The Receivables Exchange LLC announced Tuesday that it has integrated its proprietary receivables trading platform with the Ariba Network platform operated by Ariba Inc. of Sunnyvale, Calif.
The New Orleans firm, which operates an online marketplace for real-time trading of accounts receivable, said suppliers on the Ariba Network can connect directly to the exchange to transfer their invoices to the trading platform for auction.
Justin Brownhill, a co-founder of the Receivables Exchange and its chief executive, said in a press release that by using a cash optimizer tool in the latest release of the Ariba Network, suppliers can calculate their cash needs against their eligible outstanding invoices and select the invoices they want to sell. "As a result, they can quickly inject liquidity into their business and improve their cash flow management."
