Streamlining Accounts Payable May Help Companies Weather Down Economy

With the lingering global economic malaise, companies must diligently manage their spend and optimize cash flow in order to maintain their competitive position. According to a new study from CFO Research Services, implementing technology and best practices to streamline the accounts payable process can help by driving cost savings and efficiencies that enable businesses to preserve their margins, minimize risk and improve liquidity. On April 17, Ariba, Inc. (Nasdaq:ARBA), the leading spend management solutions provider, will host a webinar featuring CFO Research Services, to discuss the findings of the study in depth. The interactive session will be held from 2 PM to 3 PM ET. "There is no single magic bullet that will reduce costs, increase efficiency and eliminate risk in accounts payable,” said Celina Rogers, Associate Director of Research, CFO Research Services, "but senior finance executives in this study say that streamlined business processes, paired with improved systems for transaction processing, are the foundation for successful AP improvement efforts.” In February 2008, CFO Research Services launched Paths to Improvements in Accounts Payable: The View From Finance, a survey of senior finance executives at companies throughout North America. Sponsored by Ariba, the research sought to explore finance executives’ interests, problems and plans in the management of accounts payable and understand the paths they are pursuing to drive improvements. Among the key findings: Activities that contribute directly to the bottom line – cost management and decision support – are top priorities in finance. Reducing the cost, improving the efficiency and increasing control over the accounts payable process are key targets for improvements. Technology and process enhancements are viewed as the best way to achieve these improvements. Of the finance executives polled by CFO Research Services, 62 percent indicated that the information they receive from accounts payable is often insufficient to support decision making. Further, a substantial number of respondents believe there is room for improvement in several critical areas, including securing discounts from vendors by documenting early payments, extracting maximum value from negotiated contract terms and contributing to working capital management efforts by effectively managing says payable outstanding, among other things. "With the right combination of technology and best practice processes, companies can refine reporting, control and communications in accounts payable and ultimately, free up working capital and realize hard Dollar savings,” said Drew Hofler, Senior Manager, Financial Solutions, Ariba. Recently named "Best Electronic Invoice Presentment and Payment Services Provider” by Global Finance Magazine, 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. "The battle to control costs is ongoing and must be fought on many fronts,” Hofler said. "With the right solutions and processes in place, companies of all types and sizes can drive meaningful improvements in the accounts payable process that support their overall business objectives and positively impact their bottom lines.” To hear more about the CFO Research Services study, register today for the April 17 webinar at: www.financialexecutives.org/eweb/DynamicPage.aspx?Site=_fei&webcode=ev t_basic_detail&rEg_evt_key=38671a73-0747-4e10-aeaf-f8f33e946f1f&PAYING =Fees (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) Participants in the session will receive a free copy of the full report. To learn more about Ariba’s invoice and payment solutions and the benefits they are delivering to companies around the world, visit: www.ariba.com/explore/index.cfm?templID=9 About Ariba, Inc. Ariba, Inc. is the leading provider of spend management solutions to help companies realize rapid and sustainable bottom line results. Successful companies around the world in every industry use Ariba Spend Management™ software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com. Copyright © 1996 – 2008 Ariba, Inc. Ariba, the Ariba logo, AribaLIVE and SupplyWatch are registered trademarks of Ariba, Inc. Ariba Spend Management, Ariba Spend Management. Find it. Get it. Keep it., Ariba. 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Factors that could cause or contribute to Ariba's operating and financial results to differ materially from current expectations include, but are not limited to: delays in development or shipment of new versions of Ariba's products and services; lack of market acceptance of Ariba's existing or future products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; the ability to attract and retain qualified employees; difficulties in assimilating acquired companies, including Procuri which Ariba acquired on December 17, 2007; long and unpredictable sales cycles and the deferrals of anticipated orders; declining economic conditions; inability to control costs; changes in the company's pricing or compensation policies; significant fluctuations in our stock price; the outcome of and costs associated with pending or potential future regulatory or legal proceedings; the impact of our acquisitions, including the disruption or loss of customer, business partner, supplier or employee relationships; and the level of costs and expenses incurred by Ariba as a result of such transactions. 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