Some companies spend a lot of debating whether or not hiring an Ivalua consultant is the right thing to do. The truth is that although the Ivalua platform is easy to use with lots of powerful features it is not so simple to implement and deploy. Many business owners that try to go it alone learn very quickly that the only way to truly get the most out of the application is if you get a little help along the way.
Are You Installing Ivalua?
The first question you should ask when it comes to considering the need for an Ivalua consultant is to figure out whether or not you are actually going to use the Ivalua platform. Obviously, you probably won’t have a need for a consultant if you are not going to install the software. However, if you are considering an Ivalua implementation it is always a good idea to talk to an expert about it and see how it would work for your business.
The difference between talking to a salesperson and hiring a consultant for learning more about the platform is that a consultant not be trying to rush you into a sale. You can glean a lot of information and insight from a consultant, even if you arent’ in the process of an Ivalua implementation.
Being Tech Savvy
If there are people in your organization that are experts in technology and software they might have a better idea about the way that the platform works. If one has an advanced understanding of the Ivalua platform they might be able to handle the installation and implementation of the platform. However, if your tech guru does not understand the fundamentals of procurement and sourcing they may come into some problems when it is time to set up the inner working parameters.
Although technology is the core of the application, the tasks that it performs are what gives it the ability to be such an asset to a company.
- Source management
- Spend management
- Contract management
Setting up the information that the app will require in order to do any sort of management tasks will require a certain level of knowledge about procurement and spending practices.
Getting the Most
Ivalua is a powerful and complex platform that is capable of creating real change at the core of a business. For most companies, the heart of the business is where the money is coming in and going out. It is kind of like a heartbeat that should be balanced in a way that takes advantage of the incoming funds and limits the number of outgoing funds.
Optimal spending is a way to get the very most out of every penny that the company comes into contact with. When the platform is dialed in the way that it is supposed to be the company can see where the real savings are and how to effectively spend money.
The average person will not understand how to program the software with the unique parameters that are most beneficial for the needs of each company. One thing that a great consultant will be able to do is to understand your business in a way that allows them to create and recommend parameters in the beginning stages of the administration of the software.
Connecting with the right sources and having access to the correct information is key for business efficiency. A consultant will be able to show the business owner how to input sources for information that will be beneficial for the company.
A consultant will be able to show the company how to get the most out of all of the features that the platform has to offer such as:
- Strategic sourcing
- Contract management
- Direct spend management
- Procure-to-pay
The only way to reap the full benefits of your investment is to get the most out of every function that you use.
Tidying Up Spending Practices
In addition to companies wanting to jump onto the digital transformation train, businesses are interested in the power of Ivalua because they know that with the help of the platform they can optimize their spending.
A consultant can help a business take a closer look at each of its spending practices and see where it can do better. Although it is entirely up to the company to do the work that needs to be done, the consultant can guide the process from one end to the other and show where optimal spending opportunities are present.
For example, one of the functions of the platform is to use strategic sourcing to find sources as opposed to blindly looking online or wherever. The software has the ability to locate sources that are within the parameters of a customized search. These parameters can be markers for:
- Highest rating
- Best prices
- Products available
- Services available
Since every company will have a need for varying sources it is fairly easy to customize a search that gives results for specific details.
In addition to the search parameters, the software can create a list of potential sources and match them against each other so that you can see the differences side by side and make educated decisions on which sources you would like to move forward with.
Do You Need Contract Management?
Many corporations take advantage of the contract management function that is nested within the platform. However, this aspect of the program is a little complicated. The developers added a little bit of artificial intelligence functionality into the software so that the platform can make decisions if they are programmed into it.
The regular person will not know how to program the software into an optimal helper that will be able to maintain contracts, choose whether or not to renew contracts before they expire, and even enforce contract agreements during the payment step of the source-to-pay process.
Even the smartest of business owners will need a bit of help getting this function going correctly. If your company is going to take advantage of contract management it is a good idea to get the help of a qualified consultant.
Administration and Creation
The initial setup of the platform is pretty tricky unless you know exactly what you are doing. Not that you would have to be a rocket scientist, but pretty close. The admin process is when the parameters and permissions of specific users are set into action. Since the platform will give access to sensitive information such as accounts and amounts of money there will have to be specified admins of the program who could have access to money and the ability to move money if need be.
Not all employees will need to have full access to all of the information in the platform, nor will they need to have the ability to make changes.
Only a person with extensive knowledge of the platform will be able to create users, groups, permissions, and administrative parameters that will govern the way that the program works. If you want your platform to work the best for you, hiring a consultant might be wise.
Conclusion
Realistically, anybody that is going to implement an Ivalua platform should hire a consultant. Although hiring one may seem expensive at the time, the money they can save you and bring back to you from the proper implementation will more than cover any of the costs of hiring one.