Trading partners AGCO Corporation (AGCO - Free Report) and SHI International Corp., in association with Ariba, have formulated a single and centralized e-commerce platform to simplify business transactions. Both the companies will be able to boost their performance and profitability with this new arrangement.
SHI, a global provider of technology products and services, will share its ideas for success at Ariba Live, which starts on May 6 and will continue for three days. This business and commerce related event will be held at the Gaylord National Resort and Conference Center in Washington, D.C.
AGCO, a leading manufacturer of agricultural equipment, has been facing problems regarding multiple ERP systems and lack of standard process in the course of its dealings. On the other hand, SHI started connecting with its customers electronically in an effort to rationalize the purchasing process for them.
Ariba, an SAP company, helped them to overcome their challenges. Utilizing the Ariba Network along with its cloud-based applications, SHI set up an efficient system for online ordering and e-invoicing to meet AGCO’s needs. The technology enables AGCO to save time and resources and support it to manage contracts, supplier and invoice. Ariba Network increased spending visibility, resulting in more savings opportunities for AGCO.
Duluth, GA-based AGCO will enhance its presence in the Commonwealth of Independent States (CIS), China and Africa through investing in new products, including upgraded harvesting, high horsepower tractor and sprayer offerings.
AGCO has planned to spend in manufacturing facilities in 2013, ensuring the improvement in productivity and growth. In addition, the Marktoberdorf plant in Germany will augment both production capacity and efficiency of the company.
AGCO currently retains a short-term Zacks Rank #3 (Hold).
Alamo Group, Inc. (ALG - Free Report) , CNH Global NV and Deere & Company (DE - Free Report) also belong to the machinery and farming industry. Each of them holds a Zacks Rank #2 (Buy).