September 18, 2007
September 18, 2007. New York, NY – DataArt, a high-end software outsourcing company, was chosen by Orbian, a leading global supply chain finance company, to partner with Orbian in the development of the next generation of its supply chain financing solutions.
Originally launched as a co-venture by Citibank and SAP AG, Orbian Corp. (www.orbian.com) is a privately held company that combines cutting edge technology with innovative funding capabilities to deliver automated trade payment solutions to buyers, and efficient access to cheap working capital to suppliers. Orbian's solutions enable suppliers to leverage their buyer ' s cost of capital to significantly reduce their financing costs relative to traditional methods of receivables financing.
DataArt was chosen as a strategic partner to help with the evolution of Orbian's technology platform which leverages the buyer's existing investment in enterprise resource planning (ERP) systems, and enables buyers to transmit approved payables and associated remittance information to their supply chain at the point of invoice approval in a secure and automated fashion. Orbian then benefits the entire supply chain by providing low-cost, non-recourse financing through highly effective and secure proprietary processes and technology.
The current Orbian system configuration is a multi-tier system built on EJB 2.1 technology, which is being migrated to EJB3. The processing and reconciliation of cash movements is handled using standard SAP Financial Accounting (SAP FI) functionality. The User Interface (for both end-users and Orbian back-office personnel) is built with a standard mix of JSP, JSTL, and Struts with Tiles.
Following Orbian’s recently announced partnership with one of the world's leading spend management solutions providers, DataArt assisted in the integration of the Orbian system with the partner's supplier network. The challenge was to seamlessly combine the capabilities of the two parties and deliver a single interface to customers resulting in a unique, full-service offering incorporating purchase-to-pay automation and working capital management.
"DataArt provides Orbian the opportunity to team with a highly talented firm that shares the same views on the use of technology as an enabler, with skills and experience in the financial services sector, and an underlying belief in the value of partnership," said Dean Miller, Deputy Chairman of Orbian.
About DataArt:
DataArt (www.dataart.com) is a leading provider of high-end software outsourcing services for SMEs, specializing in enterprise application development, system integration and business automation tools, with industry-specific software expertise in financial, telecom and media sectors. Headquartered in New York City, DataArt runs R&D centers in St. Petersburg and Voronezh, Russia, in Kharkov and Kherson (Ukraine) and maintains offices throughout the U.S. and in London, UK.
In 2006-2007, DataArt was named one of the world's top emerging outsourcing providers by BusinessWeek, by CMP's Global Services 100 and by International Association of Outsourcing Professionals.
Media Contact:
Vica Vinogradova
212-378-4108 x.14
vica@dataart.com
September 07, 2007
DataArt was chosen by Orbian, a leading supply chain financing company, to provide the next generation of technological solution powering the electronic payables presentment and payment (EPPP) services.
Orbian provides cost-effective receivables financing for buyers and suppliers, and prides itself in combining the leading edge technology with a proprietary funding capabilities. Orbian's solutions enable a supplier to leverage the buyer's cost of capital to significantly reduce financing costs in the supply chain relative to traditional bank and card offerings. DataArt was chosen as a strategic partner to help with technology component.
"DataArt provides Orbian the opportunity to team with a highly talented firm that shares the same views on technology as an enabler, with skills and experience in financial services markets, and an underlying belief in the value of partnership," said Dean Miller, Deputy Chairman of Orbian.
Orbian currently provides 26 Fortune 500 companies and over 1700 of their suppliers with substantial cash flow benefits, low cost finance and enhanced supply chain management.
