65a89235aad8c7001efab7b6 Ivalua Iva

Procurement Powered by Generative AI

Jan. 18, 2024
Ivalua has launched a procurement productivity solution powered by generative AI.

Ivalua has launched a generative AI offering built-in to the Ivalua platform. An Intelligent Virtual Assistant (IVA) powered by Generative AI is designed to help users to improve efficiency and enable faster, more effective decision-making regarding their suppliers, contracts and spend.

IVA is a procurement productivity solution powered by generative AI. It offers the following out-of-the-box capabilities:

Supplier Research: Find and gather relevant information on existing or new suppliers and their offerings and enrich their profiles.

Category & Market Insights: Within seconds, conduct specific research and summarize key trends within your category.

Legal Assistant: Create an instant contract summary or draft a clause to ensure specific elements are covered.

RFP Assistant: Leverage best practices to articulate and share the objective, timeline, success criteria and selection process of your next sourcing event with all invited suppliers.

Enhanced Communications: Get instant help creating / proofreading supplier communications and sourcing invitations.

Generate Improvement Plans: Review supplier performance responses, summarize, and suggest appropriate actions within a structured improvement plan

Chat With Your Documents: Extract information, data, and insights from documents in seconds (Supplier ESG reports, certifications, contracts, 10K filings, invoices).


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