Sourcing
Simple, collaborative and powerful sourcing solutions to meet any sourcing needs
See Ivalua's Sourcing Solutions in Action
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Source ALL Spend
Yes, ALL of it: Indirect Spend, Direct Spend , Services and CapEx spending
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Unparalleled Project & Initiative Transparency
Holistic management and transparency across activities with Projects, Programs and Category Management.
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Optimal Supplier Selections
Have confidence in your supplier selection process, every time, for all procurement sourcing activities.
What is Sourcing?
The Sourcing Process encompasses all the activities related to identifying, evaluating and ultimately supplier selection in order to find the best supplier for goods and/or services. The end result is typically a contract between the buyer and supplier that dictates the pricing, terms and conditions for the goods and/or services in question. The sourcing process can involve market research, an RFI, an RFP, contractual negotiations and more. Many organizations have successfully automated the sourcing process in order to be more efficient and access data and insights to make the best decisions. Pricing tends to be a big component but other factors are increasingly taken into account such as location, reputation, sustainable sourcing and supply chain diversity.
Discover Ivalua's Sourcing Software
Supercharge your sourcing process
From spot bids to complex procurement sourcing projects involving direct materials, customers achieve results fast.
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With Ivalua, we realized tremendous speed-to-value and benefit from a simpler and more focused source-to-contract solution. We have already achieved 10x ROI in a very short time.Learn More
Strategic Sourcing
Sourcing in business Projects & RFX
End-to-end strategic sourcing process management for ALL spend types
- More effective sourcing project management: Define and track project progress, teams involved, communication, documents, tasks, dependencies and more.
- Easier collaboration with Sourcing and Procurement teams: Gather key stakeholder requirements and collaborate with flexible workflows.
- Start fast: Create or reuse different types of RFx templates, questionnaires and workflows to get started fast.
- Have the right information for analysis: Collect any level of quote detail that is needed, from simple piece price to the Total Landed Cost from suppliers.
- Achieve the best outcome: Analyze all scenarios by scoring and comparing bids, optimization, split awards by percent, quantity or value and simply flip an RFX into a contract.
- Manage All Spend: Indirect spend, direct spend, CapEx spending and Services, without compromises.
Category Management
A 360-degree view, or “cockpit”, for strategic category action and perspective
- Create, manage & execute category management strategy: Define and roll-out category-wide objectives, category action plans, the plan & tasks and incorporate all relevant organizations, stakeholders, suppliers to ensure all are working towards the same objectives.
- Socialize sourcing strategy and collaborate: Efficiently collaborate and share knowledge across teams to ensure a consistent and comprehensive strategy for a given category.
- Monitor, and see the impact: Leverage analytics and KPI’s to monitor all aspects of category spend and risk and track category action plan savings with Savings Tracking.
- Continuous improvement: Identify additional improvement opportunities, continuously analyze spend, market data, and benchmarks.
Savings Tracking
Know how your hard work is making an impact
- Establish goals and track progress Plan annual savings goals for the sourcing team and track negotiated savings at individual, team, and business level.
- Aggregated view Roll up all sourcing strategy work for an aggregated view of savings vs. the goal, even incorporating actual spend from invoices in the reporting.
- Project management Organize a team and project manage their tasks, dependencies, and timing.
Program Management
Better organization and management of strategic sourcing initiatives
- Manage all programs and related projects Keep track of sourcing process, projects, transactions, and the stakeholders that are involved.
- Visibility and participation across stakeholders Enable stakeholders outside of sourcing and procurement to communicate, plan, manage tasks, upload docs and track progress of projects they are involved in.
- Direct access to information Link projects to sourcing, contracts, requisitions, purchase orders, supplier invoices, supplier performance evaluations, etc. for a full view of all activities in sourcing and procurement that affect the project.
Sourcing Decision Center
Make the right allocation and supplier selection decisions, every time
- A seamless end-to-end sourcing process: Natively integrated with Sourcing, Contract Management and the whole S2P platform with supplier risk and performance data, providing a seamless end-to-end user experience.
- An intuitive solution designed for all users: A simple user experience combined with automation empowers all organizations and users with the benefits of sourcing optimization across all categories.
- Leverage a library of rules and scenarios: Add pre-built scenarios to quickly analyze and compare allocation options.
- Simple rules creation: Leverage the natural language-based rules builder to simplify the work of building scenarios.
- Make better decisions, faster across all spend: Leverage sourcing process templates with preset optimization scenarios that run automatically giving users immediate access to optimized results, reducing cycle time and standardizing the analysis.
Auctions
Efficiently find the best value
- Launch an auction quickly: Initiate multiple types of auctions from RFQ bids and manage auctions across multiple lots.
- Real-time updates: Receive real-time updates as suppliers bid or message.
- Understand the impact: Graphical auction display and multi-criteria ranking.
- Support for all your strategic sourcing needs: Comprehensive auction type support, manage multiple lots, plus the ability to build equations and transformations.
- Scalability: Unparalleled ability to scale to meet your needs with concurrent bidders, number of items, bids and auctions running in parallel.
What is Responsible Sourcing?
Responsible sourcing, or sustainable sourcing is a commitment by companies to take into account ethical, social and environmental (ESG) factors when selecting suppliers.
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