REDWOOD CITY, Calif., Nov. 11, 2019 /PRNewswire/ -- Ivalua, a global leader in spend management, today announced that it was selected as the winner of both the Innovations in Third Party Management and Innovations in Digitization awards, presented at the Future of Sourcing Awards event in Carlsbad, CA. The awards were won jointly with Ivalua's customers Sprint and Fannie Mae, respectively.
The Future of Sourcing Awards program, which took place Wednesday, October 16, 2019, recognized companies and individuals that are transforming, innovating and leading the sourcing, procurement and outsourcing industry. Winners were selected by an independent panel of industry leaders and influencers. The winner of each award represented the best example of innovation and showcased the greatest achievement in fundamentally changing the nature of their business.
Fannie Mae has undertaken a multi-year digital transformation of its complete source-to-pay process to improve efficiency, mitigate risk and ensure transparency. With disparate systems and offline processes, reporting used to take months. Leveraging the Ivalua platform, Fannie Mae has consolidated all of these activities in one system, reportedly achieving 100% digitization of their contracting and ordering processes and visibility into 100% of spend.
"This award is a testament to the talented team working hard every day to ensure transparency and continuous improvement of procurement at Fannie Mae," said Stephanie Bahr, Vice President and Chief Procurement Officer at Fannie Mae. "Our work with Ivalua has helped bring our ideas to life and accelerate our digital transformation."
"We've had the honor of collaborating with the amazing teams at Fannie Mae & Sprint for several years, watching the tremendous progress they have made digitally transforming procurement," said Dan Amzallag, CEO of Ivalua, Inc. "We are proud to be the technology behind the most successful and innovative procurement teams."
Ivalua is the Procurement empowerment platform. Recognized as a Leader by Gartner and other top analysts, Ivalua's Source-to-Pay suite is leveraged by over 300 leading companies across the globe to manage over $500 Billion in direct and indirect spend. The platform's combination of ease-of-use, depth, breadth, and flexibility ensures high employee and supplier adoption, rapid time to value and the ability to meet unique or evolving requirements, evidenced by the industry's leading 98%+ retention rate. Realize the possibilities at www.ivalua.com.
Lumina Communications for Ivalua