Banking & Financial Services

Spend Analysis

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:

Perform powerful multidimensional spend reporting in support of rigorous financial reporting and compliance requirements
Understand how spending rolls up by product lines and costly operational processes
Gain greater control over noncompliant spending and identify more opportunities for placing services such as asset and risk management, consulting, legal, staffing/recruiting, IT consulting and marketing under management by procurement
Automatically generate strategic opportunities for supply base rationalization, contract compliance improvement, demand aggregation and payment terms rationalization

eSourcing

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:

Quickly build sourcing events and solicit supplier bids from anywhere in the world
Engage and easily solicit input from authoritative spend stakeholders
Analyze complex inputs from suppliers
Award business both promptly and optimally

Supplier Management

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:

Tracking of suppliers and other commercial partners with respect to financial stability and performance to service level agreements (SLAs)
Compliance under Basel II/III requirements for capital, liquidity and leverage
Adherence to best practices for business continuity planning (both disaster recovery and business resumption)
Compliance to such standards as International Financial Reporting Standards, Anti Money Laundering, Sarbanes-Oxley Act, Gramm Leach Bliley Act, Bank Secrecy Act, Foreign Corrupt Practices Act and Financial Services Authority (U.K)

Contract Management

The Zycus Contract Management solution (iContract) minimizes risk exposure in contracts and empowers procurement organizations to:

Ensure use of proper standard clauses for a wide variety of purchase types (for example IT outsourcing, office supplies etc.)
Match transactions to contracts to ensure utilization and compliance to pricing and other performance terms
Make sure that contracts are never renewed automatically without proper due diligence

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.
Industry Challenges Weak economic growth, volatile financial markets and increasingly stringent standards around lending, fees, financial accounting and risk management will continue to constrain revenue growth potential and focus attention on reducing and controlling costs Industry and government oversight and regulation is becoming more complex and substantially stricter on both national and international levels Consumers continue to demand a fast pace of technological innovation, requiring significant ongoing investment in product and service development across geographies There are greater demands for ironclad data and systems security, information privacy and protection
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 Spend Analysis 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: Perform powerful multidimensional spend reporting in support of rigorous financial reporting and compliance requirements Understand how spending rolls up by product lines and costly operational processes Gain greater control over noncompliant spending and identify more opportunities for placing services such as asset and risk management, consulting, legal, staffing/recruiting, IT consulting and marketing under management by procurement Automatically generate strategic opportunities for supply base rationalization, contract compliance improvement, demand aggregation and payment terms rationalization eSourcing 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: Quickly build sourcing events and solicit supplier bids from anywhere in the world Engage and easily solicit input from authoritative spend stakeholders Analyze complex inputs from suppliers Award business both promptly and optimally Supplier Management 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: Tracking of suppliers and other commercial partners with respect to financial stability and performance to service level agreements (SLAs) Compliance under Basel II/III requirements for capital, liquidity and leverage Adherence to best practices for business continuity planning (both disaster recovery and business resumption) Compliance to such standards as International Financial Reporting Standards, Anti Money Laundering, Sarbanes-Oxley Act, Gramm Leach Bliley Act, Bank Secrecy Act, Foreign Corrupt Practices Act and Financial Services Authority (U.K) Contract Management The Zycus Contract Management solution (iContract) minimizes risk exposure in contracts and empowers procurement organizations to: Ensure use of proper standard clauses for a wide variety of purchase types (for example IT outsourcing, office supplies etc.) Match transactions to contracts to ensure utilization and compliance to pricing and other performance terms Make sure that contracts are never renewed automatically without proper due diligence




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Banking and Financial Services

Spend Analysis

eSourcing

Supplier Management

Contract Management