Ivalua, a global leader in spend management, announced that it has been named a Leader in the 2024 Gartner "Magic Quadrant for Source-to-Pay Suites." The Gartner report evaluated Source-to-Pay (S2P) solutions from 10 software vendors across a broad set of criteria, placing Ivalua in the Leaders Quadrant based on its ability to execute and completeness of vision. Only two vendors were placed in the Leaders Quadrant.
S2P solutions are used by organizations to more effectively manage their spend and suppliers, from identifying, assessing and negotiating with suppliers to managing contracts and ordering and paying for goods and services. As businesses face greater pressure to improve efficiency, reduce costs and better manage suppliers to improve Environmental, Social, and Governance (ESG) performance and mitigate risk, they are increasingly looking to purchase S2P suites. Such suites maximize efficiency gains by delivering higher levels of automation than obtained from having distinct solutions for different parts of the S2P process. They also enable faster, better-informed decision-making by giving users easy access to a range of information on suppliers and spend.
Hundreds of organizations leverage Ivalua's S2P solutions to better manage their spend and suppliers. Ivalua's modular, complete S2P platform enables customers to activate the specific capabilities needed and expand to address more processes, spend and suppliers as their digital maturity grows. The unified data model ensures users can access complete, accurate insights from anywhere in the process. The single code base enables a consistent user and supplier experience and maximum automation. And the platform's low-code, no-code extensibility allows customers to support unique or evolving requirements and enable business innovations.
"Ivalua's unified S2P platform provides 360 degree visibility of our suppliers, including a rich ecosystem of third party data, and the ability to streamline both direct and indirect purchasing with a single solution", said Rodney Masney, Chief Information Officer, O-I.
"Ivalua is proud to be recognized by Gartner as a Leader in their first Source-to-Pay Magic Quadrant," said David Khuat-Duy, Founder and CEO of Ivalua. "We have always believed in the strategic advantages of having a single platform to manage all spend and suppliers with the flexibility to adapt to changing conditions and requirements. Having a single source of truth for supplier information is critical in enabling our customers to optimize decisions across their many priorities. I'd like to thank our customers for their partnership and positive reviews, which we feel contributed to this recognition by Gartner and our continued success."
Read a complimentary copy of the full January 2024 report to get an up-to-date view of the market and vendor offerings.
Gartner, Magic Quadrant for Source-to-Pay Suites, By Micky Keck, Naveen Mahendra, Kaitlynn Sommers, Lynne Phelan, Cian Curtin, Balaji Abbabatulla, Chaithanya Paradarami, 29 January 2024
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