Zycus Financial Savings Management Solution

The Zycus Financial Savings Management Solution creates clear sight lines between procurement and top-line business performance objectives. It cuts across functional boundaries, promotes collaborative measurement, validation, and recognition of cost savings, and brings structure, credibility, and efficiency to the work of driving procurement - and overall enterprise - performance.

While some leaders have found ways to overcome the challenges of aligning procurement with business financial performance management, the cost of doing so can often erode procurement ROI.

To address this challenge Zycus introduces iSave, a first-of-its-kind fully configurable Financial Savings Management Solution that simulates and brings efficiency to a business organization’s processes for tracking, validating and recognizing cost savings.

Zycus iSave resolves long-standing performance management problems for procurement

Alignment - With Zycus iSave, procurement function can,

• Structure and share procurement cost-savings information through a single platform
• Calculate and map impacts of procurement savings to such top-line financial measures as profit and loss, cash flow, cost of goods sold, and balance sheet

Validation - Zycus iSave makes it easier for organizations to recognize cost savings by enabling procurement to,

• Employ workflow to obtain validation of procurement cost savings from stakeholders
• Allocate savings clearly and equitably among stakeholders organizations

Creditibility - The Zycus iSave solution addresses the challenge of defining the how cost savings are driven-by strategy or market movements- by empowering procurement to,

• Characterize and segregate cost savings types - for example, hard, soft, avoidance, revenue share, and so forth
• Characterize savings by sourcing strategy employed - for example, volume, negotiation, and so forth
• Track savings through configurable stages - for example, forecasted, realized, actual, budget down, reinvest, and so forth

• Early procurement involvement in supplier selection or design
• High contract and procurement process compliance
• Development of collaborative (versus adversarial) supplier relationships

Because the Zycus iSave Solution is fully configurable, incorporates accepted best practices, and can simulate any savings-tracking process, there is no limit to how procurement leaders might use the resulting information and insights to drive enterprise performance to new heights.