SAP is introducing SAP Supplier Financing, a ground-breaking new capability for suppliers on the Ariba Network, with the SAP Ariba 2108 release, scheduled for August 20. What network suppliers need to know about this new capabilities is summarised below.
As usual, three weeks prior to release, Ariba Network’s entire general availability (GA) release scope (containing the features stated above) will be announced via the release readiness notification (to subscribe: see FAQ) and the release readiness page on Ariba Connect.
If you work as a supplier, consider the following:
- Do you wish to increase your cash flow with affordable, flexible working capital solutions?
- Do you wish to be able to borrow money entirely online, free from the hassles of paper applications, etc.?
- Do you want to be able to quickly access options and status on SAP Ariba Network to maintain visibility and transparency throughout the process?
- Do you oversee SAP Ariba Network spending ranging from $500K to 900M?
You are in the right place if you choose YES to each of them!
SMB Suppliers on SAP Ariba Network now have the option to finance their receivables through one of our financial partners, giving them a method to access working capital without having to wait for payment term cycles to finish. This is made possible by utilising SAP Supplier Financing. The entire procedure can be completed with just a few clicks online:
- Supplier uses the SAP Supplier Financing widget and selects “Get Offers.”
- Pre-qualified offers are generated once the supplier enters annual revenue.
- Supplier chooses an offer and consents to the terms.
- The supplier will be contacted by the financing partner.
The function is fully integrated into SAP Ariba Network and is self-service. Several financial partners will make pre-qualified proposals to you, and you may then get the best financial solution at the most convenient payment terms whenever you need it.
Naturally, there are no startup costs or SAP subscription fees to use this service.
Please take note that at present time, only American suppliers can use this service. We are currently investigating other nations. Follow along!
Last but not least, if you are a buyer, be sure to present SAP Ariba Network membership to your suppliers as a free advantage.
I strongly advise you to give it a shot!
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