Ivalua's platform drives AI-powered contract digitisation and purchase optimisation

Greater efficiency with AI-enhanced Source-to-Contract

The seamlessly connected Source-to-Contract process within Ivalua has become simpler and more automated with:

• Enhancements to AI-powered Contract Data Capture across 13 languages and powerful search and discovery results across 100+ key terms, obligations, document types and clause types;

• Automated updates to risk scorecards of suppliers based on changes in risk criteria or external data sources;

• Validation of supplier banking information and ownership to reduce fraud;

• The ability to import, view, and update Approved Manufacturer List (AML) and Approved Vendor List (AVL) at the item level;

• Automatic mapping of suppliers to items based on category strategies and qualifications;

• Refreshed contract analytics with updated reports covering contract approval cycle times, clause usage and deviations, and much more.

Increased transparency and compliance in Procure-to-Pay

Ivalua's Procure-to-Pay solution streamlines supplier engagement and payments through heightened visibility and adaptable workflows. The introduction of a Purchasing Optimisation Centre offers a centralised perspective of all purchase requisition (PR) line items, facilitating consolidation and efficiency.

This enhancement grants procurement the capacity to combine multiple items from different PRs into a single rapid sourcing event, with automatic PR updates following an award. Notably, items spanning distinct PRs can now be grouped for streamlined approval, allowing for distinct approval workflows triggered within a singular PR. Additionally, the solution introduces expedited deployment packages for 10 new countries, namely Australia, Austria, Denmark, Hong Kong, India, Malaysia, Mexico, Netherlands, Portugal, and Qatar.

A distinctive feature involves the tailored management of Optical Character Recognition (OCR) and AI-generated invoice data capture rules, affording the flexibility to refine underlying rules for optimization, thereby eliminating opacity.

Incorporating Virtual Cards for a complete Payments solution

Ivalua’s new Virtual Card capabilities are now part of their Payment Cards offering. This offers greater control over card access and opens the possibility of creating a Virtual Card from any workflow or business process flow, thereby unlocking more card usage and spend controls within an organisation. All spend is tracked and linked to a user, department, and approved budget.

Accelerated usage and adoption with Ivalua Guides 

Digital adoption platforms are effective in accelerating usage, adoption, and employee satisfaction by navigating users to complete tasks autonomously. Built into the Ivalua Platform, users are rapidly guided to learn new activities, processes or features and ramp up adoption. These in-app guides can be created within minutes for continuous improvements to Source-to-Pay processes.