Ivalua's rapid expansion: Increased portfolio, greater R&D spend and revenues exceeding $100mn
Ivalua, one of the world's leading procurement empowerment platforms, has continued its incredible strategic expansion through new customer acquisitions, regional expansion and continued industry-leading customer retention rates.
The company revealed that it had achieved an overall growth rate of more than 50% over the last 12 months and is expecting to see its revenues exceed US $100mn in 2019.
A particular highlight for Ivalua has been the continuation of its industry-leading customer retention rate amidst its rapid growth. For the 18th consecutive year, Ivalua exceeded a 98% customer retention rate as it added major industry players such as Ericsson, Strabag, the State of Ohio, Saab to its ever-expanding portfolio.
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“Our accelerating, profitable growth and industry-leading customer retention rates are a testament to Ivalua’s ability to deliver value to customers,” said David Khuat-Duy, Corporate CEO of Ivalua. “The Ivalua platform uniquely empowers customers to realize rapid value and accelerate their journey to best-in-class, and beyond to build a true competitive advantage.”
The company was also featured within Gartner’s Magic Quadrant for Strategic Sourcing Application Suites, a Value Leader in Source-to-Pay process by SpendMatters SolutionMap and a Leader by Forrester Research “The Forrester Wave ™: Supplier Risk And Performance Management (SRPM) Platforms, Q1 2018.”
“Industry analysts continue to validate Ivalua’s strong capabilities and ability to deliver. This recognition shows that, with Ivalua, there is no need to compromise between a complete suite and best-of-breed capabilities,” said Dan Amzallag, CEO of Ivalua Inc. “This and our close collaboration with customers are why we consistently achieve the industry’s highest retention rates.”
Key to its success has always been its innovation in order to accelerate the digital transformation of its customers’ operations. Ivalua increased its research & development (R&D) resources by 94% in 2018 as it looks to continue to deliver more value to customers in the rapidly evolving digital world.