Navy Federal Procurement: A Source-to-Contract and Intake Management Success Story with Ivalua

Navy Federal Credit Union and Ivalua: Partnering for Procurement Excellence

Navy Federal Credit Union partnered with Ivalua to modernize its procurement operations through an AI-enabled Source-to-Contract solution. Facing strict cybersecurity requirements, legacy systems, and growing demand for agility, Navy Federal implemented Ivalua’s unified platform to centralize sourcing, contract management, and supplier relationships. By introducing intelligent automation and AI agents, the team now streamlines intake, reduces cycle times, enhances spend visibility, and focuses on higher-value strategic work.

About Navy Federal Credit Union

Navy Federal Credit Union is the world’s largest credit union, serving over 15 million members worldwide. With $192 billion in assets and 371 branches, including 27 on military installations overseas. Navy Federal provides financial services to members of the armed forces, veterans, and their families. Within the organization, the Procurement and Vendor Management team oversees all sourcing, contracting, and third-party risk management, ensuring that every partnership upholds the credit union’s commitment to security, compliance, and exceptional member service.

Challenges

Stringent cybersecurity requirements: Managing sensitive member and financial data required a robust framework across all third-party engagements

Legacy systems and paper-based contract storage: Caused limited visibility and inconsistency in procurement processes

Disjointed intake workflows: Difficulty tracking progress, causing workflow and transaction inefficiencies

Growing demand for innovation and agility: To properly serve members, and give them access to third-party services, requiring top tier vendor management to support members’ needs

Benefits

Centralized procurement platform: To manage intake and triaging work, sourcing, contracts, and supplier management, replacing fragmented systems
Single system of record: for contract and supplier information, improving accuracy and compliance
Simplified regulatory reporting: Through unified data and improved visibility
Enhanced spend analytics: Across ecosystem of suppliers, and contractors, which informs category management, allows for the consolidation of suppliers, and ensures the best deals
Faster cycle times: Helps identify bottlenecks and get to market faster

Using AI to Power Smart Procurement

I’m most excited about the ability for AI to allow our people to get more done, to automate more of the routine work, and to elevate their thinking, and allow them to become better partners to our internal customers.

Carl Schwab

Vice president, Procurement and Vendor Management

Trusted by Hundreds of The World’s Most Admired Brands

Proud to maintain the industry’s leading customer retention rate for 20+ years.

Ivalua’s Source-to-Pay Implementation Guide