Ariba Rings in New Era
Company fuels participation in the Networked Economy through Ariba Network
SUNNYVALE, Calif. – January 5, 2012 – Throughout history, businesses have attempted to capitalize on advances in technology to drive step changes in their performance. In the 80s, they turned to client-server technology and desktop applications to simplify routine tasks and share information more efficiently. In the 90s and early 2000s, they leveraged the World-Wide Web to automate information flows and streamline function-specific processes. Today, we are embarking on a new era. And Ariba, Inc. (Nasdaq: ARBA), the world’s business commerce network, is helping to usher it in.
“Thanks to mega-trends in how technology is delivered, accessed and used, we are now more connected and enabled to make more informed decisions than ever before,” said Tim Minahan, Chief Marketing Officer, Ariba. “Companies are tapping into digital communities to find new business opportunities, discover and qualify new sources of supply, track and coordinate orders across their supply chain and gain the transparency into payables and receivables status needed to make better working capital decisions – all in real-time. We are officially a Networked Economy.”
The move to this new economy is being enabled and accelerated by trends like cloud computing, mobility and the convergence of enterprise applications and social media or collaboration through communities. And by the Ariba® Network, which leverages all four to help companies buy, sell and manage their cash more efficiently and effectively.
“In today’s business world, it’s not just what you know, but who you know and how you connect with them,” Minahan said. “More and more businesses are looking beyond the four walls of the enterprise to extend their processes and systems to connect and collaborate more efficiently with customers, suppliers, and other trading partners across the street and around the globe.”
Traditional operating models and enterprise applications don’t allow for this. And standard point-to-point and hub-and-spoke integration models are too costly and cumbersome to connect all relevant trading partners. Business networks like the Ariba Network solve this problem by delivering a single, open digital community that can be accessed by any application or any device in any corner of the globe. And these business networks are paving the way for companies to reach new levels of productivity.
Used by more than 730,000 companies around the world to transact more than $202 billion in commerce on an annual basis, the Ariba Network - much like its social counterparts such as Facebook, Twitter, and LinkedIn - provides:
- Cloud-based applications that allow organizations that share a business process to share the underlying technology infrastructure that enables that process. This shared cloud infrastructure ensures that all parties are collaborating around the same information and coordinating process execution on a common platform. And, because there’s no hardware or software to install or maintain, parties can engage in the process from any device, whenever and wherever required.
- A community of partners through which companies can quickly discover, qualify, connect, and collaborate with trading partners.
- Capabilities in the form of best practices, community-derived intelligence and other unique features or services that are only available to members of the community, such as unique analytics, preferred financing, and ratings.
“Companies today want access to the people, processes and tools they need to make their businesses go,” Minahan said. “They want to be able to buy, sell and manage their cash as easily in their business lives as they do on the homefront. In short, they want business networks.”
A decade ago, there was serious debate about the viability of the Internet as a channel for business – or even a tool to power it. Today, it is clearly a driving force of productivity and profitability:
- In a recent study, management consulting firm McKinsey & Co. found that companies using collaborative technologies like business networks to align with their partners were outperforming their peers in every category of business performance by a wide margin.
- A CFO Magazine study of 200 global finance executives found that they viewed using technologies – like the cloud and business networks – to better discover, connect, and collaborate with their customers, suppliers, banks, and other trading partners as a top priority for agility and growth.
- A CIO Magazine study found that IT executives are also prioritizing investments to improve external collaboration.
- A research series from Harvard Business School points to inter-enterprise collaboration as a key competitive competence going forward.
“Companies are speeding to embrace the Networked Economy for a simple and pragmatic reason,” Minahan said. “It’s just good business.”
To learn more about the Networked Economy and how you can get your company connected, visit www.ariba.com