PRINCETON, NJ, October 28, 2021: Zycus, the pioneer in Cognitive Procurement, announced today that it has been recognized for its 'completeness of vision' and 'ability to execute' in the Gartner Magic Quadrant for Procure-to-Pay Suites, published in October 20211.
Zycus believes this placement in the 'completeness of vision' axis is an assertion to our continuous focus on Merlin AI capabilities, and AppXtend to build a robust partner ecosystem.
Gartner's Magic Quadrant for Procure-to-Pay Suites evaluates solution providers on two parameters - 'completeness of vision' by evaluating them across multiple criteria that show their "ability to understand current and future market trends, customer needs and competitive forces" — as Gartner views them, and 'ability to execute' by assessing its "product's services, sales and marketing execution, and overall operations".
The report evaluated 12 procurement management vendors across these two evaluation criteria and positioned Zycus in the Visionaries' quadrant for its ability to execute and completeness of vision
Commenting on this accolade, Zycus Founder and CEO, Aatish Dedhia said, "We consider Zycus' position in the Gartner Magic Quadrant, and our consistent forward movement in the completion of vision axis, a strong affirmation to our drive to provide P2P as part of a broader S2P strategy, enable Cognitive Procurement with Merlin AI Suite and serve geographically diverse large enterprises across the globe.”
“Gartner estimates that the P2P technology market will experience a 17% CAGR through 2025, representing approximately $7.4 billion. While self-service capabilities and guided buying have often led as primary reasons for adopting a P2P suite, accounts payable invoice automation (APIA) has become a key driver.”
Gartner, Magic Quadrant for Procure-to-Pay Suites, By Kaitlynn Sommers, William McNeill, Micky Keck, Patrick Connaughton, Published October 25 2021.
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Zycus is the pioneer in Cognitive Procurement software and has been a trusted partner of choice for large global enterprises for two decades.
Zycus powers its S2P software with the revolutionary Merlin AI Suite. Merlin AI takes over the tactical tasks and empowers procurement and AP officers to focus on strategic projects; offers data-driven actionable insights for quicker and smarter decisions, and its conversational AI offers a B2C type user experience to the end-users.
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Manager - Marketing, Zycus Inc.