Accelerating the source-to-contract process with Ivalua

Client

The client is a well-known international manufacturer of cosmetics and beauty products known for their commitment to research, innovation, and sustainability. They cater to a broad spectrum of customer needs with a diverse line of products that includes skincare, makeup, haircare, and fragrances. The client solves customer problems through a customer-centric approach and focuses on providing tailored products for various beauty concerns.

Challenges

Amidst the rapid shifts in the evolving supplier network landscape, the client wanted to expedite their source-to-contract transformation process. This would’ve been possible by ensuring smooth operations of the Invalua platform.

The client faced the following challenges - 

• Long cycle time for the supplier evaluation and contracting process
• Impediment in IT operations caused by previous implementation problems
• No streamlined process to handle incidents, service requests, etc.
• Lack of dedicated Ivalua expert team to handle day-to-day operations

LTM Solution

LTM enabled a smooth transition using proprietary accelerators, frameworks, and resources and expedited the transformation process through various interventions

• Reduced issue resolution turnaround time by augmenting resources and documenting service requests SOPs 
• Gained productivity by optimizing the data pipeline process for daily activities
• Enhanced spend management visibility through on-time spend integration assistance
• Streamlined supplier awarding process using automation tool on Ivalua

Business Benefits

• 90% Faster supplier awarding process
• Up to 30% productivity improvement through query automation
• Achieved ZERO incorrect escalations to Ivalua
• 5% Improvement in the mean time to resolution rate