Sis Inside Ivalua by Cyrias

DESCRIPTION

Sis Inside Ivalua by Cyrias streamlines the verification of supplier bank details right from the creation of a third-party record in Ivalua. Teams eliminate time-consuming and unreliable KYS (Know Your Supplier) processes, receiving an instant confidence score on the validity of payment information during onboarding or when suppliers request updates. This allows procurement managers to provide their accounting teams with accurate, up-to-date, and verified information, ensuring secure invoice payments.

WHAT THIS ADD ON DOES

• Sis ID solution is naturally connected to Ivalua. Web config simply hosts the key to enable the Sis ID connector
• Ivalua users can verify the validity of IBANs provided by their suppliers for payments as soon as supplier and site records are created in Ivalua.
• Ivalua users can perform bulk IBAN checks across their supplier database to instantly identify valid, incorrect, outdated, or potentially fraudulent bank details.
• For each IBAN verification in Ivalua, users access a color-coded status (indicating risk level for a payment on the bank details) along with detailed reasons to simplify remediation steps for incorrect or fraudulent IBANs.
• A validation process can be configured to prevent Ivalua users from submitting supplier records to accounting teams until the IBAN has been verified.

Each IBAN verification in Ivalua is timestamped, simplifying the traceability of operations.