B2B Payments

SAP Ariba Tapped To Digitize LATAM Cosmetics Supply Chain

SAP has been chosen by cosmetics company Grupo Boticário to digitize its cosmetics supply chain, reports said on Wednesday (Sept. 19).

Based in Brazil, Grupo Boticário is a leading manufacturer of cosmetics and perfume. The company has points of sale across 13 countries, according to reports in Retail Times.

In an announcement, Grupo Boticário said it has chosen SAP and its SAP Ariba solution to digitize its supply chain and procure-to-pay processes. The companies pointed to SAP research in its Digital Transformation Executive Study, which found that only 3 percent of companies that recognize the importance of digital transformation have actually completed their digital transformation initiatives.

Most of the businesses surveyed across Latin America said they plan to increase turnover this year, but acknowledge the accelerating pace of change in the market.

“The world has gone digital and procurement has gone with it,” said SAP Ariba Latin America Vice President Catalina Manrique in a statement. “Innovative companies like Grupo Boticário have embraced this trend, and are powering new ways of thinking and operating that go beyond savings and efficiencies and can create long-term, sustainable advantage for their businesses.”

Through SAP Ariba, the manufacturer will deploy cloud-based applications to digitize its supply chain management and procurement operations. In a statement, Grupo Boticário’s CIO, Nicolas Simone, said the company makes more than 250 million products a year.

“Running a business of this magnitude requires a highly synchronized supply chain,” Simone stated. “And with solutions from SAP and SAP Ariba, we can build one.”

SAP Ariba’s efforts to further digitize the procurement process have recently included the integration of bot technology. Last year, it announced the development of its eProcurement bot for buyers and suppliers to streamline the procure-to-pay process, with an eye on the complex communication requirements in this area.

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LIVE PYMNTS ROUNDTABLE: MODERNIZING & SCALING FOR THE NEW NORMAL

The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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