The average business has become more globally invested than ever before, as modern telecommunications and information technologies have enabled international competition in a wider breadth of industries and regions in the past several years. Empowered with automated reporting analytics, content management, e-invoicing and other tools, businesses of all sizes have a real opportunity to begin boosting revenues in emerging markets and other nations.
Ariba recently announced that its global business network, with 1.6 million companies coming from roughly 190 countries, is already the most substantial one in the world, and that transaction volumes are hitting $600 billion annually. To show just how large and powerful this network is, Ariba noted that somewhere between 40 percent and 60 percent of a given company's trading partners are already connecting through it when entering into the race.
Some of the advantages of joining the Ariba Network platform, which is a subsidiary of SAP, is that accounts payable and receivable can be made more transparent through the use of special business processes.
"With Ariba, companies can quickly and easily connect their systems and processes to those of their partners – regardless of the backend systems they may be using," SAP President of Business Networks Chakib Bouhdary affirmed. "More important, they can harness the power of network-derived intelligence to move beyond simple automation and enable new processes and insights that are only possible at scale in a truly networked environment and realize the true potential of end-to-end automation."
At the end of the day, one would be hard-pressed to find a firm that would not benefit from these types of platforms and solutions, and the sooner decision-makers begin to embrace these modern technologies, the more they will enjoy by way of increased efficiency, revenue and customer engagement.