Ariba Adds GE Payment Tool to Supplier Network

Settlement option to enable Ariba customers to increase visibility, control over supplier payments


Settlement option to enable Ariba customers to increase visibility, control over supplier payments

Sunnyvale, CA, and Salt Lake City, UT — April 26, 2005 — Ariba Inc., a spend management solutions provider, has integrated vPayment, an electronic settlement tool, into the Ariba Supplier Network. The new payment option, supported by GE's Corporate Payment Services unit, is expected to enable Ariba Buyer customers to further automate and control their spend management processes.

"This interface fits well with Ariba's end-to-end spend management approach," said Jeffery Dye, president and CEO of GE Corporate Payment Services. "vPayment offers financial incentives similar to purchasing cards, but it delivers more capabilities for control and data capture."

Ariba added that it decided on the vPayment integration because it offers rapid and simple implementation, it is accepted by more than 23 million suppliers worldwide, and it increases accuracy of payment data and reduces manual processes through automation, for example eliminating paper checks.

"The Ariba Supplier Network is currently serving more than 110,000 members who transact more than $70 billion in purchase orders annually through the network," said Bob Solomon, general manager, Ariba Supplier Network. "By enabling this feature, we have given our customers the means to take advantage of vPayment through an established interface for buyers and suppliers."

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