SAP Ariba confirms joint venture with Standard Chartered Bank

The leader in global Spend Management, SAP Ariba, has announced a strategic collaboration with Standard Chartered Bank to digitalise its supply chain.

Revealed at the SAP Ariba LIVE event in Singapore earlier this week, the alliance will enable the bank’s financial supply chain solutions to become more accessible to businesses in the Asia Pacific region through the software giant's Ariba Network.

Connecting over 4.2mn companies in 190 countries, the Ariba Network allows buyers to seamlessly manage their payments and supply chain finance needs in alignment with the SAP Ariba digital platform. The partnership of Standard Chartered and SAP Ariba is hoped to improve efficiency, transparency and accuracy for both buyers and suppliers.

SEE ALSO:

• Procurement Focus: SAP Ariba - The Spend Management Network

• SAP Ariba partners with Tokyo Shoko Research to manage risks to 8.4mn Japanese companies

• SAP Ariba: What can progressive rock teach us about digital networks?

• Read the latest issue of Supply Chain Digital here!

“Our goal is to make life easier for our clients and their ecosystems, and as their businesses evolve, so do we,” said Lisa Robins, 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.”

“Customers expect the procure-to-pay process to be easy, efficient, comprehensive and seamless, and rightly so,” added Sean Thompson, senior vice president, Business Network and Ecosystem, SAP Ariba and SAP Fieldglass. “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.”

Standard Chartered and SAP Ariba are committed to supporting sustainable economic growth and ensuring financing becomes more accessible to companies by connecting business communities and facilitating commerce worldwide. This collaboration signifies both companies ambition to driving change and its drive to implement change in the supply chain space.