cloud technology financial technology
Published on : Dec 12, 2022
Ivalua, a global leader in spend management, today announced that it has been named a Leader in the 2022 Gartner "Magic Quadrant for Procure-to-Pay Suites" for the 4th consecutive year. The Gartner report evaluated procure-to-pay (P2P) solutions from 16 different software vendors across a broad set of criteria, placing Ivalua in the Leaders Quadrant based on its ability to execute and completeness of vision.
During this highly uncertain and inflationary period, organizations are turning to Procurement for critical cost reductions, stronger supplier relationships, and reliability of supply all while pushing forward on innovation and sustainability efforts.
P2P suites are a key component of delivering on such initiatives as they optimize the purchasing and payables process, support improved financial controls and compliance, drive cost savings, and mitigate third-party risk. They can also improve sustainability by guiding users to lower carbon products, improve traceability and accountability, and help improve supplier relationships with timely invoice and payment processing.
"We started by deploying standard out-of-the-box functionality in Ivalua with a focus on achieving early and quick wins. We then reviewed our entire process by applying lean management principles and embedding stakeholders' feedback", said Yannick Caharel, Global CPO at BVLGARI. "The flexibility of Ivalua's platform allowed us to evolve with the organization's needs, which accelerated adoption and generated further efficiencies and cost optimization."
"Ivalua is proud to once again be recognized by Gartner as a Leader in Procure-to-Pay," said David Khuat-Duy, Founder and CEO of Ivalua. "Our focus on closely innovating together with our customers and partner ecosystem allows us to implement best practices tailored for unique industries and provide an optimized user and supplier experience. I'd like to thank our teams, our customers, and our partners."