Yes, you can do it using Ariba FPC(Ariba Process Control).
But before that you check whether
1. Your Ariba system is stand-alone or
2. Integrated to backend ERP.
If you are integrated to an ERP, you can study the current parent child relationship and how you want to segregate the data and implement access control so that it controls data visibility at 'child level' or 'parent' level.
If you google, you may get doc on Ariba FPC' and also available on some web sites on payment
in a real world scenario, if you have one company and multiple subsidiaries, you can design it as one partition and multiple company configuration.