[March 23, 2017] |
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Ivalua Raises the Bar - Unveils Industry Solutions, Process Packages, Primary Supplier and Item Master Data Management, and Other Innovations
Ivalua,
the global leader in cloud spend
management solutions, today announced the availability of
Industry-specific solutions for 5 verticals, pre-defined process
packages for quick time-to-value in 7 common spend management scenarios,
primary master data management for suppliers and item data, and other
enhancements to simplify sourcing complexity, improve process control
and user experience.
Ivalua has the fastest R&D update cycle with over 95% of enhancements
conceived and released in less than a quarter. Over 60% of enhancements
are directly inspired by clients, with the remaining coming from market
research and analysts.
Key Innovations Announced Include:
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Industry Solutions with Advanced Functionality - deep
industry-specific functional support for companies operating in:
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Manufacturing:
advanced functionality includes Cost Breakdown Analysis, Bill of
Material (BOM) Centric Sourcing, Build-to-Order Sourcing, NPI
Management, Deeper Project Management, Mass Supplier Deliveries,
Raw Materials Price Variance, Approved Supplier Lists by Plant &
Commodity, Supplier Risk Profiles, Supplier Improvement Plans/
Targets, Supplier and Item Master Data Management.
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Banking
& Financial Services: advanced functionality
includes Multi-Envelope Bidding, Contract Compliance, SLA
Management with self-service evaluation scorecards, Services Rate
Cards and Profiles, Third Party Information management (to meet
OCC guidelines), Risk Tracking from Idea through Contract.
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Public
Sector: advanced functionality includes Federated
Procurement approach, Multi-Envelope Sourcing, Public RFX, Nothing
is Impossible Workflow, Accessibility support, Validation and
Alerting, SLA Management, Services Rate Cards and Profiles.
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Healthcare:
advanced functionality includes GPO Price Sourcing and Management,
In-flight Product Substitution on a PO, Partial period Invoicing
and Reconciliation, Easy to order repetitive items, Provider
Contracting, Support for HIPAA, Configurable fields for
manufacturer, distributor, internal item codes, Mapping of Health
Care commodities to UNSPSC, Mobility for "on the go" physicians.
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Oil,
Gas & Energy: advanced functionality includes Spot
Sourcing of requests within preferred suppliers, Spot awards to
on-site Suppliers, Field Service Request based procurement, MSA
and Blanket Orders, Assets and Tooling, Stingent review of
Supplier safety practices & credentials, Supplier access to
contracted items and rates for service estimation, Sourcing of
outcomes vs. materials (e.g. square footage drilled vs. drill bits)
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Pre-defined Packages for Quick Time-to-Value - for 7 common
spend management scenarios; Packages
include pre-assembled, standard functionality and services, and help
customers realize value quickly:
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Primary Master Data Management for Supplier and Item Data-
Ivalua to serve as primary supplier or item/ service master. Enables
customers to spend less time and effort while lowering compliance risk.
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Supplier/
Vendor Master Data: Ivalua as the primary source of truth
for supplier data across the enterprise; easily sync and update
supplier master data between Ivalua primary record and secondary
supplier tables in ERP and legacy systems.
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Item/
Service Master Data: Ivalua as the primary source
of truth for item and service data across the enterprise; capture
comprehensive item and service information in one place by using
out of the box Item master and easy configurations to capture
evolving needs for product and services data; easily sync and
update item and service master data between the Ivalua primary
record and multiple other secondary tables in ERP and legacy
systems
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Other Ivalua Update 154 ("IU 154") Enhancements across the Suite:
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Improved Supplier Qualification- for customers looking to
have better controls in supplier management, IU 154 provides the
ability to configure a workflow (configurable by organization and
/ or commodity) to approve each line of qualification.
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Deeper e-Auction support - now supports Dutch Forward and
Index Auctions, Multicurrency bidding and Auction by rank i.e.
Best bid Supplier View option.
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Greater functionality and performance in e-Procurement
- upgraded user options in accounting for asset/expenses, improved
control on PO cancellation process, 85% plus improvement in search
response times for PRs, POs and Invoices.
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Mobile Expense creation - ability to capture expense
receipts on mobile devices, then send as attachments to a
dedicated email address and automatically create a draft expense
items within Ivalua.
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Deeper Spend
Analytics- ability to report a single KPI on dashboard,
display values on charts, export multiple analyses simultaneously
from homepage and improved error management with root cause
alerting during ETL import process
"Ivalua has set a new standard for industry-specific advanced
functionality, pre-defined process packages and supplier/item master
data management solutions that buying organizations should expect from
modern Cloud Spend Management providers", said David
Khuat-Duy, Group CEO of Ivalua.
"I look forward to customers adopting these innovations to support deep
industry and extended Spend Management process needs while quickly
realizing value beyond savings," said Patrick Conquet, Vice President-
Product Management of Ivalua.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170323005154/en/
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