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Finance & Accounting

6 Posts authored by: Justin Fogarty

Mediafly CFO John Evarti shared how their small company has used Ariba partner, The Receivalbes Exchange, to speed the time it takes for them to get paid by large customers. This cash flow has enabled them to hire more people, which in turn helps them grow. Great story about small business adding jobs during a lousy employment market.

 

 

View other interviews from the Ariba Commerce Summits in New York, Chicago and San Francisco in the YouTube playlist.

Last week on the Strategic Sourcing & Procurement group member call, we discussed the relationship and HUGE opportunity for procurement and finance to work together. That internal collaboration can be the 1st step towards increased liquidity that doesn't come at the expense of supply chain health. Once the procurement/finance working capital management goals are established, how does a buy-side organization reach out to their suppliers?

 

Drew Hofler shared his insights into how buyers should take those first steps and approach their key suppliers about a collaborative working capital management plan that can we a win/win for both sides of the transaction. An excerpt of Drew's advice:

 

 

The full replay of the call is available here (embedded player in center column). And of course, I recommend joining the Strategic Sourcing & Procurement group so you can participate in future calls.

This Thursday, I'm moderating the September LinkedIn Strategic Sourcing & Procurement group member call. This month, we're talking about Finance, specifically the relationship between finance and procurement. Helping us navigate this touchy subject huge opportunity for collaboration, efficiency gains and increase cash flow will be:

 

  • Charles Dominick, CEO of NextLevelPurchasing, who will share what they're seeing in the field as they roll out new courses on the Finance/Procurement relationship.
  • Drew Hofler, who manages financial solutions for Ariba and has a background in banking and accounting, sharing best practices of companies that have navigated the liquidity crisis and improved the finance/procurement relationship.

 

As always, we'll be encouraging participation - questions, insights and discussion - from the audience. These calls are a great way to get input from your peers about the topic.  The details:

 

Thursday, September 30th, 2010

8am Pacific Time (15:00 GMT)

 

No pre-registration for the call is required, but dial in details are only provided here to Group members. If you are not already a member, you can request to join here.

Richard Gamble wrote a piece titled 'Better Supply Chain View' in the most recent issue of Treasury & Finance magazine. In the piece, Richard interviewed Ariba's own Peter Lugli about how our commerce cloud capabilities are being used by customers in AP and finance - specifically to cut out the paper, gain insights into transaction data, and better manage cash. The article also digs into a case study of NSG, a global glass manufacturer that is using the Ariba Commerce Cloud for collaboration with suppliers, e-invoicing and dynamic discounting.

 

It's an interesting read, particularly if managing cash (and the related impacts on buyer/supplier relationships and process efficiency) are important to your organization right now.

Drew Hofler (Sr Manager of Working Capital Solutions at Ariba) discusses the current state of liquidity in the market, with a particular focus on the options buyer/supplier collaborators have to minimize risk and increase cash flow (such as Ariba partner, The Receivables Exchange).

 

Over the weekend, AN48 - the latest version of the Ariba Supplier Network - went live (release notes here). Drew Hofler took a few minutes of his time to explain the details on a new feature in AN48, the Cash Optimizer Tool.

 

With the Cash Optimizer tool, suppliers can create liquidity by acting on their buyer's early payment discount opportunites OR by auctioning bundles of their receivables on the Receivables Exchange. In a time of challenging credit markets when cash is king, this tool can help provide some much needed liquidity for companies on the Network.

 

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