B2B Payments

Ivalua Promises Speed, Efficiency With New Spend Management Suite

Ivalua, which works in spend management, has rolled out a new suite of solutions for businesses to organize and handle payments, a press release says.

The suite will help businesses with B2B payments by ensuring compliance on all levels of a transaction with various regulatory and policy rules, manage third party risk with 360 degree visibility, speed up cost optimization across even the more complex spend services, and implement and demonstrate their company’s sustainability strategy to help improve its non-financial rating.

Like Ivalua’s full suite, the new package is all in the same single-code base. Businesses using it will be able to either handle all their spending needs on one platform or select a specific module to do so, and they can select the practices best for them.

Ivalua also promises speed in the procedures, with agility to keep up with new regulatory rules and to adapt unique solutions when needed, the press release says.

Ivalua corporate CEO David Khuat-Duy said the company wanted to address the myriad, constant changes in the regulatory environment and the numerous things that may need tweaking.

“The Ivalua platform uniquely empowers Financial Services procurement leaders to build and maintain a competitive advantage today and remain agile for tomorrow,” he said, according to the release. “With pre-packaged best practices tailored to their needs, they can now start realizing value faster than ever.”

Ivalua’s other recent addition was new technology to help businesses gain more visibility to hopefully improve supplier relationships.

Ivalua, in existence since 2001, has helped many financial institutions over the years including Fannie Mae, Credit Suisse, Credit Agricole, Banco de Brasil, Covea, Generali and BNP Paribas.

Maxime Genestier, Credit Agricole’s group procurement corporate secretary, said the Ivalua platform “has been delivering the leading capabilities we expect while helping us address the unique and evolving challenges” of the industry.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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