SAP to join Hyperledger community, SAP Ariba to
build new capabilities into applications and Ariba Network to
transform global supply chains
Blockchain is among the most disruptive technologies of the day.
From banking and insurance to agriculture, energy, healthcare, and
media, it is shaking-up entire industries and is about to transform
global supply chains, thanks to SAP Ariba. The company today
unveiled plans to leverage blockchain across its cloud-based
applications and business network to upend the way goods and
services are traded.
“Twenty years ago, SAP Ariba bet big on a fringe technology
called the Internet and pioneered a totally new model for buying
and selling,” said Joe Fox, Senior Vice President, Business
Development and Strategy, SAP Ariba. “True to our roots, we are
again investing at the edge of technology to drive innovations in
business-to-business collaboration that will change the game.”
At its core, blockchain is a digital ledger that can be used to
drive business processes involving multiple parties. “One of the
things blockchain does is facilitate greater visibility and trust,”
Fox said. “In embedding it across our applications and network, we
can enable supply chains that are smarter, faster and more
transparent from sourcing all the way through settlement.”
Intelligent and Transparent
Among the first applications of blockchain to procurement and
supply chains that SAP Ariba sees potential in involves the
tracking and tracing of goods.
“One of the biggest issues that companies face right now is
tracking and tracing goods before, during and after shipment,” said
Dana Gardner, principal analyst, Interarbor Solutions. “All too
often, a seller will ship something to a warehouse where it is
swapped for a knock off without the buyer knowing. The distributed
ledger capability of blockchain provides buyers and sellers with
increased visibility and control from shipment to receipt, which
ultimately reduces the risk of fraud.”
SAP Ariba intends to join forces with Everledger, a London-based
Fintech company, to extend such capabilities to the Ariba® Network.
Everledger securely captures the defining characteristics of
valuable objects such as diamonds and creates a digital thumbprint
of the asset that is stored on the blockchain. This information,
including history, transport, events and ownership, is relied upon
by multiple stakeholders across global supply chains to verify
authenticity.
“By harnessing the best of disruptive technology, we’ve built a
global platform of provenance by connecting records of authenticity
to a physical object and its certification as it moves throughout
the supply chain,” says Leanne Kemp, CEO and Founder of Everledger.
“We know the impact this can have. Integrating our technology with
SAP Ariba’s business network can not only lead to a reduction of
risk and fraud for stakeholders, but additionally helps to re-shape
a new era of global trade focused on the pillars of transparency,
sustainability and ethics.”
According to Fox, such technology is a natural fit within SAP
Ariba’s solutions. “If you can track and trace diamonds, you can
track and trace anything,” he says.
Everledger is one of several companies leveraging emerging
technologies such as blockchain, artificial intelligence, machine
learning and the Internet of Things set to present at SAP Ariba
Live, the premier business commerce conference being held this week
at the Cosmopolitan of Las Vegas.
About Everledger
Everledger is a global, digital ledger that tracks and protects
diamonds and other valuable items on their lifetime journey. Using
the best of emerging technology, Everledger provides insurance
companies, banks and multiple stakeholders across supply chains
with an immutable history of an item’s authenticity, existence and
ownership. Founded in April 2015 by Australian entrepreneur Leanne
Kemp, Everledger has digitally secured over 1,000,000 diamonds on
the blockchain and is extending the platform’s technology to asset
classes including fine wine and art. For more information
www.everledger.io.
About SAP Ariba
SAP Ariba is how companies connect to get business done. On the
Ariba Network, buyers and suppliers from more than 2.5 million
companies and 190 countries discover new opportunities, collaborate
on transactions and grow their relationships. Buyers can manage the
entire purchasing process, while controlling spending, finding new
sources of savings and building a healthy supply chain. And
suppliers can connect with profitable customers and efficiently
scale existing relationships – simplifying sales cycles and
improving cash control along the way. The result is a dynamic,
digital marketplace, where more than $1 trillion in commerce gets
done every year. To learn more about SAP Ariba, visit
www.ariba.com.
About SAP
As market leader in enterprise application software, SAP (NYSE:
SAP) helps companies of all sizes and industries run better. From
back office to boardroom, warehouse to storefront, desktop to
mobile device – SAP empowers people and organizations to work
together more efficiently and use business insight more effectively
to stay ahead of the competition. SAP applications and services
enable approximately 345,000 customers to operate profitably, adapt
continuously, and grow sustainably. For more information, visit
www.sap.com.
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SAP AribaKaren Master, +1-412-297-8177karen.master@sap.com
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