The Business Need for Managing Procurement Savings

What happens when there is lack of collaboration between procurement and finance?

  • Procurement objectives may not be aligned with business performance objectives
  • Savings reported by procurement may not be recognized by finance
  • Mapping the impact of cost savings on the balance sheet may be difficult
  • Keeping a track of forecasted vs. negotiated vs. realized savings, and of cost-savings vs. cost-avoidance gets difficult

With Zycus' unique Financial Savings Management solution feature - iSave - we assure you this will not happen.  Our robust tool-set helps you in tracking savings and in collaborating better with finance.

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How We Help You

We start by listening to your needs.

We then empower our solution to help you meet your procurement objectives, so you have greater business impact through:

  • Calculation of the impact of procurement savings on P&L and balance sheet
  • Ensured transparency into forecasted and achieved savings by maintaining a single version of truth
  • Mapping and automation of existing approval workflows for efficient collaboration between procurement and finance

To have a look at our product, view demo

Financial Savings Management Software Features

iSave

It helps you to track your savings and collaborate better by:

  • Providing function-specific views into individual projects and associated savings
  • Mapping of forecasted savings to budgets
  • Offering financial savings generator
  • Tracking savings across multiple parameters like business divisions, time, savings type and impact type

 

To read more about the tool features, download brochure

Customer Success Stories

Learn how we facilitated better collaboration between procurement and finance teams for our customers.

“The iSave tool helped us capture and report the savings. And it's a very credible suite, in that we are able to audit through the iSave tool, we have defined savings definitions so that they are standardized and enterprise wide. We have hundred percent adoptions.”- Cubist Pharmaceuticals

 

Browse through the customer case studies:

Making Purchase Management Easy for The MENTOR Network

Making Purchase Management Easy for The MENTOR Network

 We had a chance to converse with Scott Fitzgerald, Director of Procurement, The MENTOR Network. Our c...

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Driving Value Through Sourcing and Contract Management at Emirates NBD

Driving Value Through Sourcing and Contract Management at Emirates NBD

We had a chance to converse with Abdullatif Albastaki, Chief Procurement Officer of Emirates NBD. Our c...

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Driving the Spend Analytics Transformation at Cargill

Driving the Spend Analytics Transformation at Cargill

 A global agricultural company with 75 business units, Cargill had a tough time understanding what the...

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See More Case Studies

Financial Savings Management - Resources

“Intelligence is the ability to adapt to change.” ― Stephen Hawking

We believe in value-creation by facilitating procurement knowledge sharing. From analyst reports to whitepapers to webinars, visit our knowledge hub to read about and listen to a variety procurement topics.

 

Driving Sourcing Initiatives through Shared Savings Goals by Matthew Weinberg

Driving Sourcing Initiatives through Shared Savings Goals by Matthew Weinberg

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Walking the Extra Mile: Procurement Greets Finance

Walking the Extra Mile: Procurement Greets Finance

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