Covea chooses Ivalua Buyer V7 for the deployment of its Purchasing Information System

Press release

Covea chooses Ivalua Buyer V7

For the deployment of its Purchasing Information System

Redwood City, March 20th 2012 - Covea is a leading mutual insurance group with 10.7 million customers and sales revenue of over 18 billion USD in 2011. The group has selected the Ivalua Buyer 7 suite to deal with the full scope of their Strategic Spend Management processes from sourcing and contracts to relationship management of their 9300 suppliers. As part of its approach for pooling indirect purchases, Covea set the following goals for improvement: clarify the added value of purchases, secure contracts and increase the contribution and efficiency of procurement.

After identifying the needs of about sixty in-house buyers, several projects were completed to ensure common ground for the three mutual insurance companies. Among the actions undertaken were: the publication of a purchasing lexicon enabling all buyers to share the segmentation of Covea purchases, buyer and business manager access to the flexible and modular e-Procurement tool Ivalua Buyer V7, and the implementation of a collaborative approach to issues such as intellectual services, training, transportation, etc.

Common performance indicators have been integrated into the Group's procurement information system to provide a comprehensive view of spending and thus support Covea's desire to master and pool expenses.

"By launching this project, we wanted to create a common culture to the three mutual insurance companies without creating a cumbersome process. That's why we chose Ivalua Buyer V7 which convinced us with its intuitive ergonomics and flexibility of configuration in addition to its comprehensive functionalities. The will enable both buyers and managers to have a crystal clear vision of their purchasing projects, while also maintaining a qualitative database of suppliers." explains Joaquim Pinheiro, Covea's Vice-chairman.

"We are proud to be entrusted by Covea in the deployment of its Purchasing IS. This project is both rich in its functionalities and a major milestone in establishing common ground for the three brands of the Group," concludes Gerard Dahan, VP for Marketing and Communication of Ivalua.

Founded in January 2000, Ivalua has become one of the leading software vendors in the global market for e-procurement solutions. Its Ivalua Buyer V7 software suite covers all purchasing processes, from supplier relationship management to spend analysis, as well as e-Sourcing, e-Procurement and invoice management.

Based in Europe and in the United States, Ivalua has successfully deployed over 100 projects in large international corporations across all sectors. This has allowed Ivalua to show high growth while continuing to stay profitable since its creation. Today, Ivalua solutions have been widely proven and adopted by thousands of users around the world.

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The group insures 10.7 million customers in France via its three companies MAAF, MMA et GMF in 2011

N°1 for residential property insurance in France

Sales in 2011: over 14 billion euros. 

Press  Contacts :

Jerome Mills - IVALUA Direct line: (650) 930-9713-

Celine Tran - IVALUA Direct line: (650) 930-9717-