How Ivalua and Visa Will Unlock Capital within Supply Chains
Ivalua, a global leader in spend management, will collaborate with Visa, a world leader in digital payments, to give organisations the power to release the cash locked within payment cycles, drive process efficiency, and enhance opportunities with suppliers.
A leading provider of cloud-based, AI-powered Spend Management software. Ivalua offers a unified Source-to-Pay platform, it empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving sustainability, lowering risk, and boosting employee productivity.
Trusted by hundreds of the world’s most admired brands and recognised as a leader by Gartner and other analysts. It was recently named a Market Leader in Ardent Partners' "2024 Strategic Sourcing Technology Advisor" report.
Through this new collaboration, the pair will enable organisations to simplify and accelerate supplier payments, expanding their card usage with a secure and intuitive user experience that delivers a high level of automation and control.
With a unique approach to address the challenges of controlling spend, Ivalua looks to maximise the financial and efficiency benefits of corporate cards.
With new and innovative capabilities, users can embed cards into any purchasing activity to obtain total control over any pre-approved spend, thus empowering businesses to use not only cards for traditional expenses, but also for a wider range of purchases for catalogue purchases, invoices, and even subscriptions or specific projects. This brings all card spend under control, driving business efficiencies and improving cash management.
Streamlining payment processes with Ivalua and Visa
“Unlike alternative solutions, Ivalua enables its clients to securely manage card usage without compromising potential cash rewards,” says Suman Raju, Chief Financial Officer (CFO) of Ivalua.
“As cash flow remains critical and saving becomes increasingly important, we are delighted to partner with Visa to unlock new levels of payment automation and maximise rebate opportunities for our clients.”
As opposed to other card solutions, Ivalua provides organisations with the ability to identify both suppliers and categories of spend and then reconcile usage back to a user or budget the next day. This level of control is the key to unlocking more card usage and maximising rebate opportunities. This is entirely managed within the Ivalua cloud environment, it significantly enhances card security and prevents misuse.
Enhancing financial control and security
Ivalua empowers numerous private and public sector entities worldwide, ranging from IKEA and Honeywell to Rolls-Royce and seven US states, to streamline procurement processes amidst growing complexities.
Through Ivalua's integrated cloud-based source-to-pay (S2P) platform, clients enhance profitability, foster innovation, boost ESG performance, and mitigate supply chain risks.
The overarching goal is to equip procurement teams with increased automation, enhanced supplier visibility, and efficient collaboration capabilities, driving efficiency and effectiveness.
Empowering procurement teams for efficiency
Clive Cornelius, Head of T&E and Procurement Commercial Products, Visa Business Solutions Europe, adds: “We find that businesses prefer financial services integrated in their ERP/AP systems, allowing them to pay simply and efficiently without having to step out of existing workflow, and we’re excited to work with companies like Ivalua in bringing new solutions and approaches to this market need.”
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