|Procurement Solutions for Insurance industry|
Global market conditions for insurance companies 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 insurance industry’s unique requirements and challenges.
Procurement Performance Impact
360-degree spend visibility and intelligent sourcing gives insurance 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.
Disciplined and thorough contract and supplier management ensure that insurance firms source from the best suppliers and outsourced services partners at the right costs while maximizing compliance and minimizing risks.
|How Zycus Solution Can Help
With its patented AI-powered classification engine that learns spend-data idiosyncrasies for entire industries such as insurance, 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 Zycus Spend Analysis solution (iAnalyze, iMine) empowers insurance companies to:
The Zycus e-Sourcing solution (iSource) offers RFx templates that are specific to the insurance services domain and also configurable for virtually any item or service being sourced, including complex business processes and services outsourcing. The solution enables insurance companies to:
With its unique blend of supplier information management (iSupplier), performance management and collaborative performance improvement capabilities (iPerform), the Zycus Supplier Management solution enables insurance-industry procurement teams to:
The Zycus Contract Management solution (iContract) minimizes risk exposure in contracts and empowers insurance-industry procurement teams to: