The final wave concerns the Asia Pacific region. Last October, U.S. suppliers were switched over, and in May of this year, the rest of North America, Latin America, Europe, the Middle East, and Africa made the jump, the release says.
The idea behind the transition is to help streamline transactions and “further strengthen Alphabet Inc. and Google’s existing and new relationships through improved communication methods,” the release says. Due to the SAP Ariba Network, suppliers have access to better visibility for invoices and orders, with the ability to self-manage account information, submit invoices electronically and receive new purchase orders.
The benefits for Google include a unified and accurate supplier record, the ability to integrate supplier qualification and segmentation with other procurement processes, and compliance for supplier risk management throughout the supply base.
The release adds that the SAP Ariba platform is integrating the Qualtrics technology, which will let Google and Alphabet make a continuous feedback loop for buyers and suppliers that will make the transactions go smoother.
Strides have been made lately toward eliminating late invoice payments, PYMNTS reported. Late invoice payments might not always be a sign of anything more than unfamiliarity with the process. Some smaller businesses might not have the resources or education to pull off seamless invoicing, according to Sandra Rowley, head of marketing for U.K. accounts receivable and POS solution provider takepayments.
The struggle can be seen in a majority of businesses using loans to fund day-to-day spending, rather than investing in new equipment to help with financing in the future. Sixty-three percent of small business owners are self-taught on invoicing, while 40 percent admit to not having much knowledge of the process at all.
SAP and Google have had a partnership since 2017, the press release states, working to help companies digitize their processes.