Princeton, NJ and Oslo, Norway – November 11, 2008 – When Yara International ASA (OSE: YAR, www.yara.com), the world’s leading supplier of mineral fertilizers, became interested in identifying savings while maintaining high quality suppliers and limited supply risks, the company began to look for a comprehensive and practical spend analysis solution that best fit their needs. After evaluating and considering several options, Yara choose Zycus based on the spend management solution provider’s dedication to innovation and ease of use.
Yara’s decision to choose Zycus is indicative of a growing trend in Europe where an increasing number of companies are opting for Spend Management solutions. According to a recent report by the Aberdeen Group on strategic sourcing in Europe, the Middle East, and Asia, organizations in Europe during 2008 are facing a crisis of identifying savings while mitigating risk and driving innovation. Zycus has an added advantage of a rich knowledge base derived from working with many large clients over many years. Its easy to use and innovative solutions can handle spend data in many different languages while providing good data importing and analytics capabilities which works to Yara's advantage.
Established in 2004, Yara International is a Norwegian company that is a world supplier of plant nutrients, nitrogen fertilizers, and ammonia. Committed to driving industry-shaping performance through operational excellence, profitable growth and people development, Yara was seeking to create global spending visibility, generate savings, and maximize their return on investment.
Zycus has already established itself as a thought, technology and market-share leader for the Spend Management domain in the US. The company now aims to create a strong presence in the in the European markets as well, where it sees tremendous potential. With more than 100 customers in over 14 countries, Zycus’ Spend Management software has emerged as the best choice for Global 1000 organizations.
“We are very pleased both with Yara International’s decision to implement our solutions and with our growing involvement in the European market,” said Aatish Dedhia, the CEO of Zycus. “I am confident that we will see continued success in Europe because our solutions can easily be deployed and supported in multiple languages.”
Zycus uses patented AI-based software that moves beyond slice-n-dice reports that are difficult to use. This process-based approach allows CPOs to set, manage and track savings and compliance mandates through a transparent and predictable process akin to a sales forecast. Zycus Actionable Spend Analysis solution presents procurement stakeholders a platform to aggregate, cleanse, classify and enrich cryptic, multilingual spend and supplier data to build a savings pipeline. This next generation solution can be quickly deployed in a SaaS mode to provide a transparent, automated and repeatable spend analysis solution to achieve consistent savings, year on year, every year.
About Zycus
Zycus is the world's leading provider of Spend Management solutions to Global 1000 companies. Zycus' solutions suite, comprising eSourcing, Actionable Spend Analysis and Supply Market Scan tools, combine cutting-edge technology and domain expertise to enable greater user adoption and sustainable savings. Zycus' solutions facilitate greater process planning, control, and increased corporate alignment of Spend Management Initiatives.
Innovation & Ease of use is at the core of every Zycus offering. Zycus' Spend Management Solutions help procurement departments of Global 1000 companies Analyze, Plan and Source through an intuitive and objective driven process. With proven Spend Management deployments across the globe with over 100 implementations, Zycus' solutions have emerged as global favorites.
Zycus has over 250 employees spread across its offices in North America, Europe and Asia Pacific. For more information about Zycus and its solutions please write to solutions@zycus.com or log onto
http://www.zycus.com
About Yara
Yara International ASA is a leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of more than 8,000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.
www.yara.com
Press Contacts
Zycus:
Anurag Dixit
Vice President-Marketing, Zycus Inc.
anurag@zycus.com
+1 888 451 0145
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