Ivalua Sees Accelerating Momentum with Another Record Year in 2017
February 21, 2018 07:00 AM Eastern Standard Time
Growth driven by new acquisitions of Fortune 500 customers, deeper global partnerships and continued customer success.
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Ivalua, the global leader in cloud Spend Management solutions today announced another record year, driven by accelerating customer acquisition, continued industry-leading retention rates, expansion into new regions, dynamic solution innovations and rapid procurement transformations delivered with the help of its expanding ecosystem of advisory and implementation partners.
“Ivalua is uniquely positioned to balance quick time to value and deep capabilities, with the flexibility to meet unique or evolving requirements. This and our close collaboration with customers are why we consistently achieve the industry’s highest retention rates.”
Empowering Procurement Globally
Growth accelerated in all regions, with an overall 66% growth in bookings and 99% customer retention. New offices in London, Paris, Pittsburgh, Singapore and Pune, India were opened while new regional partnerships in Italy and Latin America were launched to reinforce local implementation and support capabilities and ensure customer success.
Brand name customers from Europe, U.S., Canada, South America and APAC are using Ivalua’s Procurement empowerment platform to digitize processes, drive innovation and improve agility. 2017 customers wins included Swissport, ISS Switzerland, Bouygues Immobilier, Flex, the State of Arizona, Volkswagen Credit, Federal Mogul, Maxim Healthcare Services, TransAlta, Bell Canada, Cadillac Fairview, Gerdau, Maxis Telecom, MUSIC Group, and Malaysia Steelworks.
“Our accelerating and profitable growth and industry-leading customer retention rates are testament to Ivalua’s ability to deliver value to customers,” said David Khuat-Duy, Corporate CEO of Ivalua. “In today’s uncertain market, the combination of powerful capabilities across a complete suite and the flexibility to meet unique or evolving requirements is key to empowering Procurement. The Ivalua platform delivers that today and new innovations will only extend the value we offer.”
Investing for Accelerating Growth
To further accelerate growth and ensure continued customer success, Ivalua raised $70M growth equity minority funding from KKR, a leading global investor, and grew employee headcount by 144%, including the appointment of key industry veterans Alex Saric, CMO, John McAdoo, CFO and Franck Lheureux, GM for EMEA.
The acquisition of Directworks and significant new investments in R&D will further accelerate innovation in 2018 and beyond. Directworks allows Ivalua to better enable management of direct materials and advance existing innovations in managing Bill of Materials, and enabling deep collaboration with suppliers.
Scaling Implementation Capabilities through Partner Ecosystem
The Partner Certification Program was launched to ensure a scalable and consistent implementation approach for customers. In its inaugural year, Ivalua has enabled over a dozen Partners across 15 countries, with over 100 consultants certified. These Partners include KPMG LLP., Accenture, PricewaterhouseCoopers, Capgemini, Nitor Partners, Optis Consulting, HAVI Global Solutions, Flucticiel, KValue, Kronos Group, BGP, Viseo, and Consus.
In Europe, Ivalua and AXYS will optimize the entire Source-to-Pay process for Swissport, the world’s largest provider of ground and cargo handling services in aviation. ISS Switzerland chose Ivalua and Optibuy to streamline procurement processes in more than 17,000 locations. In the U.S., Ivalua and KPMG were selected by the State of Arizona to lead a technology-enabled modernization of its Procurement function. Ivalua and Consus are driving Procurement transformation in two major industries in Guatemala and China; Pantaleon, an agro-industrial organization, will deploy Sourcing and Contracts while China-based MUSIC Group has selected Ivalua’s Source-to-Pay solution in conjunction with Consus services to achieve cost savings and drive transparency across their procurement operations.
Maintaining a Leadership Position
Ivalua continues to be a market leader as the only provider recognized as a Leader in both the Gartner Magic Quadrant for Strategic Sourcing and SpendMatters SolutionMap for Strategic Procurement Applications and Procure-to-Pay, together covering the complete Source-to-Pay process.
“Gartner and SpendMatters validate what we’ve always known - a rigid, one-size-fits-all approach isn’t the way to empower Procurement,” said Dan Amzallag, CEO of Ivalua Inc. “Ivalua is uniquely positioned to balance quick time to value and deep capabilities, with the flexibility to meet unique or evolving requirements. This and our close collaboration with customers are why we consistently achieve the industry’s highest retention rates.”
Ivalua is the Procurement empowerment platform. Recognized as a Leader by Gartner, Ivalua’s Source-to-Pay suite is leveraged by over 250 leading companies across the globe to manage over $500 Billion in direct and indirect spend. The platform’s combination of ease-of-use, depth, breadth and flexibility ensures high employee and supplier adoption, rapid time to value and the ability to meet unique or evolving requirements, evidenced by the industry’s leading 98%+ retention rate. Realize the possibilities at www.ivalua.com. Follow us at @Ivalua.