The payment process required for international trade is complex, expensive and high risk for both suppliers and buyers. The partnership with Transfermate removes this friction, creating a transparent, rapid and low-cost solution to paying suppliers anywhere in the world.

Redwood City, CA, October 25, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces a partnership with TransferMate, the leader in global B2B payments infrastructure as a service. This strategic relationship strengthens the payments capabilities released by Ivalua earlier in the year, ensuring a seamless source-to-pay journey for customers and enabling frictionless international payments for all suppliers, regardless of where they are located.

Today supplier payments, especially those that facilitate global trade, follow a complex, costly, and time-consuming process that often results in late payments. With global trade volumes expected to grow by 4,7 % in 2022*, the financial friction that arises from such transactions weakens links in the supply chain. This partnership will simplify payment processes by offering next-day payments to any supplier, regardless of their location. With this, businesses can unlock new opportunities and innovations by finally closing the cash gap between procurement and suppliers. By paying suppliers on-time, procurement teams can use payments to build strong, reliable, and performance-driven supply chains.

Ivalua Payments enables much needed collaboration, automation, transparency, and speed to an often inefficient and costly process. By bringing Procurement and Finance together, customers will be able to trade goods and services at the best price and guarantee on-time (or early) payment in a secure, efficient, and cost-effective manner. Not only does this improve supplier liquidity and support their financial health, but it also strengthens the relationship to create robust links in the global supply chain.

"Having the complete source-to-pay journey within the Ivalua Platform will help our customers build stronger, reliable supplier relationships," said David Khuat-Duy, Founder and CEO of Ivalua. "Our partnership with Transfermate will help to simplify and streamline complex, costly payment processes, but also bridge the gap between procurement and finance processes," concludes David.

“Our unrivaled licensing and banking networks are setting new standards of security, transparency and speed for B2B cross-border payments,” said Sinead Fitzmaurice, CEO of TransferMate Global Payments – a subsidiary of the Clune Tech Group. “We are delighted to be partnering with Ivalua to complete the advanced capabilities of their pioneering new payments platform, helping them to eliminate the friction inherent in the financial processes of international trade.”

*According to the World Trade Organization, October 5, 2021

Notes to Editors

Ivalua's solution enables international and domestic next-day payments in hundreds of countries and currencies, including real-time FX spot rates, within the same automated workflow. With a totally secure and interconnected B2B payments experience, not only are supplier inquiries reduced, by removing the ERP overhead, procurement turns cashflow into a tool that adds to bottom-line savings. A win, win for Procurement and Finance teams plus a massive boost for global business growth and recovery.

Acerca de Ivalua

Ivalua is a leading provider of cloud-based Spend Management solutions. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, lowering risk and improving employee productivity.

Learn more at www.ivalua.com.

About TransferMate Global Payments

TransferMate, una subsidiaria de Clune Tech Group fundado por Terry Clune, es el proveedor mundial líder de infraestructura de pagos B2B como servicio, permitiendo que las compañías envíen y reciban pagos internacionales de forma más rápida y simple y a un costo más bajo. TransferMate, bajo la dirección de Clune y la directora ejecutiva Sinead Fitzmaurice, ha creado una de las carteras más grandes de licencias de pago a nivel mundial, incluidos 51 estados y territorios de EE. UU., para ofrecer un respaldo al comercio en más de 200 países y jurisdicciones.

Bancos líderes, compañías de tecnología financiera y proveedores de software se asocian con TransferMate para ofrecer una mejor experiencia de usuario para sus clientes comerciales. La compañía ha creado integraciones a la medida para bancos como ING y AIB, que también son inversores en la compañía. La solución de API de TransferMate permite que los socios digitalicen el flujo de pagos dentro de su software, permitiendo que todas las empresas logren ahorros financieros y de tiempo significativos.