Thursday 1st July, 2021
Ivalua has announced an extension of its source-to-pay platform with a new payments solution to digitise and streamline global supplier payments.
With Ivalua, Procurement and Finance can collaborate better to bring much needed automation, transparency and speed to an often inefficient and costly process. Customers will be able to secure goods and services at the best price and guarantee on-time (or early) payment in an efficient, cost-effective manner. The company said.
Not only does this improve supplier liquidity and support their financial health, but it also strengthens the relationship and solidifies the ‘customer of choice’ status. In a recent study of european suppliers, 65% felt that late payments are putting their company at financial risk. A separate study by Forrester Consulting, commissioned by Ivalua, found that timeliness of and visibility into payments was the top factor influencing suppliers’ willingness to collaborate with and share innovations with a specific customer.
Ivalua’s solution enables secure international and domestic payments in hundreds of countries and currencies, including real-time FX spot rates. All within the same automated workflow, tightly linked to the invoice and procure-to-pay process. This integrated B2B payments experience reduces supplier inquiries, lowers processing costs and provides procurement an additional negotiating lever.