Ivalua Reports 84% Revenue Growth in Q1 2014
Consistent revenue increase driven by disruptive Spend Management platform adoption, major new customer wins, and International expansion
Redwood City, Calif. – June 11, 2014 – Ivalua, one of the leading global spend management software vendor, today reports its financial results for the Q1 2014.
- 84% revenue growth globally in Q1, compared to the same period last year
- 10 new major customers
- 15 new projects successfully implemented went live during Q1
- Ten thousand new users and 50,000 new suppliers added by clients
- 98% customer subscription renewal rate maintained
- 3 new offices opened, in Canada, Italy, and the UK
“We are delighted to report outstanding growth and delivery metrics in the first quarter of 2014,” comments David Khuat-Duy, the Corporate CEO of Ivalua. “Our metrics reflect our ability to take rapidly leading positions even in new markets, our focus on building the most robust solution in the market and our obsession with maintaining the highest quality standards for all our client delivery projects.”
Ivalua acquired 10 major customers in Q1 including:
- 1. A global technology Leader for Aerospace, Space & Defense, 65,000 employees
- 2. A worldwide electricity leader, 150,000 employees
- 3. A Shared Services Agency for Procurement for a major government
- 4. An investment banking company
- 5. A global Leader in Facility Services, 530,000 employees
- 6. A large Oil & Gas services company, 100,000 employees
- 7. An Innovative pharmaceutical company in Italy
- 8. An international Group dedicated to culture and leisure, 15,000 employees
- 9. A Financial and Technology Services Company, USA
- 10. A World leader in broadband terminals, convergence and energy solutions
Global expansion in Canada, UK and Italy
In the first quarter of 2014 Ivalua has experienced a successful expansion worldwide. The company opened new offices with local teams in Canada, the UK, and Italy with successful deals within the first three months.
“The Canadian market has quickly shown a great interest for our Spend Management solution, and we have already won some very significant projects, including some ventures in the Public sector,” adds Dan Amzallag, CEO of Ivalua Inc. “This is why we have decided to settle a dedicated team there”
Ivalua migrates most of its clients to Version 8
With more than 800 new features available, a best-in-class user interface, and integrations with all major ERPs, Ivalua Buyer v8 is recognized as the most flexible and modular Spend Management solution on the market.
Ivalua has not only won the trust of many new clients selecting Ivalua Buyer V8 but existing clients are upgrading in large numbers as well.
“Ivalua Buyer v8 won our trust and we did not hesitate about migrating to the new version. We were able to entirely rely on the Ivalua team to perform the migration smoothly and in a short timeframe. Our users welcomed this new version and we are entirely satisfied with it,” confirms Georges Cailleaud, Project Director at Michelin. Read the Michelin case study
Ivalua Buyer Version 8 is pioneering the concept of “Flex SaaS solution”: Ivalua FLEX SaaS is a unique platform on the market today, as it combines the benefits of a cloud-based solution (speed, ease, scalability and low-cost of deployment, upgrade and maintenance) with the flexibility of a highly configurable on-premise software, tailored to fit customers’ complex workflows (procure to pay, contract validation…), processes (RFP Management, Supplier creation…) and user experience. Read the article