Ivalua On Pace for Record Growth in 2015
Redwood City, CA – July 28, 2015 – Ivalua today reported mid-year performance results showing strong growth in new customers and in subscription revenue across all global regions. Bookings for the period ending June 30 grew 64 percent year-over-year.
“Our success as a company has always been tied to the success of our customers,” said David Khuat-Duy, Corporate CEO, Ivalua. “This is definitely a team effort, and it is good to see so many new customers realizing the value of our solutions as we work to help them reach that next level of performance.”
Ivalua provides procurement and finance teams at top performing companies with a cloud-based software suite for managing a global base of suppliers, spend, contracts and strategic decision-making. More than 500,000 users log into Ivalua’s solutions every day, and last year the company grew revenues by more than 40 percent while expanding its regional presence across new countries in Europe and North and South America.
Ivalua delivered strong financial performance in the first half of 2015. Highlights of the first two quarters of the year include:
- 20 new customers
- 65 percent year-over-year bookings growth
- 98 percent cumulative customer renewal rate
- 60 percent growth in channel partner-driven revenue
“We’re encouraged by the market response to Ivalua and our solutions,” said Dan Amzallag, CEO, Ivalua, Inc. “Companies today are putting in place a foundation for procurement excellence, and they want technology that delivers strong bottom-line results. The companies that choose Ivalua tend to be market leaders, and they value a single platform solution that easily integrates with existing systems and that is well aligned with their needs.”
New Customers & Deployments
In the first half of 2015, Ivalua added more new customers than at any previous time in the company’s history. One of the most significant new deals was Scotiabank, one of the largest banks in North America.
“Scotiabank needed a comprehensive solution that would allow us to more effectively manage the source-to-pay process, as well as improve enterprise visibility into supplier performance and risk. Ivalua’s integrated solution and experience in the financial services industry made it the clear choice for us,” said John Moran, Senior Vice President of Finance at Scotiabank.
In addition to Scotiabank, more than 20 new customers selected Ivalua in the first half of the year including Serta Simmons Bedding and Sheridan Healthcare. In addition, a record number of large customer projects went live, including major initiatives at Altisource, Centralized Supply Chain Services (CSCS), Select Medical Systems and Whirlpool Corporation.
In the past six months, Ivalua released a series of system-wide enhancements to its industry-leading software solution. Unlike other cloud-based enterprise applications, Ivalua’s unique architecture and automated methodology for maintaining customer instances, known as “The Factory,” allows customers to choose when and how to best deploy any new enhancement.
New features and enhancements include:
- Universal Search, a powerful system-wide tool that anticipates inquiries and probes all data including attached documents and files;
- Walk-up Item Catalog, a simplified and completely redesigned interface for purchasing, aligned with contemporary web standards for product searches and e-commerce;
- API Workbench, a set of pre-configured technical interfaces as well as a toolkit to easily configure standard adapters across the entire Ivalua platform.
Ivalua’s growth in recent quarters is also driving key industry watchers to recognize the company’s strengths. Ivalua was one of 14 companies reviewed by Gartner, Inc., for its 2015 Magic Quadrant for Strategic Sourcing Application Suites. In the report, Ivalua made a significant leap from a “challenger” in 2013 to a “leader” this year in an extremely dynamic market segment. In addition, Ivalua was named to the influential 2015 Spend Matters “50 to Know” list, indicating key organizations that top procurement executives need to know.