Ivalua launched Intelligent Virtual Assistant (IVA), powered by generative AI, designed to improve efficiency and enable faster, more effective decision-making regarding their suppliers, contracts and spend.
“We’re incredibly excited to unveil IVA powered by Gen AI,” says Pascal Bensoussan, chief product officer at Ivalua. “Procurement teams are inundated with a growing set of responsibilities, but without the additional resources to support. Gen AI has the potential to significantly impact procurement and accelerate various activities within the Source-to-Pay process, freeing up time for more strategic focus. We strongly believe that by putting this technology in the hands of our customers and partners to build their own Gen AI powered use cases, we will co-innovate faster and better”.
Key takeaways:
- Seamlessly integrating into daily procurement operations, IVA empowers teams to redirect their focus toward strategic initiatives.
- It also offers transformative potential to accelerate time-consuming content-related tasks, such as research, analysis, content creation, modification, and summarization. The key is applying it in targeted, high value use cases.
- Features include supplier research; category and market insights; legal assistant; RFP assistant; enhanced communications; generate improvement plans; and chat with documents, such as supplier ESG reports, certifications, contracts, 10K filings, invoices and more.
