Ivalua, which works in cloud spend management solutions, will give employees access to Amazon Business from Ivalua’s platform, a press release said Thursday (June 10). This will help businesses find new supply sources.
It will go beyond the traditional PunchOut and allow for an integrated search experience, letting employees search across various supplier catalogs internationally, Amazon Business and other places in order to compare results.
The release said there will be real-time pricing and inventory to make sure the needed items are available. It will also give companies access to Amazon Business Guided Buying policies, which can help companies guide users to the right products or suppliers, also identifying product categories employees shouldn’t purchase.
Procurement teams have never had the easiest time controlling tail spend, as when it goes uncontrolled, it goes under the radar and is often left out of the policy or processes. It ends up leaving procurement with bad visibility and possibly distorted financial reporting and analytics.
The pandemic showed many companies that they needed to make sure they had seamless, quick access to marketplaces for a better chance of broad availability from suppliers. That way, there would be less of a chance of shortages.
“Ivalua is committed to offering employees the best purchasing experience at work while ensuring business spending supports corporate objectives and policies,” said David Khuat-Duy, CEO of Ivalua. “Empowering procurement teams means providing them with the tools they need to offer their internal stakeholders an enhanced service experience, which in turn drives compliance and, subsequently, increases spend control. This is why we are particularly proud to innovate closely with Amazon Business to ensure the best buying experience for our customers.”
Ragui Selwanes, director of Business Payments for Amazon Business, told PYMNTS recently that users in the B2B eCommerce realm have begun using more digital payments tools and thus businesses were now looking for more electronic payment methods.