Princeton, NJ, USA – April 23, 2008 – Zycus Inc., a global leader in Spend Management software solutions, today announced that Forrester Research, Inc. (Nasdaq: FORR) a leading independent technology and market research company has released a research report on the Automated Spend Analysis Solutions market - “Market Overview 2008: Automated Spend Analysis” (April 2008).
Forrester listed Zycus as one of three vendors which have collectively garnered 64% of market share in 2007.
Anurag Dixit, VP – Marketing, Zycus Inc. said, “We are honored that Forrester has listed us among the top three market share leaders in automated spend analysis in 2007. Zycus pioneered the concept of Spend Data Management and AI based classification for detailed spend visibility. We have continuously demonstrated our commitment and ability to provide innovative solutions that have been adopted by more than 100 companies in 14 countries”.
Andrew Bartels, VP and Principal Analyst, Forrester Research, Inc. wrote that vendors like Zycus “have been using both rules-based and machine-learning analytical engines for several years, have a rich knowledge base derived from work with many large clients over many years, can handle spend data in many different languages, and can provide good data importing and analytics capabilities.”
The report also notes that established vendors with rich knowledge bases built from working with many clients have a decided competitive advantage.
Zycus uses patented Artificial Intelligence based software that moves beyond slice-n-dice reports that are difficult to use in an objective and result oriented process. This process based approach allows Chief Procurement Officers 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.
The report also notes – “The value of spend analysis on a recurring basis is convincing more enterprises to invest in automated solutions. The value is greatest for large, global enterprises with multiple divisions and multiple ERP systems; because it is almost impossible for them to get a consolidated view of their enterprisewide spending without this kind of product. But smaller companies with a few divisions and a single ERP can also benefit from more granular categorization of their spending.”
The complete report “Market Overview 2008: Automated Spend Analysis” is available at http://www.forrester.com/Research/Document/0,7211,43066,00.html
For more information on Zycus Automated Spend Analysis solutions visit http://www.zycus.com/solution/actionable-spend-analysis.html
Zycus has recently entered the eSourcing space with the introduction of its Strategic Sourcing suite that addresses the entire process of analysis, planning, supplier evaluation and negotiations. Zycus’ new solution empowers rapid user adoption resulting in sustained savings through extremely easy to use software that automates the entire strategic sourcing process. For more information on Zycus eSourcing solutions visit http://www.zycus.com/solution/strategic-sourcing.html
About Zycus
Zycus is the world's leading provider of Spend Management solutions to Global 1000 companies. Zycus' solutions suite, comprising of eSourcing and Actionable Spend Analysis 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 initiative and objective oriented process. With proven Spend Management deployments across the globe and over 100 implementations, Zycus' solutions have become 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 information@zycus.com or log onto http://www.zycus.com
Press Contacts
Zycus:
Anurag Dixit
Vice President-Marketing, Zycus Inc.
anurag@zycus.com
+1 888 451 0145
Sandeep Viswanathan
Sr. Manager-Marketing Communications, Zycus Inc.
sandeep.v@zycus.com
+1 866 563 9219 extn 7680
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