Is Ivalua Cloud-Based?

Is Ivalua Cloud-Based?

Ivalua is a powerful platform, and the best way to get the most out of it is to hire an Ivalua consultant. Although this software program was created so that businesses can optimize their spend management and gain more control over their finances, if it is not used in the correct manner, it is merely a waste of time and energy. If you are wondering whether or not Ivalua is a cloud-based program, you have a lot to learn.

What is Ivalua?

Ivalua is a dynamic unform software platform that simplifies spend management and gives a clear outline of all suppliers. Some of the solutions that it provides are:

  • Sourcing
  • Supplier risk and performance
  • Contract management
  • eProcurement
  • Invoicing
  • Payments
  • Spend analysis

An Ivalua implementation has the potential to transform the way a business operates and maximize every penny that goes in and out of the company.

Needless to say, this is not a typical, everyday software platform. In order for it to work in the way that it was intended to it needs a lot of power behind it, and a little bit of expertise to get it up and running.

What Does Cloud-Based Mean?

The answer to the question regarding if Ivalua is cloud-based is yes. Ivalua is a cloud-based software program. However, what does that mean? The fact that it is cloud-based gives it much more power than a locally installed platform that can only be administered from a local server.

Cloud technology means that tiny bits and pieces of the data that make up the software and all of the components in it are stored on remote servers across the world in a cloud-like structure. What this means is that the application is spread out among many servers in a way that allows it to be faster, less cumbersome, and more secure throughout a network. Since every piece of data is not only encrypted but stored away from each other it is difficult and maybe even impossible to hack from a rear entry.

Say, for example, you have 25 buckets that hold a certain amount of liquid. When you combine all of the contents of all of the buckets together you get the entire scope of the whole water, but if you look into each bucket you only see what is in that bucket.

If there are color particles in each bucket that only turn a specific color when all of the buckets are combined together as one, you will only see that color when everything is together. Each bucket will represent a server while when the entire entourage of all of the buckets together combine it is in a cloud, so to speak.

The only way for a cloud to form from the contents of each bucket is if the person who is requesting the information from the buckets has the correct credentials. Otherwise, even if it is 24 out of the 25 buckets together, the contents of the buckets will not make sense.

The Power of Cloud-Based Technology

Although some of the components of cloud-based technology can be confusing, cloud-based computing gives people the freedom to access information from anywhere in the world. The way that this type of software works is because all of the data that is stored comes from different places the entire load of the platform does not have to be burdened from one place.

Instead of lifting one large stone from the ground, if there are multiple smaller stones that are picked up by multiple people the entire burden becomes much lighter. Although stones and electronic information are very different from each other, the amount of energy that is needed to push electronic data is similar to the amount of energy it takes for a person to pick up and move a heavy object.

Not only is the data more secure, the way that the application loads and works is much faster and streamlined than if it were hosted on a single, local server.

Why A Consultant is Necessary

Many business owners will argue that they do not need the help of a consultant. The reasons why they believe this can be from a plethora of reasons varying from pride to fear of costs. In any event, if a person is not an expert in technology there is no reason for them to try and figure out an application like Ivalua without some help.

Some of the issues that people that try and go it alone face are:

  • Hardware issues
  • Infrastructure difficulties
  • Creation and administration
  • Integration with other platforms
  • Set up and base structure

One thing a consultant can do is to show a team of people how to operate the program and get the very most out of it. The average person does not know or understand, how a cloud operation works, nor how to implement it into a company infrastructure.

Procurement Software | Spend & Supplier Management | Ivalua

Making sure that the equipment that the software will be used in is acceptable, and meets the minimum requirements to operate the platform, is a critical task that every organization will have to do in order to use the platform.

The creation of users and groups will be an important step in the process of implementation because everybody that uses the platform will have access to their own portals that will allow them access to certain areas or block access to certain areas. The ideal environment for a successful implementation is to ensure the safety and security of all the people that use the platform.

Administration and Permissions

Setting up the platform correctly is of the utmost importance. If the structure of the platform does not completely match the needs of the company there will be huge problems to deal with later on down the line.

Every business will have its own unique structure and characteristics. The way that the administration is done will not be a one size fits all solution. The most important phase of the implementation of the software will be to plan the entire way that the program will be laid out, who will be able to access what, and where people can go within the platform.

For example, for the sourcing capabilities of the platform to be relevant and effective the pool of information that the platform has to gather from has to be correct. If the information that the program bases its decisions on is incorrect, the entire endeavor will be wrong.

Sourcing for each company will have different parameters and objectives. If a company that is sourcing tennis shoes has information regarding soda producers the results will be inaccurate, to say the least.

The parameters of the foundation will have to match up with the needs of the business for everything to work out the way that is best intended. For this reason, it is imperative that the platform is installed and initiated by a professional that understands the process.

Conclusion

Ivalua is a cloud-based platform that is trusted by billion-dollar companies all around the globe. It has the capacity to manage millions of accounts and manage countless sources. The way that the world is shifting from analog media to digital media at an unprecedented rate shows evidence that anybody that fails to consider implementing a total digital transformation is in jeopardy of losing everything and being pulled under by the digital wave.