Ivalua: Smart and Unflawed Procurement Management Solutions

David Khuat-Duy, Corporate CEO
A smart procurer should not only have a cost reducing sense, but also an eye to identify core spending habits. However, without a high visibility into the suppliers’ inventories and a transparent procurement processes, a smart purchase is a distant dream. “A buy-side ERP cannot bridge this gap, supplier punchout sites can’t either. The procurer needs a suite of solutions built to be in-between,” voices David Khuat-Duy, Corporate CEO, Ivalua. The Redwood City, CA based company has pioneered the “in-between” solution with its Ivalua Spend Management suite, a unique set of modules that bring out-of-the-box functionality for a wide range of processes for both buyers and suppliers on a single, flexible platform. This affords native integration between processes and flexibility in deployment for procuring companies to manage their supplier relationships in a transparent way.

Ivalua Spend Management suite comes with various modules with highly configurable functionality across all major procurement and finance processes, including performance and risk tracking, sourcing, contracts, procure to pay, invoice automation and analytics. For instance, while precision mapping of the spend is a fundamental need for any purchasing department, periodically collecting heterogeneous spending data stored in different systems, and analyzing it can be challenging. The Spend Analysis module, which comes with the suite, is designed to provide an efficient end-to-end solution to this problem. Its data gathering prowess allows for the mass retrieval of purchasing data from all existing sources (ERP, other information systems, Excel files, and more). Then the data passes through a “cleaning chamber” to identify anomalies and facilitate their treatment using built-in algorithms.“This cleansing system has the advantage of being self-learning, which means that corrected anomalies will not reappear during future data imports; time saved on typically processor-heavy data cleansing tasks are considerable,” states David.Finally, once the data is cleansed and standardized, it is available for real-time multidimensional analysis or for custom report creation.

On the similar grounds, the suite comes with modules such as E-sourcing, E-procurement, Contract, Invoice Management, and others—covering all the procurement needs.
Ivalua’s E-sourcing module mutually manages end-to-end stages of the sourcing process, from supplies collection to deploying contracts including the suppliers’ identification. With sophisticated functionality, E-sourcing cuts down costs and handles complex purchasing processes. Similarly, The Ivalua Contract Management module is structured to beat the challenges of suppliers contracts. Through a structured framework the module carries all contracts in a single location. “It offers functionalities for the management of the life cycle of a contract, from the creation and collaborative authoring to creation of amendments,” says David.

“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,” extols David. For instance, Technip, a provider of oil and gas, engineering, and construction solution, was struggling to remove the complexity of tracking transaction data and needed consistency and visibility into it. Technip’s complex business model adapted Ivalua’s E-sourcing and set of solutions that stored and centralized supplier data and the information shared with system-external participants when needed. It also offered full traceability of exchanges and communication between the client and suppliers.


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


“This is how we are always striving to ‘Keep it Real.’ The clients won’t find us over-leveraging our business, promising future functionality or hyping solutions that aren’t battle tested. We are the most stable, integrated and flexible player in the market and intend to stay that way,” concludes David.

Company
Ivalua

Headquarters
Redwood City, CA

Management
David Khuat-Duy, Corporate CEO and Dan Amzallag, CEO

Description
Ivalua offers a single platform solution with highly configurable functionality across all major procurement and finance processes.