Ariba snaps up e-invoice company

Telecom Paper reports.

With the acquisition, Ariba expands its global footprint, and extends its position in the market for e-invoicing solutions, RTT News says.

In a Market Watch report, Bob Calderoni, Ariba chairman and CEO, says companies around the world are embracing invoice automation to streamline financial processes and improve cash flow.

Calderoni says: "With the acquisition of B-process, Ariba can help more companies enable a smart invoicing process by delivering a platform that helps them automate invoice management in more geographies than any other solution on the market."

According to the two companies, the Ariba Invoice Management suite of solutions, combined with B-Process, will enable companies to implement a global invoicing process that reduces operating costs by up to 70%, supports complex compliance requirements, and improves business commerce collaboration.

B-process transacts more than 40 million invoices annually with an estimated value of over $80 billion.