Leading Off-Price Retailer Switches to
Zycus Spend Analysis
PRINCETON, NJ February 17, 2015– Zycus, the leading source-to-pay procurement solutions provider, announced today that a top off-price retailer of apparel and home fashions both in the U.S. and worldwide is now upgrading to the Zycus Spend Analysis solution. This includes artificial intelligence-powered AutoClass for rapid classification of spend transactions, iAnalyze for both standard and custom analysis and reporting, and iMine for automated identification of cost savings and other performance improvement opportunities.
The global retailer’s selection of Zycus Spend Analysis comes after a rigorous request for proposal (RFP) plus proof-of-concept (POC) and ‘sandbox’ testing phases in which a team of procurement personnel have put multiple solutions through their paces using real spend data.
Zycus offers more frequent spend-data refresh, faster classification turnaround times (by a factor of 2X or more) and a less rigid model overall. Zycus will accommodate a dual classification taxonomy – essentially enabling two views of our spending – as we continue to migrate from a financial- to a more procurement-centric framework.
“While happy with our existing spend analysis solution, we are ready to move to the next level,” says the program team leader. “We want to do more with our business intelligence - and do it faster. Zycus offers more frequent spend-data refresh, faster classification turnaround times (by a factor of 2X or more) and a less rigid model overall. Zycus will accommodate a dual classification taxonomy – essentially enabling two views of our spending – as we continue to migrate from a financial- to a more procurement-centric framework. Zycus also meets our requirements for multilingual capabilities, both in terms of transaction classification and spend reporting,and offers extensive capabilities for enriching our spend data with external intelligence around supplier parent-child relationships, diversity ownership status, financial, and performance-risk profiles.”
“While Zycus has expanded over the years to become a full-suite, global provider of advanced procurement performance solutions across the source-to-pay cycle,” says Zycus CEO and founder Aatish Dedhia, “we have never ceased to invest in our flagship solutions to ensure they track with best-in-class maturity curves for strategic procurement and sourcing worldwide. When procurement leaders wanted to go faster, we went faster. When they wanted greater flexibility, we delivered customization. When they wanted to go global, we went multilingual. When they wanted enrichment, we made that work too. We are delighted that so many leading global companies are choosing Zycus to support their next big moves up the strategic sourcing and procurement maturity curve.”
Manager- Public Relations, Zycus Inc.
Direct: +91 9833311510