Supplier information becomes more predictive and reliable

PRINCETON, NJ JAN 29, 2014 – Zycus, the world-leading integrated source-to-pay procurement suite provider makes supplier performance analysis more predictive and adds a third party data verification system to its supplier management module. The announcement comes on the heels of the recently concluded webinar “How I Met Your Supplier – Best Practices in Supplier Management”.  The webinar involved a poll with the attendees about their top most supply risk management strategy. As observed in the webinar poll results* the proactive feature updates echo the strategic needs of the supplier managers today.

Enhanced with intelligent analytics, Zycus’ supplier performance management module – iPerform- will enable forward-focused views of supplier KPIs and trend identification that may signal supply-related risk and also indicate any changes needed in either supply-base composition or supplier relationship strategies. The information will also come in handy while devising supplier business-award and supplier development strategies. On the other hand, Zycus’ supplier information management module – now armed with third party sources likes D&B, Equifax – will fetch reliable and updated information, and warn the executives of supplier insolvency, aid risk analysis and verify details about child-labor, carbon footprint, minority ownership and much more.

Additional supplier performance metrics added to the tool include Category Rank of Supplier and a Consolidated KPI View.  Other features released are – inclusive evaluation by different stakeholders, configurable scorecards to aid adoption, easier offline scoring, and a system security audit against malicious software and hackers.

“One thing nearly every customer will say about Zycus is that we listen carefully to all their needs – both strategic and tactical,” says Ashish Mohan Jha, Head, Product Management Group, Zycus. “We constantly develop new solution features – big and small – to help procurement professionals at all levels become more effective at driving business performance with considerably less effort. The new Supplier Management features are great examples of this.”

Enhanced with intelligent analytics, Zycus’ supplier performance management module – iPerform- will enable forward-focused views of supplier KPIs and trend identification that may signal supply-related risk and also indicate any changes needed in either supply-base composition or supplier relationship strategies

“Efficient and effective supplier performance management is a persistent challenge for procurement teams, especially in complex multinational business enterprises,” adds Zycus CEO and founder Aatish Dedhia. The new features we are rolling out will make it easier than ever for: front-line buyers to ensure their stakeholders get what they need every day from suppliers; for commodity managers and strategists to prepare for sourcing events and negotiations; for enterprise procurement strategists to optimize supply-base design and manage risk, and for senior procurement leaders and CPOs to always know what is happening in every corner of supply bases and to be capable of directing important supplier relationship management activities amongst their teams.”

The on demand webcast of “How I Met Your Supplier – Best Practices in Supplier Management” can be viewed here.

* A straight 30% voted for ‘establishing ownership for risk management within their department’ and another ‘29% selected development of supply risk programs with clear risk metrics’. The poll involved over 370 participants