Ivalua, which claims to be a global “leader” in Cloud Spend Management solutions, recently announced a strategic partnership with C2FO, which is one of the largest global platforms for working capital, “to empower Ivalua customers with enhanced supplier selection and the ability to streamline costs and drive targeted bottom-line growth.”
As noted in the update shared with CI, early payments are “a powerful liquidity tool that allows suppliers to be paid before terms.”
However, executing the classic invoice-driven approach “after the contracting event prevents such programs from realizing their full cash potential.”
The C2FO platform “enables a chief finance officer to control the liquidity and the yield captured, while the supplier can select the best liquidity opportunities with same-day approvals and next-day early payments offered with Ivalua.”
Pascal Bensoussan, Chief Product Officer of Ivalua, said:
“Our partnership with C2FO creates a dynamic Source-to-Pay solution that improves how companies access and manage capital, enabling our customers to turn their cash into a more powerful tool for liquidity. Embedding payments was the first step and now we can help our customers generate even more value from their supplier relationships and focus on bottom-line growth.”
Allison Baker, Senior Vice President of Partnerships at C2FO, said:
“We are thrilled to partner with Ivalua, a true market leader, and unlock access to a new convenient, low-cost source of working capital and liquidity for their clients and suppliers. C2FO’s supplier-centric working capital platform is a natural complement to Ivalua’s best in class source-to-pay platform. We look forward to creating new value for our joint customers and providing businesses with low-cost working capital vital to their success.”
This new partnership “not only improves suppliers’ liquidity and supports their financial health, but also strengthens the relationship and solidifies the buyer’s customer-of-choice status.”
A study by Forrester Consulting, commissioned by Ivalua, found that “businesses must digitize their operations in a timely manner while also allowing for visibility into payments – both of which were key factors in influencing suppliers’ willingness to collaborate with and share innovations with a specific customer.”