SRPM Category ‘Vital’ to Meeting Rising Expectations, According to Research Firm
London, UK – March 1st, 2018 – Ivalua, a global leader in cloud Spend Management solutions, today announced that it has been recognized as a Leader by Forrester Research Inc. in ” The Forrester Wave™: Supplier Risk And Performance Management (SRPM) Platforms, Q1 2018.”
According to the report, “SRPM is vital to meet customers’ rising expectations.” The report further notes that “the SRPM market is growing because more Chief Procurement Officers (CPOs) see it as a way to address one of their top challenges. The tools help them meet customers’ rising expectations of safety and reliability. They have too many suppliers, and too many risks to worry about for manual processes to be effective.”
In its vendor profile, the report notes that Ivalua has a leading SRPM solution within its broad sourcing suite and that “[m]any enterprises have chosen Ivalua’s SRPM product not only for its highly configurable functionality but also because they can later extend it to address all their purchasing processes. It is particularly strong for master data management, so it can be the central source of supplier truth for multiple ERP instances.”
Ivalua was ranked among the top two vendors in both the current offering and strategy criteria. The current offering components scored include supplier information, risk assessment, risk monitoring, performance management and technology platform. The strategy category considered customer success, product strategy and corporate strategy.
“In today’s business environment, companies need to collaborate more closely with suppliers to drive innovation and revenue, but this greater dependence on suppliers can increase risk if not carefully managed,” said David Khuat-Duy, Corporate CEO of Ivalua. “SRPM solutions that enable companies to better manage risk while increasing collaboration are critical to empowering Procurement leaders to meet their objectives. We are proud to be recognized as a leader in this evaluation.”
To access the report, please click: The Forrester Wave: Supplier Risk & Performance Management Platforms, Q1