Ivalua, a global leader in spend management, today announced that it has been selected by Switzerland's Migros Cooperative Retailing to support its wider digital transformation strategy with Ivalua's comprehensive source-to-pay (S2P) solution for the retailers' indirect spend.
Migros is Switzerland's largest retailer and employer and ranks among the world's top 40 retailers and Fortune500 brands. Structured as a cooperative, Migros is a diversified and vertically integrated group of companies with retail at its core and organized into five strategic business units (Cooperative Retailing, Migros Industrie, Commerce, Travel and Financial Services). In 2021, the Group generated revenues in excess of $29 billion, and with roughly 97'500 employees Migros is Switzerland's largest employer.
The rapidly changing market requirements and continuously evolving technology landscape led to the formulation of Migros' central IT environments, with a focus on optimizing cost-intensive legacy systems and streamlining processes throughout the entire organization.
As part of this effort, Migros reviewed its complete Indirect - S2P process, spend data strategy, and existing solutions portfolio in order to improve cycle time, reduce time spent on non-value-added activities and boost collaboration between all involved internal and external stakeholders.
"Ivalua's platform approach and the flexibility of the solution allows us to address the complexity of our organization, substantially improve the user experience, and streamline our end-to-end processes and workflows across our different spend categories," said project leader Reto Rietmann, Head Strategic Procurement at Migros Cooperative Eastern Switzerland. "I expect the Ivalua platform to act as an accelerator for our digital transformation project, which will further increase the value of indirect procurement for our internal customers, our suppliers and the company as a whole," he concluded.
"Ivalua's solutions seem particularly well suited to the transformational objectives of the Migros Group, and our teams are delighted to work with such an impressive retail brand, thereby strengthening our footprint in the Swiss market", said Franck Lheureux, Ivalua's Chief Revenue Officer.
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