Ivalua and Tealbook Partner to Solve The Pain Points Around Poor Supplier Information

REDWOOD CITY, Calif., Dec. 8, 2020 /PRNewswire/ -- Ivalua, a global leader in Cloud Spend Management solutions and Tealbook Inc., the 'Trusted Source of Supplier Data' today announced a new partnership to provide a seamless experience between Ivalua's Source-to-Pay Platform and Tealbook's Supplier Intelligence Platform. This collaboration enables customers to find new suppliers and access accurate, comprehensive supplier information including diversity status, compliance, certifications and much more.

Access to accurate supplier data remains a challenge at most organizations, hindering effective decision-making and resilience. Ivalua prides itself on enabling customers to trust and control supplier data, improving quality of existing data and enabling 360-degree supplier visibility.

With Tealbook, customers can now access an "always-on" source of quality supplier data. Customers will benefit from Tealbook's innovative approach to autonomously gathering and validating supplier information from over 400 million websites and 600 data sources. Within a few clicks customers will be able to discover new potential suppliers to match their requirements. This helps organizations avoid supply disruptions in times of crisis such as during Covid-19, support strategic objectives such as increasing spend with diverse suppliers and improve quality and savings from strategic sourcing, especially for new categories where there is less knowledge of the market.

"With organization's increasingly dependent on their suppliers, having easy access to accurate, actionable supplier information is critical to ensuring resilience in today's crisis, and restoring growth beyond," said David Khuat-Duy, CEO of Ivalua. "We are proud to partner with Tealbook, who offers exhaustive, reliable data on millions of suppliers. With this partnership, our customers will be able to seamlessly find new suppliers, better enrich supplier information and drive their supplier diversity and compliance programs forward, all within a single Source-to-Pay platform for all spend."

"I am excited to launch a strong and productive partnership with Ivalua, as it will provide customers increased flexibility, agility and transparency to unlock endless value from their supplier relationships," said Stephany Lapierre, CEO of Tealbook. "This combination creates a unique marriage of great data and software so that users will be able to use our rich supplier network to supercharge their procurement activities."

Ivalua has seen accelerating growth and recognition of its leadership in recent years. In the past 12 months it has consistently been recognized as a leader across the Source-to-Pay spectrum, including in Gartner's Magic Quadrant for Procure-to-Pay Suites , The Forrester Wave™: Supplier Risk And Performance Management (SRPM) Platforms, Q3 2020, The Forrester Wave™: eProcurement Platforms, Q4 2019 and The Forrester Wave™: Source-To-Contract Suites, Q4 2019.

Tealbook has also seen increased growth and industry recognition, including being cited as the hub/platform of Kearney's "future state technology architecture ecosystem of connected microservices offering value-creating point solutions."

About Ivalua

Ivalua is a leading provider of cloud-based Spend Management solutions. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, lowering risk and improving employee productivity. Trusted by hundreds of the world's most admired brands and recognized as a leader by Gartner and other analysts, Ivalua maintains the industry's leading 98%+ customer retention rate. Learn more at www.ivalua.com. Follow us at @Ivalua.

About Tealbook

Tealbook is a Big Data company that provides a platform to fix enterprise supplier data forever. Tealbook does this through proprietary Autonomous Data Enrichment technology which proactively captures and maintains changing supplier information. In addition, Tealbook provides a data foundation that can be leveraged by other eProcurement solutions to ensure these larger investments are successful. Tealbook has been adopted by Fortune 100 companies across multiple sectors and is the winner of many prestigious awards including Spend Matter 50 Vendors to Watch, Gartner's Cool Vendor, CIX Most Innovative Company and Most Upside Potential by C100. Tealbook's mission is to deliver a 'Trusted Source of Supplier Data' to an ever-growing procurement space. For more information, visit www.tealbook.com.

Media Contact:
Michael Gallo
Lumina Communications for Ivalua
212-239-8584
[email protected]

SOURCE Ivalua

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