As the world’s largest business-to-business (B2B) network, SAP’s Ariba Network provides a dynamic marketplace enabling buyers and suppliers to collaborate seamlessly on transactions, deepen relationships, and explore new business opportunities.
During the SAPPHIRE NOW 2021 online conference, SAP Chief Executive Officer Christian Klein touted SAP’s Ariba Network as the heart of a new global engine for driving sustainable economic growth. As part of the SAP Business Network, Ariba Network now takes part in a strategy to unify existing networks into one collaborative and intelligent business network. This aims to help organisations efficiently manage sales cycles, enhance cash flows, and grow their respective businesses. Together with SAP Logistics Business Network and SAP Asset Intelligence Network, over 5.5 million organisations will benefit from being members of the global B2B social network, according to the German software giant.
In a recent announcement, SAP has welcomed Proxtera, an open connector for B2B marketplaces and business providers that service small and medium-sized enterprises (SMEs) in Asia, to the Ariba Network in an effort to make its client base of Asian SMEs expand its global reach. Furthermore, Proxtera will now have access to new demand channels to help grow its business in an increasingly digital and networked economy, thanks to the initiatives of SAP’s Ariba Network.
Proxtera Chairman Lim Kang Song shared in the press release statement:
“Proxtera’s mission is to enable SMEs around the world to thrive in the new normal of the digital economy and access new trade opportunities previously thought out of reach. Proxtera aims to help SMEs as they recover from the impact of the pandemic and to bring us one step closer to an open, more collaborative future where businesses of all sizes, including SMEs, have great trade opportunities afforded to them as traditional corporate ecosystems.”
Proxtera Becomes Part of SAP’s Ariba Network to Empower SMEs Around the World
Officially launched last March, Proxtera has support from Infocomm Media Development Authority (IMDA)’s Business sans Borders (BSB) initiative and the Monetary Authority of Singapore (MAS). Its mission is to connect more than 350,000 SMEs with new trading partners in a growing list of Asian nations such as Singapore, Malaysia, Indonesia, the Philippines, and India, as well as Africa’s Rwanda and Kenya.
Moreover, Proxtera intends to provide a suite of integrated digital tools and services to enable marketplaces, platforms, and SMEs to evaluate and act on business prospects more swiftly with each trade. Commenting on the latest announcement, Paul Marriott, President at SAP Asia Pacific Japan (APJ), said:
“It is clear that no business does business alone. This is part of our broader vision to reimagine how businesses, including SMEs, can collaborate with a network of global trading partners across supply chains, economies and industries, and empower companies to move faster and smarter than ever before.”
Meanwhile, Proxtera is also currently developing Proxtera Plus for its network of businesses and SMEs to help ensure that purchases are compliant with internal corporate regulations and allowing for faster digital approvals. Additionally, it is designed to deliver a smooth transaction experience for large buying organisations with a deep and diverse variety of buyers and sellers from wholesale e-Commerce platforms across Asia through Proxtera’s trade network of marketplaces.
By becoming a part of SAP’s Ariba Network, Proxtera will add significant value to SMEs with a sourcing discovery platform that allows businesses to maintain compliance in their sourcing process.
