Ivalua Introduces IVA Studio for AI-Powered Procurement Automation

Ivalua announced in a press release the launch of IVA Studio, a new platform that enhances its Intelligent Virtual Agent (IVA). The system allows procurement teams to automate any Source to Pay process from the start and manage all procurement activities through a single AI agent.

IVA Studio serves as the control environment for IVA, managing its skills, permissions, tools, and Model Context Protocol integrations. Procurement users can request tasks through natural language conversation, such as sourcing suppliers, benchmarking contracts, or validating invoices. IVA can also operate autonomously within workflows, triggering actions like identifying affected contracts during supplier risk events and proposing mitigation steps.

The platform enforces governance by aligning IVA’s permissions with those of the invoking user and maintaining a full audit log of all actions. IVA learns from user interactions, capturing best practices and compliance rules as skills that improve over time. It supports multiple language models, allowing customers to use Ivalua’s default models or integrate their own.

IVA Studio is currently in beta and will become generally available in the summer.