May 17, 2020

SAP Ariba confirms joint venture with Standard Chartered Bank

SAP Ariba
Standard Chartered Bank
Supply Chain
Digitalisation
Sean Galea-Pace
2 min
SAP Ariba confirms strategic collaboration 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...

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.

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“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.

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May 13, 2021

5 Minutes With: Jim Bureau, CEO Jaggaer

SupplyChain
Procurement
riskmanagement
JAGGAER
3 min
Jaggaer CEO Jim Bureau talks data, the power of procurement analytics, and supply chain risk management

What is data analytics, and why is it important for organisations to utilise?

Data analytics is the process of collecting, cleansing, transforming and analysing an organisation’s information to identify trends and extract meaningful insights to solve problems. 

The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions. Spend analysis and other advanced statistical analyses eliminate the guesswork and reactivity common with spreadsheets and other manual approaches and drive greater efficiency and value. 

As procurement continues to play a central role in organisational success, adopting analytics is critical for improving operations, meeting and achieving key performance indicators, reducing staff burnout, gaining valuable market intelligence and protecting the bottom line. 

How can organisations use procurement analytics to benefit their operations? 

Teams can leverage data analytics to tangibly improve performance across all procurement activities - identifying new savings opportunities, getting a consolidated view of spend, understanding the right time for contract re-negotiations, and which suppliers to tap when prioritising and segmenting suppliers, assessing and addressing supply chain risk and more. 

Procurement can ultimately create a more comprehensive sourcing process that invites more suppliers to the table and gets even more granular about cost drivers and other criteria. 

"The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions"


Procurement analytics can provide critical insight for spend management, category management, supplier contracts and negotiations, strategic sourcing, spend forecasting and more. Unilever, for example, used actionable insight from spend analysis to optimise spending, sourcing, and contract negotiations for an especially unpredictable industry such as transport and logistics. 

Whether a team needs to figure out ways to retain cash, further diversify its supply base, or deliver value on sustainability, innovation or diversity initiatives, analytics can help procurement deliver on organisational needs.

How is data analytics used in supply chain and procurement? 

Data analytics encompasses descriptive, diagnostic, predictive and prescriptive data. 

Descriptive shows what’s happened in the past, while diagnostic analytics surface answers to ‘why’ those previous events happened. 

This clear view into procurement operations and trends lays the groundwork for predictive analytics, which forecasts future events, and prescriptive analytics, which recommends the best actions for teams to take based on those predictions. 

Teams can leverage all four types of analytics to gain visibility across the supply chain and identify optimisation and value generating opportunities.

Take on-time delivery (OTD) as an example. Predictive analytics are identifying the probability of whether an order will be delivered on time even before its placed, based on previous events. Combined with recommendation engines that suggest improvement actions, the analytics enable teams to proactively mitigate risk of late deliveries, such as through spreading an order over a second or third source of supply. 

Advanced analytics is a research and development focus for JAGGAER, and we expect procurement’s ability to leverage AI to become even stronger and more impactful.

 

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