Ivalua Named as a 2022 Technology Leader in Quadrant Knowledge Solutions’ SPARK Matrix for Source-to-Pay (S2P) Suites, 202N
Quadrant Knowledge Solutions announced today that it has named Ivalua as a 2022 Technology Leader in Quadrant Knowledge Solutions’ SPARK Matrix for Source-to-Pay (S2P), 2022, with the strongest position on the Technology Excellence axis of all vendors evaluated.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global S2P market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading S2P vendors in the form of its SPARK Matrix, providing strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market position.
The Source-to-Pay (S2P) suite automates and optimizes end-to-end sourcing and procurement processes to improve internal controls, enhance supply chain processes, offer comprehensive spend visibility, and mitigate supplier risk & compliance. The S2P suites’ native and comprehensive capabilities help organizations standardize procurement processes and minimize TCOs to quickly react to changing business scenarios, opportunities, and challenges. It also provides a single consolidated suite for organizations to gain complete visibility by centralizing the entire procurement data and making informed procurement strategies.
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Currently, organizations are focusing on developing an advanced S2P suite by leveraging AI/ML technologies to offer a unified solution for managing users’ demand for procurement services. This S2P suite helps organizations mitigate risks and comply with future regulatory requirements. As the S2P suite is composed of scalable solutions that can be easily expanded across the user’s supply chain network, the S2P suite helps eliminate obsolete custom-made systems that possess expensive maintenance. Vendors in the procurement space are heavily targeting their investments to ensure product competency and gain business advantage.
Ivalua’s comprehensive S2P platform offers strong supplier management capabilities that help organizations gain unified visibility into all the supplier’s related information and activity including the sub-tier network, supplier performance, and risk management. The supplier portal centralizes information, including transaction history, certificates, RFXs, contracts, evaluations and procure-to-pay activities. Furthermore, the e-procurement and invoice-to-pay capabilities helps organizations to enhance the buying experience, maximize compliance, and provides end-to-end management of direct and indirect transactions. The platform also enables businesses to improve collaboration, configure workflows, set up alerts, and approve documents from anywhere on any device. For direct materials spend, Ivalua enables complex direct materials sourcing as well as supply chain collaboration across forecasts, planned orders and vendor managed inventory.
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According to Sujan Thomas Mathew, Analyst, Quadrant Knowledge Solutions, “Ivalua’s source-to-pay (S2P) platform enables organizations to gain real-time visibility into their spending, sourcing processes, contract management, supplier relations and desired KPIs. The S2P platform provides a comprehensive procurement solution with added focus on visibility, collaboration and automation.” Sujan further adds, “Ivalua’s technology partners enable organizations to be agile by offering a breadth of personalized adoption, crisis management, process management and innovation management capabilities. Ivalua also offers multiple quick deployment options to reduce go-to-market time to just a few weeks.”
“As procurement organizations mature and take on ever more strategic objectives, integrated Source-to-Pay platforms are critical enablers of success,” said David Khuat-duy, CEO of Ivalua. “They provide the automation, insights and collaboration capabilities needed to make informed decisions quickly and work with suppliers to drive results. At Ivalua we welcome objective, detailed assessments of technology to better help procurement leaders evaluate such platforms and are proud to be recognized by Quadrant Knowledge Solutions as a technology leader.”
