Princeton, NJ, USA – January 23, 2008 – Zycus Inc. (http://www.zycus.com), a global leader in Spend Management software solutions, today announced a significant expansion of its Spend Management Suite, adding new Strategic Sourcing modules with the introduction of version 5.0. Moving beyond eAuctions, the new solution addresses the entire strategic sourcing process of analysis, planning, supplier evaluation and negotiations.
Even as companies have attempted to automate their entire Spend Management process, end-to-end enablement and consistent adoption has remained elusive. As a result, many procurement organizations have used sourcing tools sporadically with an emphasis only on eAuctions. This has led to lower user adoption, not to mention strategy development and planning occurring outside of the core solution suite, limiting knowledge captured throughout the entire process and introducing significant inefficiencies.
Zycus’ new solution empowers rapid user adoption resulting in sustained savings through extremely easy to use software that automates the entire strategic sourcing process. Designed to address the shortcomings of previous approaches, Zycus’ new solution provides integrated strategy development, sourcing planning, supplier evaluation and negotiations.
Says Aatish Dedhia, CEO, Zycus Inc., “Zycus has always led the market with innovation. When we did market surveys, we were surprised to find that although eSourcing was used by a large number of organizations, the adoption and usage within these companies was low. So, after successfully innovating with using Artificial Intelligence for Spend Analysis, Zycus is now focusing its innovation energies on making software extremely ‘Easy to Use’ so that eSourcing gets the universal adoption it rightly deserves.”
Historically, sourcing solutions have focused primarily on e-Auctions. As a result, sporadic adoption and a lack of user-driven innovation were noticed. One of the challenges faced was that in many solutions, it was difficult to create and evaluate RFx’s within the existing tool. Zycus has put significant effort to ensure that powerful functionality - such as creating and evaluating large multi-section RFx’s - is offered through an intuitive and interactive Web 2.0 interface that increases adoption and prevents the RFx modules from becoming shelf-ware.
“In the current business environment, successful strategic sourcing requires a blend of category, process, supply base and technology expertise,” notes Andrew Bartolini, Vice President of global supply management research at Aberdeen Group. “Zycus’ latest offering provides a platform for sourcing teams to bring these pieces together and achieve sustainable results.”
The Zycus Strategic Sourcing application consists of two modules:
Zycus iSource – Zycus iSource is an eSourcing module that provides comprehensive RFX processing, objective supplier bid evaluation and multiple negotiation techniques. Zycus has leveraged Web 2.0 technologies including Drag-and-Drop for RFX creation, Interactive graphical analysis, and collaborative workflow to provide end users the simplicity, speed and power that encourage adoption.
"In order to be more broadly adopted, sourcing tools need easier to use functionality for constructing requests, evaluating bids, and archiving the results of events in a searchable fashion,” said Deborah Wilson, Research Director at Gartner Inc. “The inclusion of strategic sourcing plan development within a sourcing application has the potential to enable purchasing organizations to more cleanly execute to plan,” she added.
Zycus iPlan - Zycus has expanded the definition of Sourcing Solutions and is the first vendor to automate the process of sourcing strategy and plan development. iPlan is fully configurable to leverage existing knowledge assets, or knowledge from partners and consultants. It serves as the perfect ally for a procurement transformation project. Mickey North Rizza, Research Director for AMR Research says “iPlan is the automation of the sourcing strategy including plan and development and was developed by Zycus to put strategy back into sourcing.”
iPlan provides a seven step sourcing process for plan creation. The product allows users to capture and analyze data to be used through built-in tools like commodity profiling, demand aggregation, supply market analysis and total cost modeling for effective sourcing plan development. Mickey North Rizza adds, “Bringing all these areas together can be a daunting task for many companies and once you add in other knowledge based assets or the input from partners and consultants a streamlined work flow becomes very complex. Zycus iPlan provides a planning tool to leverage across these various sourcing aspects and make a difference in strategic sourcing.”
About Zycus
Zycus is the world’s leading provider of Spend Management solutions to Global 1000 companies. Zycus' solutions suite, consisting of Strategic Sourcing 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, visibility and control to increase 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 Analyze, Plan and Source through an intuitive and objective driven process. With proven Spend Management deployments across the globe and over 100 implementations Zycus’ solutions have emerged as a global favorite.
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
Press Contact
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
|
Back
