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Artificial Intelligence has become a rage in modern times. With applications touching every aspect of human life from
business to leisure, this new-age phenomenon is sure to set the stage for the future of technology.
That being true, it is of grave importance for large enterprises, especially in businesses, to delve deep into the
benefits that AI can offer in their respective scenarios. Drawing tangible value out of evolving concepts is critical to put any organization on its progress path early on. This is especially true for procurement as it is being looked at as a strategic cornerstone and goal accelerator in the long run.
Zycusโ Merlin AI takes over tactical tasks and empowers procurement and AP users to focus on strategic initiatives thus enabling their organization to #DoMoreWithLess.
Take your first steps towards #CognitiveProcurement: Visit the Merlin Experience Center today!
So how does one identify the right procurement technology vendor for problems specific to onesโ business goals,
industry, supplier network & long-term strategy? Here are a few filters one can apply when looking for a vendor:
1. Long-standing industry experience:
A vendor that has sustained a long industry run is the best to opt for. Such vendors have had the wisdom to foresee the futuristic demand in AI and were brave enough to take the necessary risk to invest in tech development in this direction. Such vendors would have witnessed the transformation that AI can bring, built products with intelligent real-time data gathered over the years, have happy returning customersย & are thus ahead of the learning curve with respect to their competitors.
Do you know why Zycus is the best cognitive procurement alternative in the market? Hereโs why:
- Zycus Merlin AI suite is an organically built industry pioneering solution range catering to the entire Source to Pay cycle.
- Zycusโ 20 year AI legacy and leadership in Cognitive Procurement sets it apart from most of its competitors. By prioritizing innovation and business need, Zycus has successfully helped numerous organizations transform their S2P stories.
Customer Talk:
โDigital Transformation is as much a people change as it is a technology change, so weโre adjusting procurement processes to use AI effectively. I see the benefits AI automation will bring to our procurement function. We want to keep working with Zycus team closely to best leverage the technology and digitize our procurement.โ Temitayo Younge, Porche
Influencer Talk:
โAI is no longer an experimental offering and is now clearly a strong differentiator for a few vendors. Zycus
has emerged as a distinctive leader in AI-powered full suite vendor in Gartnerโs 2021 GMQ.โ Jon Hansen, Procurement Insights
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Visit: https://zyc.us/3u5zt8z
2. Leadership in analyst circles:
Analysts like Gartner & Forrester are powerful equalizers for product prowess. These analysts follow strict
benchmarking processes and present a realistic image between product potential and business or industry needs. A vendor
that continuously finds itself amongst analyst mentions is the one who understands this balance well and works
tirelessly to achieve it.
Zycusโ analyst ratings & recognitions are second to none, making it the best option in procurement AI:
โZycus has developed a suite of AI capabilities (Merlin) to enhance the customer experience and automation across the P2P process.โ โ GMQ P2P, 2021
โZycusโ CLM offering differentiates with natively built AI and the power of its platform.โ โ Forrester Wave CLM Buy-side, 2021
3. Driving AI adoption with ease of use:
CPOs find it challenging to comprehend the strategic value that AI can deliver when applied in areas like eProcurement,
Accounts Payable Invoice Automation, Spend Analysis, Contract Management, or Supplier Risk. Since AI is evolving, a
realistic expectation from procurement decision-makers thus is not to look for any magical transformation but start with
smaller and clearly defined challenges. A vendor that strives to educate you & assists you to clear the uncertainty
is probably the one whoโs experimented with it before & is reliable for sure.
Real-World Application: Dow Enhances Procurement Efficiency with AI
In our ongoing exploration of artificial intelligenceโs transformative impact, itโs essential to showcase how leading organizations are applying these technologies to streamline their operations. Dow, a global leader in materials science, implemented Zycusโ Merlin AI solution to enhance its procurement efficiency.
Discover how Dow successfully leveraged Zycusโ advanced AI technology to transform its procurement operations and achieve significant efficiency gains. Watch the video below to learn more about their journey and the remarkable improvements they experienced.
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Know moreย about the best AI alternatives in procurement technology.
Sources
- Gartner P2P MQ 2021 is a great equalizer; AI is the key differentiator
- Zycus in Gartner Magic Quadrant 2021
- Zycus positioned as a Leader in Contract Lifecycle Management for Buy-Side by an Independent Research Firm
Related Read:
- Blog โ Vendor Landscape: Supplier Risk And Performance Management
- Blog โ What Procure to Pay (P2P) Transformation Vendors Donโt Tell You?
- Al-powered Vendor Invoice Management System
- Blog โ Effectively Managing Vendor Relationships with AP Automation
- Research Report โ Forresterโs Overview Of 30 CLM Vendors โ Now Tech: Contract Lifecycle Management
- Cognitive Procurement : Procurementโs Playbook for 2022
