REDWOOD CITY, Calif., Jan. 20, 2025 /PRNewswire/ -- Ivalua, a global leader in spend management, today announced that its founder, David Khuat-Duy, is assuming a newly created role of Chief AI Officer, passing the CEO position to Franck Lheureux, who has served in executive roles at Ivalua for the past 7 years, most recently as CRO. The shift in executive positions is intended to further accelerate the business impact of Generative AI within Ivalua and for its customers while ensuring continued rapid growth and customer satisfaction. David will continue to serve as Executive Chairman of Ivalua's Board.

The advances in Generative AI have created tremendous opportunities for organizations to improve efficiency, decision-making and reduce costs. Ivalua has invested heavily in delivering innovative agentic AI capabilities embedded in its Source-to-Pay platform. Its unique approach ensures maximum security, usability and flexibility in defining and refining use cases. By focusing his efforts in this new role, David will be able to better ensure the rapid developments in AI are fully harnessed in Ivalua's platform to improve business results for Ivalua and its customers.

"AI capabilities are evolving at a breakneck pace and set to transform how we work and how businesses operate", said David Khuat-Duy, Founder and Chief AI Officer at Ivalua. "Ivalua has built the solid foundation needed to benefit from advances in large language models and unlock the promise of AI. In this new, focused role I will be able to ensure our employees and customers can maximize the impact from this exciting technology."

Franck Lheureux has overseen exponential growth at Ivalua since joining Ivalua in 2018. In total, he brings 25 years of experience driving growth at enterprise software companies. Franck is a Supply Chain fellow, supporting Digital Transformation programs at Fortune 500 companies around the world.

"It is an honor to assume leadership of such a successful, innovative company like Ivalua", said Franck Lheureux, CEO at Ivalua. "Our award-winning culture has been the secret ingredient to our success and I intend to maintain that while further accelerating growth."

Ivalua has been regularly named a top employer, including recent Comparably awards for Best Culture, Outlook, and Best Company for Diversity, Happiness, and Career Growth. Additionally, Ivalua has consistently been recognized as a leader by top industry analysts for the strength of its technology, vision and customer satisfaction. Ivalua's close partnership with customers and partners and advanced technology have resulted in an industry-leading customer retention rate of 95-100% for over 20 years.

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.

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SOURCE Ivalua