Ariba to boost its enterprise spend management strategy

Ariba has announced a pro forma profit for the third quarter ending 30 June, while boosting revenue for the third quarter in a...

Ariba has announced a pro forma profit for the third quarter ending 30 June, while boosting revenue for the third quarter in a row. In addition, the company has detailed plans for the next generation of its enterprise spend management strategy.

Revenues for the quarter were $58m (£36.8m) with a pro forma net income excluding more than $200m ($127m) of non-cash costs of $1.9m ($1.2m).

Just a year ago the company posted a pro form net loss of $26m and revenue of $85m for the same quarter a year ago. At that time the company also announced a major restructuring that included cutting a third of its workforce and the exit of its chief executive officer.

Bob Calderoni, Ariba president and chief executive officer, said the company's new line of spend management products have accounted for the boost.

Ariba's spend management line is designed to provide a single point of visibility and control allowing companies to manage the entire spend lifecycle from analysis, through sourcing, to procurement across the enterprise.

"It's these new products that have allowed us to buck the overall trend in the industry. Ariba's spend management solutions stand alone as the only solution to allow a company to manage expenditures... to deliver significant bottom-line savings." Calderoni said.

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