The emerging trends in the procurement processes have led organizations to rely a great deal on procurement software to reduce cost and enhance efficiency. Today Procurement managers need to apply new trends, regulations, and lead on innovation to gain a competitive advantage for the organization. With broad set of capabilities like strong forecasting and planning skills, and ability to correctly assess the needs of the business, the current updated procurement solutions have come a long way than their traditional counterparts. The rise of SaaS providers had enabled procurement solutions to be offered as a service, but Ivalua—a Redwood City, CA based firm provides procurement solutions through unified SaaS spend management platform that enhances the bottom-line outcomes while incorporating the best practices across companies. “Ivalua’s cloud-based solutions are used by procurement and finance organizations globally, and every day more than 500,000 users and millions of suppliers log into the Ivalua platform,” begins David Khuat-Duy, Founder, and Corporate CEO of Ivalua.
Ivalua rolls out their unified SaaS based platform which enhances the client’s procurement operations through various modules like procurement, invoicing, sourcing, and supplier and management. With the help of the integrated platform clients can make use of the mapping capabilities along with bubble charts and analytic tools to display the spend analytics of their company. In order to keep the tech-savvy clients on their toes, the firm has recently come up with a “zero custom” target, which enables any product to have a zero coding to meet any requirement. This tool organizes workflows with a drag and drop mechanism and has improved the configuration process. With the dynamic discounting capability, suppliers can receive payments ahead of time, which streamlines the whole procurement process. However, this capability can only be utilized by self-financed buyers to provide enhanced payments to suppliers.And the suppliers can receive the payment against discount options through an invoice process. “Ivalua’s new Dynamic Discounting and Invoice Data Capture capabilities are good examples of practical collaboration around specific processes that are enabled by our technology,” utters Khuat-Duy.
Ivalua’s cloud-based solutions are used by procurement and finance organizations globally, and every day more than 500,000 users and millions of suppliers log into the Ivalua platform
The comprehensive platform by Ivalua offers mobile capabilities through the mobility module. With the help of the mobile capabilities, procurement officers can operate the tools on their devices with ease and efficiency. Ivalua’s “Add-on Store” allows clients to access the library of tools—connectors, applications, and templates along with a supplier catalogue connectors that are available for free. “With the Add-on Store, our customers and partners can now collaborate with each other and share knowledge and best practices at a whole new level,” says Khuat-Duy.
With the help of the Ivalua Academy young professionals can receive on-line training from e-learning innovators. The learning center provides a full suite of Ivalua solutions along with multimedia coursework and training certification for different types of users.
Ivalua’s comprehensive Procurement solution was utilized by Technip, leading North American oil and natural gas producer whose procurement team needed to secure savings across capital-intensive business. Initially the engineers would persuade the client to contracts and leave the particulars with their procurement teams which made supply base consolidation and negotiation of savings difficult. With Ivalua Supplier and Contract management solution, the client could improve contract visibility and focused on more strategic supplier relationships. It also reduced risk and enhanced the buyer-supplier interaction altogether.
Apart from the unified procurement platform, Ivalua plans to expand their solutions in the spend management domain. “The Add-on Store continues a long tradition of bringing something unique, practical and slightly ahead-of-its-time to procurement teams,” concludes Khuat-Duy.