Purchasing management, also known as the source-to-pay process, plays a vital role in the overall operation of a company. It encompasses all the elements involved in acquiring the goods and services necessary for conducting business activities. To effectively handle your source-to-pay supply chain process, utilizing purchasing management software like Ivalua can be incredibly beneficial. At Lemon Learning, we can introduce you to Ivalua and demonstrate how it can streamline and simplify purchasing management in your company.
An introduction to Ivalua
Ivalua source-to-pay software is a solution provided by a French startup founded in 2000 by David Khuat-Duy. In 2019, the startup secured an impressive $70 million investment from the KKR investment fund. As of now, Ivalua has achieved unicorn status with a valuation of $1 billion. The startup also hosts the annual Ivalua Now conference, bringing together industry experts in purchasing and supply chain management to exchange valuable insights.
Business benefits
Ivalua’s purchasing management software has achieved great success due to its numerous benefits for companies.
✅ Centralized purchasing management
With Ivalua software, you can optimize your purchasing management through the power of centralization. With all purchase-related data consolidated in a single unified location, including suppliers, procured goods or services, their attributes, and status, you gain easy access to a comprehensive overview of your entire procurement process. This streamlined approach empowers seamless actions within your supply chain, making procurement more efficient and effective.
✅ Cost optimization
Ivalua empowers your business by providing the capability to optimize procurement costs. By leveraging historical data, you can analyze past purchases and improve expense management. This, in turn, results in reduced production costs and enhances your business’s competitiveness in the market. With Ivalua, you have the tools to make data-driven decisions that drive cost savings and strengthen your position in the industry.
✅ Improved compliance
Ivalua software provides the opportunity to enhance your company’s compliance with greenhouse gas emissions regulations. Through the Environmental Impact Center module, you can collaborate with suppliers to establish emission reduction protocols. This involves setting reference thresholds that suppliers should not exceed. By implementing these measures, your purchasing management department actively supports the company’s dedication to sustainable development.
✅ Process automation
In your day-to-day operations, Ivalua software can simplify your tasks by automating time-consuming and resource-intensive processes:
- Accounting processes
- Supplier performance campaigns
- Follow-up of supplier contracts
The automation features provided enable significant time and productivity savings in purchase management.
✅ Data-driven analysis and decision-making
Making relevant decisions and effectively managing expenses in your business relies on a thorough analysis of the available data. However, this task can become challenging when data is scattered across multiple sources and lacks proper categorization. Luckily, Ivalua’s centralized data approach eliminates this concern.
With Ivalua, your data is consolidated and presented in real-time, offering you a comprehensive view of your purchases. You’ll gain access to high-quality reports, insightful dashboards, and in-depth analyses. What’s more, the Ivalua software automatically generates actionable decisions that can be implemented directly from the reports or dashboards, streamlining the decision-making process even further.
Get started with Lemon Learning
Although Ivalua purchasing management software offers significant value to companies, getting started with it can be a complex process. To unlock the benefits and time to value of Ivalua, we highly recommend using Lemon Learning. Our solution integrates comprehensive guides directly within the Ivalua platform, providing a step-by-step learning experience to help you master the software for purchasing management. These learning materials can be easily created by a team member who is already familiar with the Ivalua solution.
By choosing Lemon Learning, new users of Ivalua can efficiently train within the platform itself, gaining independence and real-life experience. This practical training approach allows for rapid mastery of the purchasing management software and its various components. Lemon Learning seamlessly integrates with all Ivalua tools, including:
- Supplier management
- Sourcing
- Contract management
- Billing
New user are empowered to train autonomously within Ivalua thanks to the Lemon Learning solution. Companies no longer need to invest in expensive and wasteful training, saving money in the long term. Training with Lemon Learning also reduces the pressure on technical support teams in your company, helping to cut support costs in half.
