Innovations empower Procurement to increase automation, make more informed decisions and improve the buying experience
Ivalua, a global leader in spend management, announced the availability of Platform Release 160, which introduces new innovations across the source-to-pay process with an emphasis on direct materials sourcing and procurement, contract management and procure-to-pay. This release will enhance the user experience, offer increased efficiency and enable better analytics and visualisation of data, empowering customers to work smarter and more collaboratively while maintaining agility to meet the demands of a rapidly evolving market.
- Key innovations include:
- eProcurement: Ivalua continues to advance guided buying capabilities and address direct materials transactions. Users now have a simple, streamlined and efficient way to buy multiple items with one purchase requisition, including hosted and punchout catalogue items and services.
- Invoicing: An expanded invoicing solution that improves global compatibility, addressing multi-tax environments and helping to ensure compliance to e-invoicing regulations. To facilitate certain use cases that may be time sensitive (e.g., emergency repairs), customers can now create an invoice (or receipt) directly from a contract.
- Contract Management: Improved capabilities around contract authoring and negotiation. Customers will also have a more robust contract amendment process with alerts to notify users of changes as well as a collaboration workflow for contract documents. Improved integration to Microsoft Word for authoring and redlining ensures a familiar user experience, higher adoption, and efficiency.
- Supply Chain Collaboration: New capabilities around Forecast Collaboration and PO Automation / Confirmation facilitate more efficient and digitised supply chain collaboration between buyers and suppliers, reducing cycle times and risk of supply chain disruptions while also securing a stable supply of materials for production needs.
- Direct Materials Sourcing: To help enterprises manage all spend areas and support key initiatives like new product launches, this new release enables customers to manage a product’s bill of materials (BOM) and the related components, costs, and suppliers. Customers can now effectively collaborate with suppliers and team members from the start to launch more innovative, profitable products and better manage associated supply risk.
“This release shows the breadth and depth of our innovation across the source-to-pay process,” said David Khuat-Duy, Ivalua Corporate CEO. “With these new capabilities, Ivalua extends the strength of our natively integrated, complete Procurement platform, which empowers Procurement leaders to transform their departments to best-in-class and beyond and build a true competitive advantage for their business.”