Today, procurement is evolving from being viewed purely as a cost saving entity to one with strategic importance to the organization. As part of this evolution, procurement professionals around the globe are looking for solutions which would help them move towards this goal.

Globalization has brought along with it the inherent risks of managing the global supply chain. Procurement practices around the world are in the process of adapting to the complex scenarios emerging from working with suppliers across the globe. Dependence of organizations on the world economy has added to the sourcing challenges faced by them.

Be it the earthquake in Japan which resulted in huge losses for organizations due to supply disruption, or fluctuating commodity prices –procurement professionals have a task on their hand.

This case file deals with the challenges procurement professionals face with traditional eSourcing tools and how advanced eSourcing helps overcome the challenges faced by organizations to ensure they remain ahead in a competitive & dynamic marketplace.

Navigating a recession or economic downturn can be quite treacherous for organizations. Zycus’ RRR framework: Review, Reinvest and Redefine enables companies to evaluate their cost structure, prioritize investments that dynamize productivity & generate insights, and facilitate a modern work environment. This is pertinent to AP function-specific automation initiatives as well.

A leading Insurance provider is a good case in point, they implemented Zycus’ Framework in their day-to-day operations and achieved:

• Higher savings of about $100k (GBP 83k or EUR 94k) by eliminating duplicate payments
• Increased early-payment discounts by leveraging favorable terms for quick payments
• Reduced the number of vendor management FTEs by 87%.

Read about the increasing demand of advanced sourcing and what industry experts have to say in this eBook by downloading it today.