REDWOOD CITY, Calif.--(BUSINESS WIRE)--Ivalua, the global leader in cloud spend management solutions today announced another record breaking year, driven by new customer wins, impactful solution innovations and accelerated procurement transformations delivered with the help of reputable advisory and implementation partners.
Ivalua Sees Explosive Growth in Americas
“We are delighted by our unprecedented global growth in 2016, especially in the Americas,” said David Khuat-Duy, Corporate CEO and Founder of Ivalua. “We maintained our leadership position by delivering on the Value Beyond Savings proposition and providing innovative out-of-the-box deep functionality in our Configurable Cloud Solution.”
Ivalua closed 2016 on a high note with 140% new subscription growth in the Americas, 45% more users globally and a 40% expansion of the Ivalua team. New offices in New York, Montreal and London were launched, while new regional partnerships in Latin America and Canada were struck to strengthen local implementation and support capabilities.
“The growth in North America is exciting. In 2016 our customers continued to create competitive advantage using Ivalua’s Single Organic Application for end-to-end Spend Management across their organization-wide spend, both direct and indirect,” said Dan Amzallag, CEO of Ivalua Inc. “We enable customers to achieve high employee and supplier adoption, which results in quick time-to-value and efficiently managed spend using the Ivalua Suite.”
Rapid Product Innovation that Matters
The launch of the Ivalua Academy and Certification programs provides customers and partners with a powerful on-demand e-learning platform, bringing together all the knowledge and skills needed to leverage the full potential of Ivalua solutions. With Update 152, our third major cloud platform update, procurement organizations benefited from streamlined deployment, an enriched user experience, improved supplier risk management and compliance, and simplified management of complexity at scale. Ivalua continued to have the fastest R&D cycle, with most enhancement requests developed and released in less than a quarter.
Customers Rapidly Expanding Spend Managed with Ivalua
Ivalua rapidly expanded its new customer base to reach 250 customers across key industries such as financial services, public sector, manufacturing, healthcare, automotive, oil and gas, and energy. Ivalua continued to maintain customer relationships at a stellar 100% retention rate for 2016.
Scaling Implementation Capabilities through Partner Ecosystem
Partnerships with key industry experts such as KPMG LLP, PWC, CGI, Shelby and Flucticiel enabled Ivalua to deliver a more scalable and consistent implementation approach to customers. Ivalua and KPMG were selected by the City of New York to implement Ivalua’s source-to-pay suite across 40 agencies subject to oversight by the Mayor’s Office of Contract Services that together represent $15 billion in aggregated spend. An alliance with Consus, a leading procurement services firm in the Asia-Pacific market, allowed regional customers to broadly adopt Ivalua. More than 35 Asian customers joined the Ivalua community in 2016 benefiting from our partner’s category expertise, intimate local supply market knowledge and significant bench strength.
Additional key wins in North America included University of Chicago Medicine; Sprint; Nexen; Meritor; Flex-N-Gate; US Foods. In Europe: Ingenico; Sagecom; Bouygues Immobilier; NTN-SNR; Luchinni RS. In Asia: Piramal; Anjoo Steel; Republic Chemicals; Aboitz Power.
Maintaining Our Leadership Position
Ivalua continued to maintain its leadership position in the market. Ivalua was named a Visionary in the 2016 Gartner Magic Quadrant for Procure-to-Pay Suites, and positioned the farthest along the completeness-of-vision axis. Ivalua kicked 2017 off on a strong footing, Gartner ranked Ivalua among the leaders of its 2017 Magic Quadrant for Strategic Sourcing Application Suites. Together, across both strategic sourcing and procure-to-pay, Ivalua is one of only two providers recognized for both Leadership and Vision.