Ivalua Lets Firms Optimize Inventory With New Collaboration Tool

Procurement software company Ivalua has added an inventory collaboration feature to its procure-to-pay offering, according to a Monday (July 12) announcement.

Ivalua Chief Executive David Khuat-Duy said that the company’s inventory collaboration offerings let those who work in procurement and supply chain make better purchasing decisions and foster collaboration with vendors. “Together with Ivalua Payments, this offers procurement an additional lever to help optimize working capital and become a strong partner to Finance,” he noted in the announcement.

The firm’s inventory collaboration offering helps its clients simplify and optimize inventory levels in sync with the wider procure-to-pay workflow by providing simpler and faster access to inventory levels. It also lets users allocate stock to the appropriate storage location, such as a stockroom, plant or warehouse.

Moreover, the solution offers simplified workflows for stock replenishment through features like proactive alerts. In addition, Ivalua provides a vendor-managed inventory (VMI) functionality that allows for collaboration with vendors that control inventory for their clients.

Ivalua’s full platform lets companies “effectively manage all categories of spend and all suppliers, increasing profitability, lowering risk and improving employee productivity,” according to the announcement.

The news comes as Ivalua and vendor information firm TealBook Inc. have collaborated to provide a smooth experience in linking Ivalua’s source-to-pay technology with TealBook’s supplier intelligence technology. That relationship allows clients to find new suppliers and locate data like certifications, and customers will have the ability to get an “always-on” array of quality supplier data, according to an announcement in December.

“We are proud to partner with TealBook, who offers exhaustive, reliable data on millions of suppliers. With this partnership, our customers will be able to seamlessly find new suppliers, better enrich supplier information and drive their supplier diversity and compliance programs forward…” Khuat-Duy said at the time.