Ivalua, a leading provider of global Spend Management cloud solutions, today announced that it has been awarded as the Best P2P Specialist Provider by an independent panel of industry veterans at the 2020 World Procurement Awards. Ivalua also received this award in 2019.
Now in their 14th year, the World Procurement Awards are the most celebrated and sought-after awards in procurement, recognizing the most progressive people, projects and organizations across the globe. The awards were announced on November 5 at a virtual ceremony hosted by Procurement Leaders. All entries endure a thorough three-stage judging process, comprising scoring, peer reviewing and final judging meetings, to ensure complete transparency and guarantee that the winners really are the best of the best. The judging panel consists of procurement experts with each category requiring a minimum of 5 judges.
Procure-to-Pay technology has been particularly important during the Covid-19 pandemic as it helps organizations capture negotiated savings to protect profitability, ensure employees are productive when remote and better manage cash flow, among other benefits.
In explaining the award, the judges noted that “Ivalua’s flexible approach allows its solutions to grow and evolve with the needs of its customer base, and with a customer retention rate of 98% over the past decade, the company is clearly doing something right.” “Ivalua provides the type of innovation that organizations require to thrive in the modern business environment.”
The awards continue the ongoing recognition of Ivalua’s Procure-to-Pay suite. In the past year Ivalua was also named a Leader in the Gartner “Magic Quadrant for Procure-to-Pay Suites” for the 2nd consecutive time and recognized as a Leader by Forrester Research Inc. in by Forrester Research Inc. in "The Forrester Wave™: eProcurement Platforms, Q4 2019.”
David Khuat-Duy, CEO and Founder of Ivalua, said, “We are honored to once again be recognized for P2P excellence by industry leaders at the world’s most prestigious procurement awards ceremony. This recognition further demonstrates that with Ivalua, companies never have to compromise between having best-of-breed capabilities and a complete, unified source-to-pay suite.”
Ivalua is a leading provider of cloud-based Spend Management solutions. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, lowering risk and improving employee productivity. Trusted by hundreds of the world’s most admired brands and recognized as a leader by Gartner and other analysts, Ivalua maintains the industry’s leading 98%+ customer retention rate. Learn more at www.ivalua.com. Follow us at @Ivalua.