SINGAPORE - Media OutReach - 21 August 2019 - StandardChartered Bank and SAP Ariba today announceda strategic collaboration to make the Bank's financial supply chain solutionseasily accessible to businesses in the Asia Pacific region through Ariba Network , theworld's largest digital business network connecting more than 4.2 millioncompanies in 190 countries.
Bythe end of 2019, buyers using Ariba Network will be able to seamlessly manage theirpayments and supply chain finance needs with the SAP Ariba digital platform, whilesuppliers will get quicker access to financing and foreign exchange viaStandard Chartered's global network. The collaboration isintended to accelerate the digitalisation of the entire supply chain, improvingefficiency, transparency and accuracy for buyers and suppliers alike.
Workingacross some of the world's most dynamic trade corridors, Standard Chartered andSAP Ariba are committed to supporting sustainable economic growth and makingfinancing more accessible to companies by connecting business communities andfacilitating increased commerce across the globe.
"Our goal is to make life easier for ourclients and their ecosystems, and as their businesses evolve, so do we," said Lisa Robins , global head of TransactionBanking at Standard Chartered. "We are delighted to collaborate with SAP Aribato support our clients throughout their procure-to-pay lifecycles and beyond. Aswe embrace open banking, we connect communities across our footprint andprovide access to integrated solutions that enable our clients to grow theirbusinesses sustainably."
"Customersexpect the procure-to-pay process to be easy, efficient, comprehensive and seamless,and rightly so," said Sean Thompson ,senior vice president, Business Network and Ecosystem, SAP Ariba and SAPFieldglass. "We are thrilled to welcome Standard Chartered into ourever-expanding ecosystem to deliver financing options that enhance value forour customers, allowing them to complete the procure-to-pay process end-to-end ona single platform."
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About Standard Chartered
We are a leading international banking group, with a presence in60 of the world's most dynamic markets, and serving clients in a further 85.Our purpose is to drive commerce and prosperity through our unique diversity,and our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong StockExchanges as well as the Bombay and National Stock Exchanges in India.
AboutSAP Ariba and SAP Fieldglass
SAP Ariba and SAPFieldglass is how companies connect to get business done and spend better. WithSAP Ariba and SAP Fieldglass, businesses can manage the buying process acrossall categories of spend -- from direct and indirect goods and services toexternal workforce. On Ariba Network, buyers and suppliers from more than 4.2million companies and 190 countries discover new opportunities, collaborate ontransactions, grow strong relationships, and build healthy supply chains. It'swhere more than $2.9 trillion in commerce gets done every year. SAP Fieldglassis used by organizations in more than 180 countries to find, engage and manage flexibleworkforces that include non-payroll workers and service providers. With SAP Ariba and SAP Fieldglass, companiesare transforming how they manage all categories of spend with improvedoperational efficiency and compliance, increased agility and acceleratedbusiness outcomes. To learn more visit www.ariba.com and www.fieldglass.com.
Asthe Experience Company powered by the Intelligent Enterprise, SAP is the market leader in enterprise applicationsoftware, helping companies of all sizes and in all industries run at theirbest: 77% of the world's transaction revenue touches an SAP® system. Ourmachine learning, Internet of Things (IoT), and advanced analytics technologieshelp turn customers' businesses into intelligent enterprises. SAP helps givepeople and organizations deep business insight and fosters collaboration thathelps them stay ahead of their competition. We simplify technology for companiesso they can consume our software the way they want -- without disruption. Ourend-to-end suite of applications and services enables more than 437,000business and public customers to operate profitably, adapt continuously, andmake a difference. With a global network of customers, partners, employees, andthought leaders, SAP helps the world run better and improve people's lives. Formore information, visit www.sap.com.