SAP AribaProduct Overview
SAP Ariba product overview
The SAP Ariba suite of spend management solutions empowers companies to become intelligent enterprises. The foundational technology and abilities of SAP Ariba solutions deliver reliable and accurate information so organizations can optimize their response to a rapidly changing marketplace. SAP Ariba solutions offer Spend Management, Supplier Management, Sourcing, Procurement, and Financial Supply Chain capabilities that aid in payables automation, contract lifecycle management, vendor management, and supplier risk management.
The SAP Ariba e-procurement and supply chain solutions enable large and midsize companies to realize fast time to value. Its spend management solution lets companies digitalize all processes end-to-end, on a single, integrated platform in the cloud. Moreover, it ties together more than 30 processes and incorporates comprehensive transaction data to improve accuracy and control every step of the way, from source to pay.
SAP Ariba is open to all systems and all types of goods and services, providing ways to connect to the world’s largest network of buyers and suppliers and collaborate with the right business partners.
Pros of SAP Ariba
- The platform’s built-in contract management functionality minimizes risk and accelerates the contract lifecycle.
- It allows organizations to save time and effort by automating accounts payable, from invoice capture through approval.
Cons of SAP Ariba
- Some users commented that SAP Ariba has a steep learning curve.
Breakdown of core features
Accounts payable process automation
SAP Ariba integrates procurement and AP processes with an accounts payable software solution to reduce costs and risks while boosting control and compliance. This accounts payable process automation software minimizes human intervention and eliminates error-prone tasks from the accounts payable–or trade payables–process. It also connects trading partners digitally to deliver effectiveness.
Contract lifecycle management (CLM)
The platform centralizes contract storage, strengthens compliance, and automates the creation, execution, and management of any contractual agreement type. Its contract lifecycle management (CLM) feature automates contract processes during key stages. These stages include initiation, authoring, process and workflow, negotiation and approval, execution, ongoing management and compliance (within the repository), and contract renewal.
By creating a common language, core templates, unified terms, and repeatable, consistent conditions, buyers and suppliers save time and reduce errors.
SAP Ariba’s e-invoicing features facilitate achieving new levels of invoice processing performance. Digitizing invoices can eliminate errors, reduce supplier inquiries, speed approvals, and improve compliance. Additionally, this feature streamlines invoice management and simplifies how invoice and compliance documents work together.
By digitizing invoice data and matching it against contracts, purchase orders, service entry sheets, and goods receipts, e-invoicing reduces the risk of invoice errors and exceptions.
With SAP Ariba, businesses can source and manage direct and indirect materials on a single platform. The platform unifies the entire sourcing, contracting, and spend all in one place. It standardizes source-to-contract processes across teams and business units. It also drives materials cost savings and optimization across all spend categories.
(Last updated on 10/08/2021 by Liz Laurente-Ticong)