Ivalua Announces Record Results – Another Source-to-Pay Provider Going Strong

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Continuing our review of major procurement software firms and their recent announcements, today it is Ivalua’s turn. We covered their conference back in late 2015, and as our first major exposure to the firm, we were impressed by their products as well as the snazzy Champs Elysees venue! The firm has French origins, although the global HQ is now in Silicon Valley, and has quite broad geographic strength whilst France and the US are the two dominant customer markets still. The last year has also see a push into the UK - a measured push rather than a huge bulldozer-type shove – but one that is starting to reap rewards in terms of sales.

Ivalua has had a remarkably constant senior management team, with the founders all still involved 15 years on from their beginnings. The Ivalua suite of products is one of the most extensive in the industry, and is all built on the same platform so has none of the integration issues that some competitors face. The solutions range through end-to-end purchase-to-pay, sourcing, analytics, contract and supplier management, as well as some more esoteric (or perhaps just unusual) offerings such as Procurement Project Management, Asset & Tooling Management and Savings Tracking.

Their recent announcement highlighted a very good 2015 for the firm.

“Ivalua, the leading global spend management solutions provider, announced today the company has had another record year, winning more customers than in any other year in its history. Ivalua achieved a 100% increase in customers and new partner deals, in addition to launching major updates to its spend management suite. The company was also proud to be named a leader in the Gartner Magic Quadrant for Strategic Sourcing Application Suites.”

There were also impressive customer retention figures, with a 98% renewal rate and there is now a community of around 250 customers across 70 countries.  As we reported from the event, there has been a pretty regular stream of interesting product enhancements coming on stream over the past year or so: 8 major product innovations according to the statement. That includes:

the Ivalua AddOn Store, a major new capability across the Ivalua suite of procurement solutions and Dynamic Discounting, a new module enabling real-time interaction with suppliers during the payment cycle to drive savings by modelling and executing early-payment options...  a new capability within Ivalua’s invoicing solution: Invoice Data Capture, that instantly captures, converts and manages unstructured invoice data received in non-standard formats and add them to ongoing workflows, with self-learning data cleansing algorithms.”

There was also activity around the partner network, a key success factor for any procurement software firm these days.

“In 2015, Ivalua extensively increased its partner network signing strategic deals with IT consulting firm T-Systems and Consus, one of the largest sourcing and procurement service providers in Asia, as well as several other partners chosen carefully for their ability to offer extra value to customers”.

Although this recent announcement does not quote the number, we understand revenues last year were around 25 million Euros. And the firm does appear to be picking up market share, although it is difficult to tell precisely, particularly as the overall market is certainly growing. But they are certainly one of a handful of credible source-to-pay, single platform but broad functionality “independents” who can compete in global deals against the ERP-based giants of the industry – and their 2015 performance appears to reflect that position.

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