Strategy & Analytics
A view into all your projects and all your spend data, like never before
Procurement Metrics that Matter in 2020 Ardent Partners' Annual Survey Results of Chief Procurement Officers
Ivalua Procurement Strategy and Analytics
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Powerful spend analysis
Classify spend on your schedule and identify opportunities to drive value
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Holistic program management
Organize and manage your strategic initiatives, track your successes, and identify any roadblocks
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An eye on performance
Understand performance at operational, contractual and supplier level to drive improvements
Establish the best strategies with insightful analytics
Our solution provides a deep understanding of spend an empowers a layer of analytics and program management connecting all data and activity across the source-to-pay process.
Ivalua really helped us understand spend in a much deeper way. We have real-time updates of the data and full transparency in how items are classified, which really changed the way we are working in Procurement.
Stategy & Analytics
Spend Analysis
Simply understand your spend and uncover opportunities
- Uncover opportunities Identify savings opportunities, track compliance, prevent fraud, measure price variance and much more.
- Simple UI and no black box Use a simple UI, not a complex technical tool and get 100% transparency into the process, know exactly how an invoice is classified.
- Classification, anytime Get spend classifications to any desired schedule - no more spend classification by batch or via lengthy monthly or quarterly refreshes.
- Intelligent classification rules Automatic proposal of classification rules based on activity/data across Source-to-Pay process.
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 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.
Performance Evaluation
Gather and understand performance data to drive smarter decision
- Supplier performance Evaluate and analyze suppliers across multiple performance and risk dimensions and prevent issues before they occur.
- Operational performance Evaluate quality, responsiveness, capacity, productivity, total cost of ownership, and stakeholder satisfaction.
- Campaign management Full campaign management tools to support evaluations (templates, communications, stakeholders, etc.).
- Powerful, robust survey tool Use templates from an existing library or build a new survey to meet business needs.
Program Management
Better organization and management of strategic initiatives
- Manage all programs and related projects Keep track of strategic programs, projects, transactions, and the stakeholders that are involved.
- Visibility and participation across stakeholders Enable stakeholders outside of 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, orders, invoices, performance evaluations, etc. for a full view of all activities in procurement that affect the project.
Advanced Analytics
Deeper analytics designed by you
- Configure cube-based analytics Extend and configure cube-based analytics and dashboards. Customize analytics cubes with indicators and dimension.
- Combine data from various sources Analyze new indicators from ERP, legacy systems or 3rd party sources and combine with your procurement data.
- Build powerful insights Construct custom dashboards for suppliers, executives, lines of business and more without deep technical skills.
Resources
Spend Analytics: Key to Procurement Transformation at Cengage
Read Why they chose Ivalua
