With its patented AI-powered spend-classification engine that learns data idiosyncrasies for entire industries such as oil & gas, 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, iCost) empowers oil & gas companies to:

• Perform powerful multidimensional spend reporting, identify cost-savings opportunities in categories such as professional services, freight & transport etc. and gain greater control over noncompliant spending
• Aggregate fragmented, difficult-to-predict MRO spending
• Formulate independent understandings of total cost drivers to optimize decision making in complex subcontract award processes
• Automatically identify and quantify cost-saving opportunities across spend categories such as intercompany spend, transportation, freight etc.

The Zycus e-Sourcing solution is built for speed, collapsing sourcing cycle times to enable oil & gas companies to take full advantage of favorable commodity market conditions as they arise and drive to true market pricing using live e-auctions. Capable of modeling competitive sourcing events for everything from simple commodities to highly complex major subcontracts, the Zycus e-Sourcing solution (iSource, iManage) empowers oil & gas companies to:

• Quickly build sourcing events and solicit supplier bids from anywhere in the world
• Analyze complex inputs from suppliers and award business both promptly and optimally
• Employ custom oil & gas sourcing project templates and start-to-finish workflow management to identify & quantify cost-saving opportunities across spend categories such as intercompany spend, logistics, freight etc.

With its unique blend of supplier information management, performance management and collaborative performance improvement capabilities, the Zycus Supplier Management solution (iSupplier, iPerform) is a perfect fit for the oil & gas industry. The solution enables procurement to:

• Obtain and maintain accurate and timely information around supplier credentials and certifications (for example EH&S standards)
• Employ KPIs (transportation cost per one thousand barrels, production throughput etc.) customized for oil & gas supplier categories
• Enhance supplier development programs by comparing supplier perfromance on SLAs and other contractual obligations

The Zycus Contract Management solution (iContract) minimizes risk exposure in contracts and empowers oil & gas industry procurement teams to:

• Ensure use of proper standard clauses for a wide variety of purchase types (drilling, rig operations etc.)
• Match transactions to contracts to assure utilization and compliance to pricing and other performance terms
• Make sure that contracts are never renewed automatically without proper due diligence
• Ensure that supplier service level agreements (SLAs) are part of contracts to minimize risk in subcontracting activities