An announcement issued on Thursday (Aug. 25) said Exiros will replace its supplier management and purchase ordering systems with Ivalua's spend management technology, including supplier management, governance and collaboration tools.
According to the companies, their venture marks "one of the biggest spend management cloud software deployments originating in the Latin American region.'
In a statement, Exiros IT Department Head of Process Improvement Cintia Romina Otero said that all of Exiros' users preferred Ivalua's spend and supplier management solutions to others. The company has a supplier base of 36,000 vendors, according to Exiros, and facilitates procurement of raw materials, services and other supplies.
Securing Exiros as a major client comes as Ivalua looks at developing trends in the eProcurement space. According to one of its more recent quarterly reports on the topic, large corporations are now turning to procurement platforms instead of ERP tools to manage spend and vendor relationships.
According to Ivalua, 90 percent of companies surveyed said they had some kind of procurement tool integrated into their work systems. Greater purchasing visibility was cited as the top reason for doing so.
"This greater visibility into company spend improves the knowledge of company purchases, assists in optimizing the supplier panel, allows the aggregation and sharing of orders, highlights savings and opportunities by spend categories or by supplier and, in the end, helps obtain the best commercial conditions during negotiations with suppliers," Ivalua concluded.
While Ivalua's latest deal helps the company propel into Latin America, its research focused largely on Europe and North America.