SAP and Goldman Sachs to offer global payments on Ariba Network

Tuesday 17 March 2020 14:18 CET | News

Goldman Sachs has entered into a new partnership to enable companies carry out business transactions through SAP’s Ariba Network.

Goldman Sachs’ cross-border Global Payments capabilities will be available in select SAP Ariba solutions, making it  less costly for buyers to pay foreign suppliers in local currencies.

Benefits of this partnership and these capabilities for buyers and suppliers include:

  • Streamlined process for paying foreign suppliers in local currencies 
  • Improved operational efficiency through easier reconciliation of payments to corresponding invoices
  • Real-time payment tracking, reducing payment-related supplier inquiries
  • Cost transparency on bank fees
  • Optimized payment routing offered by Goldman Sachs’ machine learning techniques
  • Reduced risk as a result of improved visibility and control over foreign exchange payments and currency exposures for stakeholders in procurement and treasury
  • Improved buyer-supplier relations with transactions conducted in each party’s preferred currency with minimal change management required.

More: Link

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Keywords: SAP, Goldman Sachs, payments , Ariba Network
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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