SUNNYVALE, Calif.--(BUSINESS WIRE)--Ariba, Inc. (Nasdaq:ARBA), the leading spend management solutions provider, today announced that it has, for the third time in three years, been recognized as “Best Electronic Invoice Presentment and Payment Services Provider” by Global Finance Magazine. Ariba was selected on the basis of its profitability, market share, global reach, product innovation and customer service.

“In today’s competitive global economic environment, treasurers need the best tools and advice available to make capital work harder than ever,” said Global Finance Magazine publisher Joseph D. Giarraputo. “Our awards identify providers of solutions that consistently improve transaction processes to speed collections, reduce risks and help finance executives achieve their strategic goals.”

Ariba provides a comprehensive range of on-demand spend management solutions that enable large and growing enterprises to develop and implement a highly integrated cash management strategy while improving the efficiency of the entire procure-to-pay cycle. Ariba’s Invoice Professional^™ On-Demand solution and the Ariba Supplier Network^™ effectively enable companies to optimize their invoicing and reconciliation processes to achieve straight through processing and generate measurable and sustainable results, including:

    * Reduction of paper invoicing volume by more than 60 percent;
    * Decrease in PO-Invoice error rates by over 50 percent;
    * Trimming of invoice & payment cycle times by 75 percent;
    * Capture of negotiated and early-pay discounts otherwise lost to manual processes; and
    * Bulk enablement of several thousand suppliers in months rather than years.

“Research suggests that the average organization loses $15 million per year for every $1 billion in spend from inefficient A/P processes. In today’s economic environment, it is critical that organizations stem these losses,” said Drew Hofler, Senior Manager, Financial Solutions, Ariba. “With Ariba’s Invoice and Payment solutions, companies can streamline and enhance the Accounts Payable function and deliver immediate, measurable and sustainable results.”

For more information on Ariba Invoice and Payment solutions and the results they are delivering for companies around the world, please visit www.ariba.com

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