Optis Consulting, a leader in procurement and supply chain advisory services, is thrilled to announce the successful go-live of Ivalua's cutting-edge Source-to-Pay solution at the Workers' Compensation Board – Alberta (WCB).
VANCOUVER, BC, Oct. 16, 2023 /PRNewswire-PRWeb/ -- Optis Consulting, a leader in procurement and supply chain advisory services, is thrilled to announce the successful go-live of Ivalua's cutting-edge Source-to-Pay solution at the Workers' Compensation Board – Alberta (WCB) on July 24, 2023. This transformative initiative has supported WCB in centralizing and enhancing their procurement operations to further reflect their commitment to exceptional service that is trusted, transparent and responsive.
Background:
The Source-to-Pay project at WCB aimed to evolve the procurement lifecycle, spanning from identifying procurement needs to finalizing payments and reconciliations. With a desire for a future-focused, sustainable solution, WCB recognized the opportunity to shift from a decentralized procurement environment to a unified and integrated solution that mitigates risks and maximizes value.
Implementation Strategy:
A thorough analysis and review highlighted the opportunity for streamlined processes, reduced manual intervention, and increased visibility into enterprise spend. The culmination of these insights led to the selection of Ivalua as the Source-to-Pay solution, with Optis Consulting partnering with WCB and leading the implementation.
The Implementation:
The implementation of Ivalua at WCB encompassed the deployment of the core Ivalua platform, featuring sourcing, contract lifecycle management, eProcurement capabilities, and seamless integration with the Integrated Financial Management System (IFMS) to optimize invoice processing and payment workflows.
Achievements and Benefits:
Optis Consulting's partnership with WCB delivered positive outcomes:
- Efficiency Enhancement: Streamlined processes and automation significantly reducing manual efforts, eliminating redundancies, and expediting procurement cycles.
- Transparency and Compliance: Implementation facilitated the integration of controls, ensuring the sustained continuation of contractual obligations being met, governance requirements adhered to, and compliance risks minimized.
- Contract Optimization – Enhanced spending visibility supports WCB's ability to negotiate advantageous terms with suppliers, identify cost savings opportunities and exercise financial prudence.
Optis Consulting's Perspective:
"We are immensely proud to have partnered with Workers' Compensation Board – Alberta (WCB) to lead this pivotal Source-to-Pay transformation journey," stated Melissa Benny, Project Manager at Optis Consulting. "Our mission has always been to empower organizations with efficient and effective procurement strategies. This implementation stands as a testament to our commitment to excellence and innovation in the procurement landscape."
Optis Consulting remains dedicated to advancing the procurement practices of organizations across diverse industries. The successful collaboration with WCB exemplifies the positive impact of modernizing procurement ecosystems for enhanced operational resilience.
About Ivalua
Ivalua is a leading provider of cloud-based Spend Management software. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk, and improving employee productivity. We are trusted by hundreds of the world's most admired brands and recognized as a global leader by renowned industry analysts. Learn more at www.ivalua.com. Follow us on LinkedIn and Twitter.
About Optis Consulting
Optis is a North American leader in Source-to-Pay transformation. We provide independent advice, precision implementation, and meaningful results. Our clients choose us as their guide through the transformation journey, partnering with us for our unmatched expertise and quality across our range of Source-to-Pay transformation services. We lead strategy, we implement and support the best technology platforms, and we enable lasting organizational change.
For more information about Optis Consulting and its transformative procurement services, please visit https://optisconsulting.com
Media Contact
Chelsea Tulley-Wrynn, Optis Consulting, 1 (844) 446-7847, [email protected], www.optisconsulting.com
SOURCE Optis Consulting
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