Ivalua, a leading provider of global Spend Management Cloud solutions, today announced the availability of a pre-packaged procurement suite for construction and engineering companies. The solutions span the full source-to-pay process and enable customers to make margin gains by streamlining procurement tasks, automating cost reconciliation, and managing multi-tier supplier risk. All whilst ensuring project agility and regulatory compliance.
The package is on the same, single code base as Ivalua’s full suite and offers the full capabilities and extensibility of the Ivalua platform. Customers can effectively manage all spend and all suppliers within a single platform, or deploy select modules to rapidly address specific needs.
With the pre-packaged construction and engineering solutions, organisations can quickly deploy best practices tailored to their industry needs. As a result, they can capture margin gains across the whole procurement journey at the work package level, building a competitive advantage. By leveraging the pre-packaged solution customers gain:
- Complete visibility of the whole supply chain minimising subcontractor risk
- Just in time work package procurement from sourcing to payment of contractors
- Real time cost value reconciliation ensuring on budget delivery
- New savings through procurement innovations such as catalogues and e-auctions
Ivalua has a long history of serving the construction and engineering industries. Many of the world’s leaders leverage Ivalua’s platform to effectively manage their spend and suppliers, including Strabag, Eiffage, LeFrak, Bonava, Vinci and others. The new solution captures the knowledge gained serving these and other leaders for faster deployment to new customers, and adds new capabilities to benefit all customers.
“As an expert in large construction projects, Strabag constantly faces unique and complex procurement requirements,.” said Germo Schroebler, Vice President of Procurement Development, Strabag. “The Ivalua platform enables us to drive best practice standardisation while meeting the unique requirements of each new construction project. Our partnership is a key pillar of our ongoing procurement transformation”
“For Construction and engineering organisations, every project is unique and margins are generally extremely tight. They need a procurement platform that can evolve to maximise savings on every project,” said David Khuat-Duy, Corporate CEO of Ivalua. “The Ivalua platform uniquely empowers our construction and engineering customers to deliver a competitive advantage today and remain agile for tomorrow. With pre-packaged best practices tailored to their needs, they can now start realising value faster than ever.”