Ivalua Alternatives 2022: 10 Best Spend Management Software

iValua’s Source to pay suite is used by almost 300 leading companies to manage nearly $500 billion in direct and indirect spending. The platform is easy to use, with depth, breadth, and flexibility to ensure employee and supplier adoption, time to value, and the facility to meet the unique and evolving requirements. This is reflected in the industry’s 98%+ retention rate with this software.

Purchasing software solutions have the ability to deliver significant value for the organizations in spend management. These solutions can remove the risk by providing compliant processes and could generate savings by eliminating rogue buying. But all the purchasing software is not equally created.

The successful systems are those that can manage the spending, meet the unique needs of the business, are easy to use, and are adopted by many users and suppliers.

Ivalua’s Purchasing Software offers a modern and straightforward process for creating and transmitting purchase orders for all the spend categories. It is highly flexible and easy to use and therefore can support unique buying situations to see that you can control rogue spending. Also, it provides a user experience that includes acceptance and compliance in a very effective manner.

Key Benefits Of Using Ivalua

Achieving Quick Wins

You can drive rapid user and supplier adoption to generate a better Return on investment. The fast deployment packages and pre-built integrations ensure there is a quick implementation of the same. The supplier-friendly approach ensures the users appreciate the rapid supplier enablement and the intuitive experience.

Expand to All Spend And All Suppliers

Using Ivalua’s Purchasing Software, you can achieve maximum efficiency, improve access to actionable insights and maximize your savings by including all spending under the management. The complete unified suite helps the customers manage all their spending in one platform. This consists of the services that are important for financial service customers.

Build A True Competitive Advantage

Now create revenue opportunities, and find out new ways of working. Ivalua allows companies to get a competitive advantage by using their best ideas and implementing them. It also allows procurement teams to use the flexibility and extensibility of the platform to offer advanced facilities you can use later.

ALSO READ | How Automation Can Help Your Procurement Process

Sourcing Decision Center (SDC)

Ivalua’software comes with an intuitive and powerful optimization capability. The tools are used only by a few as they are pretty complex. However, the ease of use and integration with sourcing solutions makes the users leverage its optimization and take smart allocation and supplier selection decisions.

Sub-Tier Supplier Management

The COVID -19 pandemic showed the extent of risk exposure of many companies’ supply chains because of the suppliers. This new software ensures visibility into the supplier’s sub-tier network so that the customers can understand what a supply chain risk is. The visual mapping of this sub-tier network lets the customers find out supplier dependencies, areas of risk, and the opportunity to boost innovation and simplify spending.

Savings Tracking

The significant improvements to Ivalua’s solutions help the finance and procurement to define, track and manage savings as per their guidelines. The procurement leaders could ensure the savings they generated would get recognized financially as well.

AP Automation

Having a streamlined AP workflow with touchless non-PO handling, invoices are now much simpler and faster. The capabilities make sure that the customers can process an invoice from anywhere efficiently.

Web Accessibility

Ivalua’s Public and Supplier Portals meet the requirements of international standards, also known as Web content accessibility guidelines, to give access to all the workers. This is very important primarily for customers of the public sector and EU.

10 Best Ivalua Alternatives

1. Tradogram

Tradogram believes that if you want effective procurement control, you should first streamline the communication regarding purchasing. Users here receive a comprehensive platform that comprises six solutions like Supplier Management, Purchase-to-Pay, Strategic Sourcing, Contract Management, Spend Analysis, and Order Management.

Tradogram comprises all the tools required to streamline their entire purchasing process from beginning to end.

Some of its features include:

  • Internal requisitions
  • Flexible requests
  • Automated purchase orders
  • Custom approval routing
  • Supplier contracts management
  • Detailed delivery tracking
  • AP automation
  • Real-time budgeting
  • Spend reporting

2. Proactis

Proactis lets businesses monitor their expenditure of streamlining the procurement processes and sourcing projects. Having an admin dashboard, professionals receive an overview of all the tasks and generate the reports accordingly.

Proactis allows the teams to get the project information from the database and share these confidential documents with the team members. Companies can now create profiles for the vendors. They can include details like registration number, sales data, certifications, contact information, and specialties.

Also, it allows the users to create new requests for proposals that comply with the industry regulations and receive automated alerts before the contract gets renewed.

Proactis also facilitates the integration with other third-party ERP applications like Microsoft Dynamics, Unit4, SAP, Oracle, Coda, etc. This solution could then be deployed either on-premise or hosted in the cloud. With the workforce module, the employees could fill the timesheets electronically and get approvals from their managers.

