B2B Payments

Ivalua Launches Gov’t Procurement Tools Amid NYC Debacle

money in magnifying glass

Enterprise spend management company Ivalua is launching its solution designed for the public sector as criticism mounts over the firm’s contract with New York City.

In a press release Tuesday (June 11), Ivalua announced the launch of its pre-packaged suite of spend management solutions designed for state and local governments. The offering enables end users in the public sector to customize the product and adjust to changes in regulations and policies.

The suite includes a public portal of catalogs, as well as FOIA and bid protest management tools. Ivalua is also offering a supplier document management tool, subcontract payment management solutions, p-card management, subcontractor management, and compliance tools, amid other features.

“Public sector procurement leaders should not have to compromise between rapid time to value, best-of-breed capabilities and meeting their unique requirements,” said Ivalua Head of Public Sector solutions Mike Cook in a statement. “The Ivalua platform uniquely empowers state and local governments to deliver the efficiency, transparency and value realized by the world’s leading brands to government. Now we can deliver even greater value in less time than ever before.”

Ivalua is facing criticism over its contract with New York City, a project whose price tag has inflated to $47 million as Ivalua is commissioned to develop an eProcurement system for various government departments of the city. Critics noted that Ivalua had never before worked in public sector procurement.

The case is now being examined by New York City Comptroller Scott Stringer, who acknowledged in a statement earlier this month that the rising costs of the project “raises red flags.”

“Private companies cannot be allowed to overcharge taxpayers and under-deliver services,” he said.

The project began in 2016 with a price tag of $30.5 million, previous reports said, and involved the development of an eProcurement solution for 40 city government agencies to access online procurement capabilities.

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