Ivalua: Accelerating AI-powered contract digitalisation

Dedicated to unlocking greater and faster value across strategic procurement activities, Ivalua has launched a new platform to accelerate AI-powered contract digitalisation and overhaul purchasing optimisation. The new platform also promises supercharged efficiency and visibility in operational activities. 

AI-enhanced Source-to-Contract (S2C)

With its innovative improvements to contract digitalisation, Ivlaua’s platform optimises disparate purchasing activities, extends global e-invoicing compliance, enables virtual card payments, and provides a built-in digital adoption layer. 

Other key features of the platform include:

• Enhancements to AI-powered contract data capture
• Automated updates to risk scorecards of suppliers
• Validation of supplier banking information and ownership to reduce fraud
• Import, view, and update the approved manufacturer list (AML) and approved vendor list (AVL) at the item level
• Automatic mapping of suppliers
• Refreshed contract analytics

Improved compliance and transparency in Procure-to-Pay (P2P)

Continuing to help customers simplify the complexities of purchasing and paying suppliers, Ivlaua offers greater visibility and flexible workflows with its new platform.

Key features include:

• A new purchasing optimisation centre providing a centralised view across all purchasing requisition (PR) line items
• The ability to group items for approval within different PRs
• Rapid deployment of packages for 10 additional countries
• Unique management of OCR and AI-generated invoice data capture rules 

A complete payment solution

With the introduction of Ivalua’s new payment card offering, users can gain greater control over card access and can create a virtual card from any workflow or business process flow to unlock more card usage and spend controls. 

“Our latest release is designed to unlock the new levels of automation and efficiency across Source-to-Pay for our customers. Our AI expertise and technology has come to fruition with Contract Lifecycle Management (CLM), Invoicing and more advancements to come soon. This combined with customer-driven enhancements in purchasing optimization, virtual cards and guided user enablement further demonstrate our focus on delivering innovations that unlock tangible value for our customers,” said Pascal Bensoussan, Ivalua’s Chief Product Officer. 

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Other magazines that may be of interest: Supply Chain Digital, Manufacturing Global

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