July 28, 2008 BMO Spend & Payment Solutions, a division of BMO Financial Group will combine Ariba's on-demand offerings with its Spend Solutions suite to deliver an integrated source-to-settle process to help clients improve their bottom line.

By using Ariba's Spend Management solutions, BMO plans to create a single bank interface that allows clients to automate their purchase order, invoice receipt, invoice reconciliation and settlement process, and effect payments through purchasing cards and electronic funds transfer. Clients will also be able to finance early payment discounts, and monitor and control contract creation performance. BMO clients will also gain access to the Ariba Supplier Network.