28 June 2021
Proxtera Joins the Ariba Network with the Vision to Help Companies Buy Smarter
SAP (NYSE: SAP) announced that Proxtera, an intelligent and open global network of B2B marketplaces that creates seamless buying and selling opportunities and business services for small and medium sized enterprises (SMEs) in Asia, is joining Ariba Network, the largest digital business network in the world. By joining Ariba Network, Proxtera will now be part of one collaborative, intelligent, global business network with access to new demand channels to grow its business in an increasingly digital and networked economy.
On its end, Proxtera is currently developing Proxtera Plus for its network of 350,000 businesses and SMEs. Proxtera Plus aims to provide a smooth search, product match and transaction experience for large buying organisations with a deep and diverse range of buyers and sellers from wholesale eCommerce platforms across Asia via Proxtera’s trade network of marketplaces, for example, Eezee, GlobalLinker, SGeBiz, and Sourcesage 99SME B2B. It also aims to help with compliance of purchases against internal corporate policies and enable quick digital approvals. Proxtera Plus is intended to make closing purchases easier, supported with secure payment rails and integrated fulfilment options.
Lim Kang Song, Proxtera Chairman, remarked, “Proxtera’s mission is to enable SMEs around the world to thrive in the new normal of the digital economy and access new trade opportunities previously thought out of reach. Proxtera aims to help SMEs as they recover from the impact of the pandemic and to bring us one step closer to an open, more collaborative future where businesses of all sizes, including SMEs, have great trade opportunities afforded to them as traditional corporate ecosystems.”
“It’s clear that no business does business alone. This is part of our broader vision to reimagine how businesses, including SMEs, can collaborate with a network of global trading partners across supply chains, economies and industries, and empower companies to move faster and smarter than ever before,” commented Paul Marriott, President, SAP Asia Pacific Japan.
Proxtera’s goals is to connect over 350,000 SMEs to new trading partners across a growing list of countries in Asia including Singapore, Malaysia, Indonesia, Philippines, India as well as in Africa with Rwanda and Kenya. With each trade, Proxtera envisions to offer a host of integrated digital tools and services that helps marketplaces, platforms and SMEs more quickly, access, evaluate and act on business opportunities. The target is for SMEs to join the Proxtera network via its eCommerce platform partners to benefit from access to enterprise buyers.
Source: Yahoo! Finance
Proxtera is a neutral hub connecting B2B marketplaces, service providers, and trade associations to simplify trade for small and medium enterprises (SMEs). Proxtera was launched in 2020 as the commercialisation of the Business sans Borders initiative by the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) to enhance digital and financial inclusivity for SMEs around the world. Today, Proxtera is live with 13 progressive platforms across Asia and Africa, which totals up to 400,000 SMEs in our network.
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