Ivalua Launches Innovations to Improve Supply Chain Resilience and Employee Productivity

REDWOOD CITY, Calif., Feb. 24, 2021 /PRNewswire/ -- Ivalua, a global leader in Cloud Spend Management solutions, today announced the general availability of its new platform release 168. The release includes a broad set of innovations to help organizations better manage their spend and suppliers. Customers can now ensure greater supply chain resilience through improved supplier discovery and collaboration, increase efficiency across each step of the source-to-pay process and better understand and optimize cost drivers for goods and services purchased. The release also adds or deepens integrations with Ivalua's growing partner ecosystem to improve decision-making and optimize the purchasing experience for users.

Ivalua has been increasingly recognized by analysts and other 3rd parties for the strength of its platform, product strategy and ability to execute. In 2020, Ivalua was named a Leader in the 2020 Gartner "Magic Quadrant for Procure-to-Pay Suites" and by Forrester Research Inc. in "The Forrester Wave(TM): Supplier Risk And Performance Management (SRPM) Platforms, Q3 2020." Ivalua was also awarded the best P2P Specialist Provider by an independent panel of industry veterans at the 2020 World Procurement Awards and this release will support extending its leadership by delivering ever greater value to customers.

Specific release highlights include:

Supplier Management Innovations:

    --  Improved Supplier Diversity and Inclusion - With corporate social
        responsibility growing in importance, customers can more easily manage
        Minority and Women-Owned Business Enterprise (MWBE) classification and
        credentials.
    --  Faster Supplier Discovery and Enrichment - The pandemic highlighted the
        importance of having accurate supplier information and being able to
        quickly identify alternate sources of supply. Out-of-the-box integration
        to Tealbook now enables customers to discover new suppliers with a
        single click and access a high-quality source of supplier information.
    --  Improved Supplier Collaboration - As suppliers become increasingly
        important to organizational success, customers can create and project
        manage various types of supplier collaborations, including Innovation
        Plans and Corrective Action Plans.

Sourcing Innovations:

    --  Deeper Understanding of Cost Drivers During Sourcing: Deliver better
        sourcing results by understanding what drives costs for items. Ivalua
        streamlines the process of building, quoting, and analyzing supplier
        proposals.
    --  Streamlined Contract Authoring: By starting contracting during sourcing,
        customers can reduce the cycle time from quote to contract and consider
        negotiated terms in sourcing decisions. Now, customers can create and
        iterate on a draft contract during an RFX.

Contract Management Innovations:

    --  Automated Contract Data Capture: Ivalua Contract Management can now
        match, segment and extract clauses and metadata from third-party paper
        contracts to save time and improve contract transparency.
    --  Collaborative Authoring: Collaboration internally and with suppliers
        within a contract helps improve efficiency and visibility throughout the
        process. Collaboration via comments and conversations is now simple and
        quick for users.

Procure-to-Pay Innovations:

    --  Supply Chain Collaboration: Direct material transactions and schedule
        lines have been further enhanced to improve communication and
        collaboration of MRP orders between buyers and suppliers. Additionally,
        suppliers are now able to create a barcode label upon the creation of an
        advanced shipping notice, which can be scanned upon delivery to validate
        a goods receipt.
    --  Deeper Integration with Amazon Business: Customers can now offer their
        users access to a curated list of Amazon Business items that can be
        searched, compared and checked out, directly in Ivalua with real-time
        pricing and availability checks.
    --  eSigning & eArchiving for eInvoices is now offered as part of Ivalua's
        Invoicing solution, ensuring authenticity and integrity of the invoice
        content and archiving based on country regulations.

"The Covid-19 pandemic highlighted the importance of effectively managing spend and suppliers," said Pascal Bensoussan, Chief Product Officer. "This release empowers procurement and supply chain leaders to better ensure resilience, control costs and optimize employee productivity."

About Ivalua

Ivalua is a leading provider of cloud-based Spend Management solutions. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, lowering risk and improving employee productivity. Trusted by hundreds of the world's most admired brands and recognised as a leader by Gartner and other analysts, Ivalua maintains the industry's leading 98%+ customer retention rate. Learn more at www.ivalua.com.

Media Contact

Michael Gallo
Lumina Communications for Ivalua
212-239-8594
Ivalua@Luminapr.com

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SOURCE Ivalua