Ivalua posts record year, bumps up against 100% growth in new customers
Announcing 30 new customers, 8 major product innovations and a place in the leaders’ Quadrant from Gartner.
Redwood City, CA – March 29, 2016 – Ivalua, the leading global spend management solutions provider, announced today the company has had another record year, winning more customers than in any other year in its history. Ivalua achieved a 100% increase in customers and new partner deals, in addition to launching major updates to its spend management suite. The company was also proud to be named a leader in the Gartner Magic Quadrant for Strategic Sourcing Application Suites*.
Business Growth & New Customers
Ivalua delivered strong financial performance in 2015, announcing more than 30 new customers in 2015, including Scotiabank, Serta Simmons Bedding, Sagemcom, GKN, University of Chicago, Lucchini RS, BCLC, and MNH. Ivalua is also continuing to expand its global presence with new customers in Asia including Phoenix Petroleum and Graphite India.
“2015 was a record-breaker for Ivalua, as we won twice as many customers as in 2014, ending the year with a 100% increase in new customer deals. Leading companies are discovering Ivalua offers a highly effective technology foundation to automate and centralize all major procurement and finance processes, quickly affecting operational performance and bottom-line results. Ivalua customer count now reaches more than 250 customers across the world,” says Daniel Amzallag, CEO at Ivalua
Industry Analysts Recognize Ivalua as a Leader
Among the 14 different competitors reviewed by Gartner, Inc. Ivalua made a significant leap in the 2015 Magic Quadrant for Strategic Sourcing Application Suites*, jumping from a “challenger” to a “leader” in an extremely dynamic market segment.
“Over the past few years, Ivalua has been considered an innovator in the area of spend management technology that puts company needs and usability at the core of its offering,” said David Khuat-Duy, Ivalua Founder & Corporate CEO. “We believe the journey from being a Niche Player just a few years ago to being considered a Leader today is due to our strong customer community and our focus on continuously increasing solution capabilities and overall excellence.”
Biggest growth ever in partner network
In 2015, Ivalua extensively increased its partner network signing strategic deals with IT consulting firm T-Systems and Consus, one of the largest sourcing and procurement service providers in Asia, as well as several other partners chosen carefully for their ability to offer extra value to customers. Ivalua’s partners around the world include both strategic technology partners and implementation partners, who are a vital element of Ivalua’s success.
“IT partnerships with leading technology and software enterprises are among the many strengths of T-Systems. We’ve identified Ivalua as the most innovative and the market best performing Spend Management solution. With Ivalua we are now offering the Best-in-class source-to-pay solution, expanding our target markets and creating genuine benefits for you as our valued customers,” says Stefica Hadlich, Vice President Enhanced Cloud Partnering at T-Systems.
New Products & Features
Ivalua also announced a series of new products and innovations at Ivalua On Air, the company’s global cinema-themed event on October 2015 in Paris. Speaking to a full crowd, Ivalua Corporate CEO David Khuat-Duy announced the launch of the Ivalua AddOn Store, a major new capability across the Ivalua suite of procurement solutions and Dynamic Discounting, a new module enabling real-time interaction with suppliers during the payment cycle to drive savings by modeling and executing early-payment options. Khuat-Duy also demonstrated a new capability within Ivalua’s invoicing solution: Invoice Data Capture, that instantly captures, converts and manages unstructured invoice data received in non-standard formats and add them to ongoing workflows, with self-learning data cleansing algorithms.
Successful Customer Deployment
Ivalua closed a record year including 20 new customers in production deployments in 2015, across all industries, reaping the benefits of a series of system-wide enhancements to its industry-leading software solution to accelerate performance, simplify deployment, increase stability and enable a high level of agility across all functions and roles.
“Ivalua’s solution has proven to be extremely efficient in helping us manage complex sourcing processes and capture huge saving opportunities. We deployed the Ivalua solution rapidly and achieved ROI within a few weeks,” declared Francesco CANTONI, Strategic Procurement and Supply Chain Manager at Lucchini RS.
The biggest event so far
In addition to its Ivalua On Air conference, Ivalua held its first Ivalua Now conference in Virginia, US in 2015. Ivalua Now is an exciting new event format for Ivalua customers looking to get the most from their Ivalua platform and to connect with peers and colleagues across Ivalua’s growing network of North American customers. The two events had a combined attendance of 500+ attendees.
Ivalua has a busy year ahead, with key announcements coming soon. In addition to developing the core Ivalua product, the company will also be developing its product offerings to provide even faster onboarding for new customers and to show its capabilities for additional business use cases.
Located in the heart of the Silicon Valley, Ivalua is the leading provider of Spend Management Cloud Solutions and recognized by top Analysts as a global market leader.
Our success is reflected in a 98% renewal rate within an active and engaged community of 250 customers across 70 countries achieving high performance empowered with the Ivalua Solution.
Our customers realize huge and rapid savings by improving visibility, streamlining and standardizing processes and increasing Procurement and Finance productivity. But the overall value from Ivalua goes far beyond immediate savings: Procurement teams also actively contribute to accelerate innovation, enable company growth, mitigate risks and increase compliance. Ivalua is committed to building sustainable business partnerships with its customers and actively supporting them in their journey towards business excellence.
* Gartner, Magic Quadrant for Strategic Sourcing Application Suites, published February 4, 2015 by Deborah Wilson, Richard Adams, Magnus Bergfors