Citi’s Global Transaction Services unit will use Ariba offerings to deliver enhanced invoice and payment solutions to its clients worldwide.
Citi will integrate Ariba Invoice and Payment with its own electronic payment and supplier finance offerings to enable end-to-end financial supply chain management for its clients. Citi is the first financial services company to agree to private label Ariba’s spend management solutions to create additional value for customers.
“Citi has a long history of driving innovation to meet the unique and evolving needs of our clients. Leveraging Ariba’s invoice and payment solutions in combination with our own industry-leading offerings, we can bring to market an integrated solution that enables clients to unlock the full potential of working capital efficiencies and realise cost reductions across the organisation,” says Julie Monaco, regional head, North America, Global Transaction Services, Citi.
Citi will integrate its electronic payment solutions, including a recently launched buyer-initiated purchase card, seamlessly with Ariba’s invoice and payment offerings. Additionally, Citi will establish connectivity to its market leading supplier finance services.
“Citi is a recognised leader in delivering innovative treasury and cash management solutions that enable companies to effectively manage their financial supply chains on a global basis. By integrating our invoice and payment offerings, Citi can enhance these solutions and accelerate the results that its clients achieve,” says Bob Solomon, senior vice president and general manager, Ariba Supplier Network.