487 Consulting Services has signed on to AribaPay. An innovative service offered by SAP Ariba as part of its comprehensive financial supply chain management solutions, AribaPay automates payments between companies.
And using it, 487 Consulting Services is able to receive and reconcile payments more quickly and efficiently than ever before.
Despite significant advances in technology, the vast majority of payments between businesses still occur offline using largely manual processes. And this poses a host of problems.
Payments are often delayed. Lack of visibility into scheduled payments makes it difficult to forecast cash flow. And even when payments are received promptly, they can’t easily be reconciled because the payment file may come with incomplete remittance detail, or may not contain any remittance information at all.
Things changed when Crouse was invited by a customer to sign up for AribaPay™. Delivered via the Ariba® Network, AribaPay provides a secure and accurate way for businesses to exchange payments electronically. Using the solution, buyers and sellers can:
• Exchange purchase orders, invoices and payments — all in a fast, secure, electronic environment
• Receive rich remittance advice
• Improve visibility into status, timing and nature of payments
• Lower processing costs
• Reduce fraud risk
• Speed reconciliation and dispute resolution
More than $40 billion in payments have been made using AribaPay to date.
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