DRÄXLMAIER Selects Ivalua to Digitally Transform Direct and Indirect Procurement Processes

REDWOOD CITY, Calif., March 19, 2024 /PRNewswire/ -- Ivalua, a global leader in spend management, today announced that the DRÄXLMAIER Group, a technological leader in the automotive premium segment, has selected Ivalua's Spend Management platform to digitize its procurement operations.

Headquartered in Germany, DRÄXLMAIER is an international automotive supplier that specializes in innovative electrical systems, battery systems, modern electrical and electronic components, and exclusive interiors. The company supports premium automotive manufacturers such as Audi, BMW, Jaguar, Land Rover, Maserati, Mercedes-Benz, MINI, Porsche, Rolls-Royce, and VW throughout the entire engineering process.  DRÄXLMAIER operates in 65 locations worldwide with over 70,000 employees. In 2023, it generated a turnover of €5.6 billion.

DRÄXLMAIER has embarked on a company-wide digital transformation journey with procurement digitization representing one of the key initiatives. After careful consideration, DRÄXLMAIER selected Ivalua's platform including Supplier Risk & Performance Management, Sourcing, Contract Lifecycle Management and eProcurement to streamline its direct and indirect Spend. By implementing Ivalua, DRÄXLMAIER will replace a fragmented landscape of existing IT solutions with an end-to-end, state-of-the-art platform.

"Ivalua's unified Spend Management platform allows us to digitize all key procurement processes for indirect and direct spend, including those unique to our company and the automotive industry," said Robert Suvak, Head of Global Procurement at DRÄXLMAIER. "Our digital transformation will enable DRÄXLMAIER to enhance operational efficiency and continue to shape the future of mobility at a global level."

Ivalua has increasingly become the Spend Management technology provider of choice for the automotive industry, with over 20 vehicle and parts manufacturing customers, including leaders such as Volkswagen, Hutchinson, and many others. Ivalua's ability to support all spend types, including direct, indirect and assets & tooling makes it an excellent fit for the industry. Additionally, Ivalua can digitize processes such as new product introductions and Bill of Materials management which are strategically important to automotive manufacturers. 

"We look forward to empowering DRÄXLMAIER to digitize its direct and indirect procurement processes to continue to drive innovation," said Jan-Hendrik Sohn, Vice President DACH & CEE at Ivalua. "We are delighted to welcome another global leader in the automotive sector to our customer community".

About DRÄXLMAIER

The DRÄXLMAIER Group supplies premium automobile manufacturers worldwide with innovative electrical systems, modern electrical and electronic components, exclusive interiors, and battery systems for electric mobility. The combination of core competencies in the interior, electrical, electronic and battery systems areas makes DRÄXLMAIER unique in the industry. The company thereby covers the entire process chain, from the initial idea, through the development and production process, and up to precisely in-sequence delivery of the products to the assembly lines of premium automobile manufacturers. The inventor of the customer-specific wiring harness, the DRÄXLMAIER Group develops pioneering wiring harness technology as well as electrical and electronic components, all directly in-house. These include multi-voltage and high-voltage wiring harness systems, battery management systems, and intelligent power distributors. DRÄXLMAIER is working on the future of emission-free mobility with its solution for low-voltage and high-voltage battery systems. As an innovative partner for interior systems, the DRÄXLMAIER Group also supplies premium automobile manufacturers with ambient lighting, center consoles, door panels and instrument panels, as well as complete door and cockpit modules.

The DRÄXLMAIER Group as an owner-managed business, responsible and long-range thinking has always been the basis for economic success. It is therefore a core element of its strategy to design its business and production processes, as well as its products, in a sustainable manner and in that way to increase the competitiveness of the company on a long-term basis.

About Ivalua

Ivalua is a leading provider of cloud-based, AI-powered Spend Management software. Our unified Source-to-Pay platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving sustainability, lowering risk and boosting employee productivity. We are trusted by hundreds of the world's most admired brands and recognized as a leader by Gartner and other analysts. Learn more at www.ivalua.com. Follow us on LinkedIn and X.

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SOURCE Ivalua