Banking and Financial Services
|Procurement Solutions for Banking & financial Services industry|
Global market conditions for banks & financial services (B&FS) firms could not be more demanding. But if the challenges are numerous, so are the opportunities for procurement and supply management teams to affect business performance in positive ways. Zycus is here to help. We offer customized solutions that are highly attuned to the B&FS industry’s unique requirements and challenges.
Procurement Performance Impact
360-degree spend visibility and intelligent sourcing gives B&FS industry procurement teams enormous power to maintain cost competitiveness, increase profitability, accelerate cash flow and source more globally in support of both innovation and new-market penetration opportunities.
Massive employment cuts made in recent years suggest the B&FS industry must look more to suppliers and service providers to meet demands for innovation going forward. Intensifying regulatory and data security requirements will also have significant implications for the ways in which B&FS firms qualify, certify and manage commercial relationships with suppliers. Disciplined and thorough supplier and contract management solutions can ensure that B&FS firms source from the best suppliers at the right costs while maximizing compliance and minimizing supply-related risks.
|How Zycus Solution Can Help
With its patented AI-powered spend-classification engine that learns data idiosyncrasies for entire industries such as B&FS, Zycus offers both standard and custom spend taxonomies that can be leveraged to accelerate analysis and drive classification accuracy across all categories to 90% and beyond. The complete Zycus Spend Analysis solution (iAnalyze & iMine) empowers B&FS companies to:
The Zycus e-Sourcing solution (iSource) offers RFx templates that are specific to the financial services which are configurable for virtually any item or service being sourced, including complex business process and services outsourcing. The solution enables B&FS companies to:
The Zycus Supplier Management solution (iPerform) collects all supplier information in a single structured repository and offers a prepackaged KPI library for the B&FS industry, which includes metrics and capabilities for ensuring that supplier credentials are both valid and current using automated screening and data validity checks. The solutions enable:
The Zycus Contract Management solution (iContract) minimizes risk exposure in contracts and empowers procurement organizations to: