Ariba is proud to announce a key recognition of our innovation in the Electronic Invoice and B2B eCommerce Network techology market with the grant to Ariba of the trademark for the term PO-FLIP®, a "Household Name" today relative to reduction in paper invoices via automated receivables and payables processes.
The PO-FLIP® technology pioneered by Ariba over 7 years ago allows a buying organization to send a purchase order electronically to a selling organization and then allows the selling organization to PO-FLIP® the purchase order into an electronic invoice. The seller can then submit the "Flipped" invoice back to the buyer which is an exact duplicate of the original purchase order. This innovation eliminates errors, speeds time to approval from weeks to minutes/seconds and opens up the "Perfect Payable" for working capital management and early payment discount. The Ariba Network shares back to the seller the approval status of all invoices and all of the Ariba Network sellers who use PO-FLIP® report back almost instant invoice approved status for "Flipped" invoices.
PO-FLIP® Creates the “Perfect Payable in four key ways:
1. It eliminates errors and exceptions
2. It raises STP% (Straight Thru Processing Percentage) measure to 100%
3. It establishes the most value relative to Early Payment Discount opportunity
4. Finaly, it ensures the vendor will be paid on-time or early, what's more perfect than that?
5. Suppliers can create invoices in seconds rather than re-typing data that is already on the PO, saving time/cost in the AR process
The story behind the concept of flipping a purchase order starts with a customer problem. The idea came from one of Ariba's early customers who was already sending electronic purchase orders to a significant % of their suppliers via the Ariba Network. The customer came to the Ariba product management team and said they were excited about moving to 100% electronic purchase orders, but could Ariba now help them figure out how to eliminate all the resulting paper invoices. The customer said, "Could your Ariba Network just help the suppliers turn the electronic purchase order into an electronic invoice and send it right back over the Ariba Network at time of shipment?" Together that customer and Ariba Product Managment created PO-FLIP® to solve the problem. A solution only possible when built into a global B2B eCommerce Network such as The Ariba Network.
Here’s a comment from a seller on the Ariba Network, Joy Stoelting of Big Giant, from our press release that dropped today: http://ariba.com/news/press_release.cfm?press_id=2907
In the News Links to Ariba PO-Flip Registered Trademark announcement: