Barclaycard partners SAP for corporate payments
Written by Peter Walker
Barclaycard Commercial Payments has announced a strategic partnership with SAP UK, which will see Barclaycard integrate its business-to-business (B2B) payment product, Precisionpay, into SAP’s Ariba solutions marketplace.
The integration, to become available later this year, will bring procurement and payment together in one place. The first Barclaycard product to launch within Ariba Network will be Precisionpay Bank Transfer.
Barclaycard explained that buyers will be able to pay suppliers much earlier in the procurement cycle, improving supplier relationships and allowing them to take advantage of any prompt payment discounts.
Buyers could also benefit from access to flexible working capital – instead of having to pay the supplier directly, Barclaycard could fund the payment, and then the buyer would typically have up to 56 days to pay the balance.
In addition, customers of SAP Ariba solutions who use Precisionpay will benefit from access to data-led procurement insights, powered by SAP’s Cloud Platform and the SAP Analytics Cloud solution.
Marc Pettican, managing director of Barclaycard Commercial Payments, said: “In global procurement, payment has always been the part of the process that has created the most friction, so we’re really excited to be partnering with SAP to make B2B payments as simple and seamless as possible.”