Ivalua named a Market Leader in the Ardent Partners 2024 Strategic Sourcing Technology Advisor

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This article is brought to you by Retail Technology Review: Ivalua named a Market Leader in the Ardent Partners 2024 Strategic Sourcing Technology Advisor.

Ivalua, a global leader in spend management solutions provider, has been named a Market Leader in the Ardent Partners "2024 Strategic Sourcing Technology Advisor." The report evaluated the 8 vendors Ardent identified as solution and market leaders in the strategic sourcing space, placing Ivalua in the Market Leaders Quadrant based on its solution and provider strength.

The report placed Ivalua strongly in the Market Leaders quadrant with an assessment of good or market leading in every individual capability evaluated, noting "robust functionality across all modules". It also specified the advantages to transparency and the user experience of Ivalua's platform being truly unified with a single code base and data model. The report highlighted particular strengths in the following areas:

  • Generative AI. The report noted that Ivalua is a "pioneer when it comes to deploying Generative AI and has already released nine use case capabilities in strategic sourcing. Customers can use the AI tools as designed or build upon them with their own configurations."
  • Direct Materials. The report noted that Ivalua's platform can support all categories of spend. While most providers can support indirect goods, direct requires specific, advanced capabilities and the report noted that "Ivalua has built the market leading solution for direct materials sourcing and materials master data management."
  • Supplier Management, noting that "Ivalua offers market-leading supplier management capabilities, especially when it comes to supplier master data management, supplier risk management, and supplier collaboration."

Effective strategic sourcing is critical to several top business objectives, including increasing profitability, ensuring supply resilience, improving sustainability and ensuring compliance with regulations. Ardent Partners defines strategic sourcing as "the business process that leverages process automation tools to quickly identify, evaluate, negotiate, implement, and adjust the optimal mix of goods and services that best support the constantly evolving objectives of the enterprise." Core technology solutions in scope of this evaluation include Spend Analysis, eSourcing, Contract Management and Supplier Management.

"Ivalua is proud to be recognized by Ardent Partners as a Market Leader in this comprehensive assessment of Strategic Sourcing capabilities," said David Khuat-Duy, Founder and CEO of Ivalua. "For organizations to succeed in today's complex and uncertain market, they must be able to effectively manage their suppliers. Ivalua's innovative approach provides the transparency, automation and collaboration capabilities needed to select, monitor and engage all suppliers."

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