Global leader in spend management, Ivalua and Visa, a world leader in digital payments, today announced a collaboration to empower organizations to release the cash locked within payment cycles, driving process efficiencies and maximizing opportunities with suppliers.
This partnership will enable organizations to simplify and accelerate supplier payments, enabling them to expand their card usage with a secure and intuitive user experience that delivers high levels of automation and control.
Ivalua offers a unique approach to address the challenges of controlling spend and maximizing the financial and efficiency benefits of Corporate Cards. Through new and innovative capabilities, organizations can embed their cards into any purchasing activity to gain total control over any pre-approved spend. This empowers businesses to use not only cards for traditional expenses but also for a wider range of purchases from catalog purchases, invoices, and even subscriptions or specific projects. This brings all card spend under control, driving business efficiencies and improving cash management.
Unlike other card solutions, Ivalua provides organizations with the ability to identify both suppliers and categories of spend and then reconcile usage back to a user or budget the next day. This level of control is the key to unlocking more card usage and maximizing rebate opportunities. Furthermore, as this is entirely managed within the Ivalua cloud environment, it significantly enhances card security and prevents misuse.
“Unlike alternative solutions, Ivalua enables its clients to securely manage card usage without compromising potential cash rewards,” said Suman Raju, Chief Financial Officer (CFO) of Ivalua. “As cash flow remains critical and saving becomes increasingly important, we are delighted to partner with Visa to unlock new levels of payment automation and maximize rebate opportunities for our clients.”
Clive Cornelius, Head of T&E and Procurement Commercial Products, Visa Commercial Solutions, Europe at Visa, commented: “We find that businesses prefer financial services integrated in their ERP/AP systems, allowing them to pay simply and efficiently without having to step out of existing workflow, and we’re excited to work with companies like Ivalua in bringing new solutions and approaches to this market need.”