SAP Ariba Live: Celebrating the Power of $3 Trillion in Annual Commerce

When economists categorize vibrant, growing economies, they often mention the “Trillion Dollar Club” as an indicator of success. Each with a GDP of more than US$1 trillion per year, the United States, China, Japan, Germany, and the United Kingdom all ranked in the top five worldwide economies in 2018. But did you know that if the SAP Ariba Network were its own economy, it would rival the United Kingdom, whose GDP is approximately $2.94 trillion?

That’s right, SAP Ariba solutions are on track to process $3 trillion in commerce annually in 2019 — a first in business networks worldwide. From sourcing and contracting to invoicing and payments, 3.8 million connected companies representing 190 countries and speaking 24 different languages have access to a commerce environment outpacing most of the world’s major economies.

With news like this, how can we not be excited?

Since 1996, we’ve been working toward this moment. And personally, I am very excited to celebrate this milestone at the upcoming SAP Ariba Live event in Austin.

For three days, we will show attendees from all over the globe what this industry-first milestone means for their procurement, supply management, and sales practices. In addition, we’ll help them understand how to translate their data into intelligence they can act on to make smarter, faster decisions and create enduring value.

Can’t wait until the first keynote on April 1? Here’s a small glimpse of why processing $3 trillion in annual commerce matters for your business:

1. Strengthen the ties between customers and suppliers with purpose

SAP Ariba solutions are helping our customers extract opportunity from the massive disruption caused by an onslaught of market volatility, tariffs, trade restrictions, near-shoring trends, and increased commodity prices. Millions of businesses are raising the expectations of their decision-makers and consumers through experiences and interactions that are streamlined, personalized, transparent, and faster.

At the same time, companies are effecting positive social change. The transparency gained through our digital network enables decision-makers to align business spending across hundreds of socially relevant criteria with the values of their customers, investors, employees, and other key stakeholders.

For example, businesses are answering rising demand for more diverse supply chains and ethical sourcing through automation. Such capabilities are enabled through the use of Big Data and cognitive technologies such as artificial intelligence, blockchain, the Internet of Things, machine learning, robotics, and 3D printing — all while keeping their data and system landscapes secure.

2. Blur the lines of industry and competition with inclusive, meaningful practices

To manage disruption, respond to change, and future-proof themselves, our customers are using the world’s largest business network to operate with clear leadership and proactive change management. All organizations, including procurement, supply chain, finance, and accounts payable, are becoming more strategic business collaborators.

This approach is increasing the value that every employee, stakeholder, and external customer brings to the bottom line. But perhaps one of the most significant changes for businesses is their ability to run supply chains that put humans and corporate citizens first while using next-generation technology.

With a high level of trust and accountability, companies are adopting business models and strategies that answer consumer demand. But more stunning is their ability to use this technology to advance — not replace — employees with work that is meaningful, leadership that embraces inclusiveness, and opportunities that promote equality.

3. Engage an ecosystem of buyers and sellers to fulfill the next era of globalization

 Without a doubt, the increasing intelligence of digital technology has the capacity to solve everything from environmental constraints to socioeconomic inequality. However, there’s still a question of whether businesses can improve the human condition on an international scale as well as a corporate, local and national level.

To fulfill the full promise of this new era of globalization, often called “Globalization 4.0,” businesses must find revolutionary ways to integrate spend management of goods and services across geographic borders. For this reason, the real value of SAP Ariba solutions is found in the marketplace they support, not in their application capabilities. The more businesses change and expand, the more we realize the benefits of enabling a living ecosystem of buyers and suppliers that are driving purpose throughout their value chains and the wider world.

This unified commerce community is moving forward into the future exchange of goods and services — one source that connects all sides of commerce to form business relationships; buy, sell, and collaborate; and share information. And together, they are transforming mindsets and accepted practices by welcoming supplier innovation and managing risk in ways that reinforce corporate responsibility. 

 Ready to move from the commerce sidelines to a vibrant business network?

Curious about how SAP Ariba solutions can help your business take advantage of a vibrant commerce environment while improving your approach to spend analytics, sourcing, supplier management, contract management, e-procurement, invoicing and payments? We invite you to join us at SAP Ariba Live to learn more.

Early-bird registration for SAP Ariba Live is now open. Act now to take advantage of the best rate, and save even more when you register a group of five colleagues. Register today!