January 11, 2022
12

Creating a better procurement function — one user, at a time

“Grudin’s law: When those who benefit are not those who do the work, then the technology is likely to fail or, at least, be subverted.”
― Don Norman

In a revealing statistic in Hackett’s latest P2P benchmark report, the gaps in the ‘usability’ of procurement software become evident. As per Hackett, even for Top Performers: only 20% of stakeholders would describe their user experience as consumer-like.

With end-users who are …

December 22, 2021
12

Zycus hosts Virtual Hackathon- Hackerfest

Hackerfest 2021 was more than absolutely a two-day event that brought together developers, thinkers, designers, and product managers to compete in a virtual hackerfest. Instead, it was an opportunity to create and demonstrate a new feature, tool, or app. The planning for this event began months in advance, with the in-house staff working around the clock to publicize the event, assist with registrations, and oversee the entire planning process.

When …

December 10, 2021
Source to pay
12

5 Key Benefits of Source-to-Pay process Automation

Advantage Source-to-Pay(S2P)

The Source-to-Pay(S2P) process begins with identifying and evaluating relevant suppliers, contracting with those suppliers, placing orders, monitoring the supply of the ordered products and services, authorization, and the final release of payment.  A Source-to-Pay cycle is a holistic approach that covers end-to-end procurement lifecycle.

The automation of the S2P process is a natural outcome of the holistic digital transformation. And the S2P software enables multiple activities such as …

December 8, 2021
12

Key Takeaways For Reimagining Procure-to-Pay Process

When COVID 19 hit us, we were unprepared for the challenges it brought about. Be it something as easy as getting contracts signed, to something as complicated as inventory management, they all brought one thing with them, the question of “How do we do this now?”. The solution was to create a virtual workspace where everything could be within the reach of a few buttons.

With an intuitive panel of …

December 1, 2021
Procure to Pay (P2P) Transformation Vendors
12

What Procure to Pay (P2P) Transformation Vendors Don’t Tell You?

Procure to Pay transformation is the topmost agenda for every CPO. However, no two P2P transformation outcomes are the same. A McKinsey and University of Oxford research suggests that on average, large IT projects run 45% over budget and 7% over time while delivering 56% less value than predicted*. Some can put the whole organization in jeopardy.

Every transformation journey is nothing short of an off-road adventure that …

November 24, 2021
5 Key Accounts Payable Challenges and Solutions
12

5 Key Accounts Payable Challenges and Solutions

Accounts Payable teams often have to walk a thin line between maintaining a strong supplier relationship and ensuring a positive cash flow. Organizations relying on manual and paper-driven processing cycles face inefficiencies across the accounts payable process cycle. Furthermore, AP teams have a complex mandate as they interact with vendors and other business functions.  Without a streamlined workflow it could get disrupted

Cost of Accounts Payable Errors

Ardent Partners study …

November 16, 2021
12

HOW COGNITIVE PROCUREMENT IS GOING TO SHAPE THE FUTURE?

Organizations are looking to CPOs to take on broader and deeper strategic initiatives to create a future proof supply chain. What Covid-19 did to firms globally is no secret. So, apart from cost savings, there are several other goals like innovation, digital transformation, sustainability that have become part of CPO’s agenda. Hence, the biggest question is how to cater to these varied objectives that are there on CPO’s plate?

To …

November 11, 2021
12

5 MOST COMMON PROBLEMS IN ACCOUNTS PAYABLE THAT CFOS IGNORE

Accounts Payable function is fundamental to operational and financial success of many organizations across the globe. Yet it continues to be viewed as a cost center.

It was never uncommon to hear of documents buried in paper trails, missed discounts and strained supplier relationships, etc. But recently, the pandemic added to these woes and proved that, the ways in which many Accounts Payable teams still operate are not just dated …

September 8, 2021
12

ACCOUNTS PAYABLE – A STRATEGIC BUSINESS VALUE DRIVER

Once while reviewing our all time favourite pizza making process, I chalked down the ingredients like flour, cheese, veggies and pepperoni, but the most important ingredient of all was patience in the process! Similarly, technology has become the chief ingredient across departments of an organization and is a vital parameter for an organization to build competitive advantage.

CFOs during these unprecedented times are facing the challenge of keeping costs at …

September 2, 2021
12

8 PITFALLS TO AVOID WHILE IMPLEMENTING PROCUREMENT TECHNOLOGY

The success of any transformation project like most major IT projects depends on how well it is implemented. While the software evaluation often involves multiple rounds of demos, workshops, proof of concept pilots etc., the implementation process is relegated to a check-box afterthought during the evaluation process.

“A McKinsey and University of Oxford research suggests that on average, large IT projects run 45% over budget and 7% over time, while