Ivalua announced the general availability of its new platform release 166. The release features a broad array of innovations to empower customers to better manage their spend and suppliers. Innovations focus on supporting smarter and faster decisions around supplier relationships and sourcing initiatives, improving the capture and recognition of savings, increasing accounts payable automation and ensuring accessibility for all.
Specific release highlights include:
● Sourcing Decision Center (SDC). Ivalua’s sourcing solution now includes intuitive sourcing optimization capabilities. Sourcing optimization tools have traditionally been for the select few due to the complexity involved. Through its ease of use and native integration with the sourcing solution, SDC will empower any user to leverage optimization and make smarter allocation and supplier selection decisions.
● Sub-tier supplier management. The COVID-19 crisis revealed the risk exposure of many organization’s supply chains due to their suppliers’ suppliers. The new release enables visibility into a supplier’s sub-tier network so customers can better understand their true supply chain risk. A visual mapping of the sub-tier network allows customers to identify supplier dependencies, areas of high risk or opportunities to drive innovation and better orchestrate spend.
● Savings tracking. Significant enhancements to Ivalua’s existing solution allow procurement and finance to easily define, manage and track savings according to their own internal guidelines. Procurement leaders can ensure the significant savings they generate are recognized financially.
● AP automation. The foundations of Ivalua’s next generation Accounts Payable automation solution. With streamlined AP workflow, touchless non-PO handling, and powerful new tax compliance capabilities, invoice processing is now significantly faster. These capabilities ensure customers can process any invoice from anywhere in an efficient and effective manner.
● Web accessibility. Ivalua’s public and supplier portals now meet the requirements of the international standard known as Web Content Accessibility Guidelines (WCAG) 2.1 Level AA criteria to provide access for all workers. This is an area of significant importance to Ivalua and many of its customers, especially in the public sector and EU.
“The COVID-19 crisis has reinforced the importance of having visibility into all levels of a company’s supply chain, and being able to quickly and efficiently analyze scenarios regarding supplier selection,” said Pascal Bensoussan, Chief Product Officer. “With Ivalua’s current release, procurement and supply chain leaders are empowered to do so, not only to address the current crisis, but also to put in place a stronger risk and compliance management discipline for the years ahead.”