You have taken the steps to invest in the future of your company. The next great step will be to hire an Ivalua consultant to help you get the absolute most out of your investment. Although there are many business owners that would rather learn the ropes of the application on their own, they eventually realize how much time and money they could have saved if they would have gotten help from a professional in the first place.
The Transformation of Technology
Technology is an ever-evolving entity that is quickly taking the front seat in many of the duties that businesses use on a daily basis. For enterprises and corporations around the world long gone are the bulky file cabinets that stored important paperwork. Files, photos, documents, and many other forms of physical media have been transformed into digital assets. As technology continues to evolve, the way companies do business is evolving alongside it. Businesses that refuse to roll with these changes are in jeopardy of failing.
Ivalua Implementation
Ivalua is a powerful platform that allows enterprises to transform the way they do business into a modern technological process that has little room for mistakes. The combination of robust software and artificial intelligence allows the application to help businesses function on a higher level of efficiency.
The moment a company decides to implement an Ivalua platform everything changes for the better.
However, as powerful as the platform is, the best way to get the most out of it is to get help from an expert that has a great understanding of both the platform and how business spending works.
Some of the powerful solutions that Ivalua has to offer are:
- Source-to-pay
- Strategic sourcing
- Spend analysis
- Procure-to-pay
- Inventory collaboration
- Direct spend management
Each of these solutions will have its own parameters and specifications that have to be created in the process of the installation.
Source-to-Pay Capabilities
It is no secret that the source-to-pay process is instrumental in the success of any business. Regardless of the size of the company, all of the spending and buying that happens has a huge effect on the revenue that the business creates.
The first step of the source-to-pay process is probably the most important. The planning phase. It is imperative to plan out the way that money will be spent and the way that it will be replenished before one dime is paid out towards anything. With the help of powerful technology, the planning phase of the process can be done in a fraction of the time.
Imagine all of the options that are the most beneficial for the company are easily accessed and studied without having to make one phone call or travel anywhere.
Sourcing
Beyond the planning phase, sourcing is crucial. Finding the best sources with the most reliability can be tedious and daunting. Not to mention all of the time that it can take to locate sources, check those sources, and compare them with other sources to find the best one.
The sources that are chosen can make a huge difference in the cash flow of the company. Sometimes sources can bleed more money out of the company than is necessary, yet others, the right sources, can attract and cause revenue increases.
Ivalua software has the capacity to:
- Search data around the world in seconds
- Compare data and choose worthy sources
- Compile a list of top-rated candidates
- Provide details that identify the best choices
Cutting out all of the time that it takes to scour the internet, make phone calls, compare choices and seek out sources saves resources and money.
The Consultant’s Duty
Beyond sourcing, there are several powerful solutions that the software has to offer a company. The consultant will be able to help the company install the application then set the parameters and details for each solution so that it fits right in with the needs of the business.
Most business owners that have been accustomed to controlling their own procurement and spending methods have advanced knowledge in the way that their company flows with cash. Combining knowledge of the company’s structure with the knowledge of an expert in the platform proves to produce great results.
Some of the details in parameters that will have to be created in the platform are:
- Budget maximum
- Budget minimum
- Prices of items
- Prices of services
- Item names
- Service names
- Quantity of needs
Based on varying information that is put into the system the software can compare old prices with new prices and find the best deals.
Every detail that has to do with the spending of the company will have to be put into the system in order to get an accurate account of the entire business.
Administration of the Platform
When the software is installed into the system an administrator will have to go into the interface and set parameters for administrators and users. Depending on the company and the needs of the employees there can be several users that will log in to their own areas for work. Each type of user will be granted a specific set of permissions that will allow them to have access to certain areas of the platform, and deny access to others.
The beginning phase of the implementation will be the root of how the business will work with the platform. It is crucial that the software is set up by a person that knows what they are doing. If the company attempts to slop the system together and hope for the best, they may be cheating themselves out of a lot of money and time.
A consultant will be able to guide the administrator in the process of:
- Creating administrator accounts
- Creating user accounts
- Setting up parameters and permissions
- Setting up areas specific to the company
- Creating custom functions
- Creating custom platforms
- Integrating other platforms
Of course, an administrator can go in and make changes to parameters whenever they want, but during the process of building the company structure in the platform, it is very important to set the application up in a way that will allow for growth and change.
Getting the Most From Ivalua
Ivalua was created for businesses to grow exponentially and thrive. There is no reason to use an application of this magnitude if there is no plan to do big things. Setting up the software in a manner that allows the company to get everything it can from the platform is crucial.
Why would anybody use an 18 wheel semi-truck and trailer to haul a pair of shoes from one side of town to the other? This is the same for Ivalua. In order to get the most out of the platform, there needs to be an understanding of what the software is capable of, and the best way to get all of the capabilities to work in a manner that is most beneficial for the company.
A consultant that understands the platform, and how to use it, will be the best asset a company can have for correct implementation, planning, setup, and execution of the software.
Once the program is installed and set up correctly, the consultant can take it to the next level and show the people that are going to use it on a daily basis how it all works. Just like the flame of a candle can light the next wick, your consultant will be a source of light for the entire company for decades to come.