The strategic sourcing process is where Procurement identifies and creates value for their organization. This complex series of business processes includes all upstream procurement activities, from spend analysis and supplier / category management to sourcing projects and contract negotiations.
However, strategic sourcing activities are often not strategic at all but rather tactical and disjointed. Due to inefficient and manual processes, limited access to data and inability to collaborate effectively internally and externally. Further, many organizations have entirely different strategic sourcing systems and processes for direct and indirect spend, but why?
Ivalua offers a completely integrated and intuitive experience across the entire strategic sourcing process, enabling customers to clearly understand their spend, successfully define and execute sourcing and supplier management strategies, have clear actionable analytics and lock in the value with contract management. Our strategic sourcing solution includes:
Spend Classification and Analysis
Sourcing Projects & RFX, Auctions and Category Management
Supplier Information, Performance and Risk Management
Contract Repository, Authoring and Lifecycle Management