It can also help businesses manage their complete invoice lifecycle starting from new registrations to payment processing.

3. Order

Order is a simple guided B2B marketplace. Its mission is to simplify the process of buying for businesses. It makes it easy for the company to place and track the purchases made across the vendors, control their spending and make payments through one single bill.

Along with the tailored insights and purchasing recommendations, it also helps in making smart spending decisions so that the businesses could save time and money.

It was launched in 2016 and is headquartered in NY City and controls half a billion of annual spending of a variety of customers. So far, Order has raised $50 million in funding from top investors like MIT, Stage 2 Capital, Rally Ventures, 645 Ventures. Order was named as 50 to Watch by Spend Matters and the Best Place to Work by BuiltIn.

ALSO READ | 11 Cost Saving Ideas Every Growing Business Should Follow

4. Tradeshift

Tradeshift helps businesses in succeeding with invoice automation projects that are based on freemium plans and paid packages- based on the scale of the invoice load. This complete platform is mobile compatible and also free to use.

Tradeshift uses electronic invoices with many “trigger-based interactions” that boost human emotions like curiosity and loss aversion to motivate their suppliers to join them. The conversion tools they have to turn the PDFs and paper into electronic bills when they onboard the suppliers.

5. SAP Ariba

Ariba Commerce Services help you move through the starting inception process of any ongoing inquiries. You may need support with the change management, adoption, connectivity, or ongoing process improvements.

When you require support, you could access their know-how technology and market intelligence to help you get a better ROI.

6. BiSourcing

Bisourcing is a web-based supply chain management suite that allows businesses to automate their purchase orders and manage the contracts, auctions, and suppliers on one centralized platform. Its features include traceability, tenant management, messaging, cataloging, contract expiration alerts, and reporting.

This platform allows suppliers to maintain the documentation necessary for the companies and buyers to verify and provide supplier information, thus streamlining the approval process.

Bisourcing allows businesses to establish multiple eligibility criteria that include delivery time and price to confirm the offers and lets the vendors conduct negotiations and open bids.

Supervisors could determine the provider’s financial capacity through various indicators like profitability, indebtedness, and liquidity. With their requirements management module, the team members could define the template and workflows as per the purchase requests, assign document owners and submit the requests to corresponding committees while generating ideas and writing down meeting minutes.

7. PlanetBids

PB System is a leader in eProcurement solutions for public agencies and provides bid management, insurance, contract management, collaborative outreach, diversity certification modules. Their software consists of tools that help in document management and distribution, plan holders list management, secure eBidding, bid calendar, custom email messaging, online Q&A management, etc.

8. SnapAP

The SnapAP is a paperless procure-to-pay solution for companies that process more than 500 invoices monthly or have active relationships with 25-50+ vendors and want to improve the productivity of their P2P process. This platform covers all the electronic purchase orders, automated purchasing, and approval cycles, along with electronic invoices and payments.

SnapAP automates the accounts payable and invoice management to make the process of procuring goods and services streamlined. Organizations could give the suppliers 24×7 access to all their purchase orders online and track if they have been received along with the order confirmation. Such streamlined processes help catch any errors before they can become a defect.

9. Precoro

Precoro is a procurement software that helps SMBs and enterprises save their time and money by reducing manual work. With this software, you could save more than 15% on daily expenses while spending 65% less time on procurement management.

Precoro comes with many features like integrating NetSuite and Quickbooks and free API. It also offers SSO and secure 2-factor authentication.

10. Oboloo

Formerly Spend 365, Oboloo is a cloud-based e-procurement software that automates and tracks the purchasing activities for various businesses helping them get better insights into the spend, reduce the risk and automate procurement processes. Its key features are:

  • P2P
  • Contract and budget management
  • RFQ/RFP creation
  • E-invoicing
  • Reporting
  • Spend analysis
  • Approval routing

The Oboloo platform comprises an all-in-one suite that has 9 different modules that help the users in tracking the purchases. The P2P module or procure-to-pay consists of a 3-way matching process that allows departments to control their spending and financial risk.

Each approved order is linked to a purchase order and connected to the supplier invoice, meaning all relevant financial data is related to a single order. Tools for spend analysis include detailed reports via the spend dashboard, which help users to identify spending habits and savings opportunities, as well as manage compliance.

Every order is then linked to a purchase order and connected to the supplier’s invoice. The tools for sending analysis include reports through the spend dashboard, which helps the users to find out their spending habits and save opportunities and manage compliance.

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