SAP Ariba and American Express have announced the launch of a partnership to offer buyers and suppliers new payment and financing options in the Ariba Network. The collaboration should include better visibility and control and improved security.
American Express will use Ariba Network APIs to make its virtual Card capabilities available within the SAP Ariba process and platform. The aim is to offer seamless commerce, secure payments and easy coordination between companies on a single platform.
With the new integration – which will be available later this year – companies will have the opportunity to use their existing American Express Corporate Cards to generate virtual Card payments. This should make it easier for customers to get started without having to set up and maintain a separate account.
Users also get more control with the virtual card, because they have the option to set the amount and timing of each payment. This can be done by a token-based virtual access and user controls. In addition, according to the two companies, users have improved working capital to manage the money conversion cycles, and better alignment through increased payment status visibility and data improvements.
The system also comes with advantages for companies. This way they would be paid faster because of the seamless process for buyers. There are also improved collections with less risk of fraud, because of the token-based virtual access controls. And coordination should be improved through detailed transfer information from the virtual map.
“We are constantly looking for ways for our customers to do business in a simple, intuitive and integrated way,” said E-Bai Koo, executive vice president of Global Commercial Services at American Express. “Since more than half of American Express’ largest global customers already use SAP Ariba to manage their expenses, this partnership has the potential to deliver significant value to our mutual customers.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.