

The collaboration is intended to accelerate the digitalisation of the entire supply chain, improving efficiency, transparency and accuracy for buyers and suppliers alike.

Working across some of the world’s most dynamic trade corridors, Standard Chartered and SAP Ariba are committed to supporting sustainable economic growth and making financing more accessible to companies by connecting business communities and facilitating increased commerce across the globe.

“Our goal is to make life easier for our clients and their ecosystems, and as their businesses evolve, so do we,” said Lisa Robins, the global head of transaction banking at Standard Chartered. “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.”

Sean Thompson , senior vice president for business network and ecosystem at SAP Ariba and SAP Fieldglass, said, “Customers expect the procure-to-pay process to be easy, efficient, comprehensive and seamless, and rightly so.

“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.”

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