PNC Financial Services Expands Relationship with Ariba; Leading Diversified Financial Services Company Continues to Leverage Ariba Spend Management Solutions for Savings, Efficiencies and Competitive Advantage.SUNNYVALE, Calif. -- Ariba(R), Inc. (Nasdaq:ARBA), the leading spend management solutions provider, today announced that it has extended its relationship with The PNC Financial Services PNC Financial Services (NYSE: PNC) is a U.S.-based financial services corporation, with assets of $92.0 billion. PNC operations include a regional banking franchise operating primarily in eight states and the District of Columbia, specialized financial businesses serving Group, Inc. (NYSE NYSE See: New York Stock Exchange :PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress ), one of the nation's largest diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services organizations. PNC has been using Ariba as its platform for procurement since 2001. Under the terms of a newly-signed agreement, PNC will further leverage the Ariba Sourcing(TM) solution to drive savings and process efficiencies that can enhance its competitive advantage and drive future growth. "At PNC, we recognized early on that implementing innovative technology and best practices allows us to effectively manage our spend and firmly establish ourselves as a best-in-class provider in the competitive financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry," said James Vespoli, Chief Purchasing Officer, PNC. "By leveraging Ariba's technology, commodity expertise and integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. , we have been able to streamline our sourcing process and generate dramatic savings that improve our operating leverage Operating Leverage A measurement of the degree to which a firm or project relies on fixed rather than variable costs. Notes: The higher the degree of operating leverage, the greater the potential danger from forecasting risk. and drive our growth." The Ariba Sourcing solution combines industry-leading technology with deep commodity knowledge and services in a single, integrated offering to help companies make more efficient and strategic sourcing decisions. Through advanced RFX RFX Receiver/Fixture Interface RFX Royal Foreign Exchange (Royal Bank of Canada) RFx Request for Information, Proposal or Quotation RFX Tactical Experimental Reconnaissance Aircraft RFX Record Field Exchange , real-time optimization, and auction capabilities, companies can be smarter and faster in their sourcing of the most complex categories of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . And with Ariba's on-demand access to a wide variety of sourcing and category specialists, companies can generate sustainable, demonstrable bottom-line results. "As we continue our efforts to drive excellence in procurement, we are implementing a category approach to sourcing that will allow us to deliver greater value for our organization," Vespoli said. "The Ariba Sourcing solution provides us with all of the tools we need to define and implement this strategy and accelerate the results we achieve." "PNC was an early adopter of spend management solutions and is a terrific example of what can be accomplished with the right people, processes and technology in place," said Kevin Costello, Chief Commercial Officer, Ariba. "By expanding how it leverages Ariba Sourcing, PNC not only generates measurable savings but drives operational excellence to maintain its edge in the marketplace." About The PNC Financial Services Group The PNC Financial Services Group, Inc. (http://www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending Asset-Based Lending A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing". ; wealth management; asset management and global fund services. About Ariba, Inc. Ariba, Inc. is the leading provider of Spend Management solutions to help companies realize rapid and sustainable bottom line results. Successful companies around the world in every industry use Ariba Spend Management software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com. Copyright (C) 1996 - 2006 Ariba, Inc. Ariba, the Ariba logo, AribaLIVE and SupplyWatch are registered trademarks of Ariba, Inc. Ariba Spend Management, Ariba Spend Management. Find it. Get it. Keep it., Ariba. This is Spend Management, Ariba Solutions Delivery, Ariba Analysis, Ariba Buyer, Ariba Category Management, Ariba Category Procurement, Ariba Contract Compliance, Ariba Contracts, Ariba Contract Management, Ariba Contract Workbench, Ariba Data Enrichment, Ariba eForms, Ariba Electronic Invoice Presentment and Payment, Ariba Invoice, Ariba Sourcing, Ariba Spend Visibility, Ariba Travel and Expense, Ariba Procure-to-Pay, Ariba Workforce, Ariba Supplier Network, Ariba Supplier Connectivity, Ariba Supplier Performance Management, Ariba PunchOut, Ariba QuickSource, PO-Flip, Ariba Settlement, Ariba Spend Management Knowledge Base, Ariba Ready, Ariba Supply Lines, Ariba Supply Manager, Ariba LIVE and It's Time for Spend Management are trademarks or service marks of Ariba, Inc. Ariba Proprietary and Confidential. All rights reserved. Patents pending. All other trademarks are property of their respective owners. Ariba Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 1995: Information and announcements in this release involve Ariba's expectations, beliefs, hopes, plans, intentions or strategies regarding the future and are forward-looking statements that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Ariba as of the date of the release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to Ariba's operating and financial results to differ materially from its current expectations include, but are not limited to: delays in development or shipment of new versions of Ariba's products and services; lack of market acceptance of Ariba's existing or future products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; the ability to attract and retain qualified employees; difficulties in assimilating acquired companies; long and unpredictable sales cycles and the deferrals of anticipated orders; declining economic conditions; inability to control costs; changes in the company's pricing or compensation policies; significant fluctuations in our stock price; the outcome of and costs associated with pending or potential future regulatory or legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. ; the impact of our acquisitions, including the disruption or loss of customer, business partner, supplier or employee relationships; and the level of costs and expenses incurred by Ariba as a result of such transactions. Factors and risks associated with its business, including a number of the factors and risks described above, are discussed in Ariba's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed December 7, 2005 and in its Form 10-Q Form 10-Q See 10-Q. filed May 15, 2006. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion