Continued recognition from top analysts and rapid growth spanning all regions
Redwood City, CA. February 17, 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced another record year in 2020. The company continued to grow rapidly, achieving record new subscription sales, customer acquisition and revenue.
Empowering Procurement & Supply Chain Leaders Across the Globe
New customer acquisition drove annual subscription bookings growth of over 30%, with growth across all major regions. Nearly 60 new customers signed with Ivalua, including Danske Bank, Navistar, state of Alabama, Coca Cola Philippines, Millicom, Leaseplan, Ahlsell, Music Tribe, Parkland, SoFi, and many others. Hundreds of the most admired companies from Europe, the U.S., Canada, the Middle East, South America and Asia are now using Ivalua’s platform to power their digital transformations, improving efficiency, reducing costs, managing risk and growing revenue.
“We are proud that our platform helped so many organizations better manage the Covid-19 pandemic,” said David Khuat-Duy, Corporate CEO of Ivalua. “Our customers’ continued success remains the key driver behind our own. I am proud to announce yet another year of rapid growth in sales and new customer acquisition.”
Continued Analyst Recognition for Excellence
In 2020, Ivalua continued to be recognized as a leader by top analyst firms and industry organizations. Ivalua was again positioned as a Leader by Gartner in the 2020 “Magic Quadrant for Procure-to-Pay Suites. Ivalua received further recognition for its P2P suite, being awarded the best P2P Specialist Provider by an independent panel of industry veterans at the 2020 World Procurement Awards for the second consecutive year. Ivalua was also again positioned as a Leader by Forrester Research Inc. in “The Forrester Wave™: Supplier Risk And Performance Management (SRPM) Platforms, Q3 2020.”
Ivalua continued to expand investment in R&D, announcing a range of innovations to help customers better manage their spend and suppliers. A focus in 2020 was on helping organizations better manage their Covid-19 response, when resilience and rapid value became top priorities for many, and prepare for restoring growth. Innovation highlights included:
- Sub-tier supplier management, which greatly improves visibility and collaboration deep into the supply chain to identify supplier dependencies, areas of high risk or opportunities to drive innovation. The Covid-19 pandemic exposed the vulnerability of companies to their sub-tier suppliers so this innovation greatly improves resilience planning
- Sourcing decision center that empowers users to better conduct scenario analysis and make smarter supplier selection and allocation decisions
- Improved collaboration capabilities to better connect, share information and manage initiatives such as CSR and co-innovation with suppliers and internal stakeholders
- Significant advancements in AP Automation to improve automation and cash management
- Many other innovations spanning the Source-to-Pay process
As organizations faced urgent requirements in the face of the pandemic, Ivalua also launched a series of innovations to deliver value faster. New jump-start offerings that enable customers to deploy sourcing or supplier risk and performance management capabilities in under 4 weeks were launched early in the year.
Building on its growing success serving public sector, financial services and manufacturing customers with pre-packaged industry solutions, Ivalua expanded to also offer healthcare and construction solutions. These pre-packaged solutions deliver tailored capabilities and best practices in the same or faster time than competitors can offer generic solutions. Ivalua also achieved FedRAMP Ready status for moderate impact certification and is now listed on the FedRAMP Marketplace. This both reinforces the high level of security Ivalua’s platform delivers and supports Ivalua’s growing penetration of the public sector market, in the U.S. and internationally.
“Companies should not have to compromise between rapid time to value and the flexibility to grow over time,” said David Khuat-Duy, Corporate CEO of Ivalua. “We remain committed to accelerating time to value while ensuring our customers have the very best technology for their current requirements and to ensure agility in tomorrow’s uncertain market.”