PRINCETON, NJ December 22, 2015 - Zycus, a global leader in source-to-pay procurement technology solutions, announced today that a leading global insurance company is moving forward on implementation of the complete Zycus source-to-pay suite, adding three new modules: iSource for e-sourcing, iManage for strategic sourcing process management, and iPerform for supplier performance measurement and management.
The insurer began its transformation journey – from manual to technology-enabled procurement and sourcing processes - back in June 2015 when it first selected the Zycus Contract Management solution following an intensive market due diligence and competitive bidding process. A key differentiator in that initial selection was Zycus’ leading position as a source-to-pay (S2P) full suite provider.
“This is fast-growing global insurance company with big plans for expansion, mainly by acquisition,” notes Zycus CEO and founder Aatish Dedhia. “Their leadership believes that having consistently executed, uniform processes in procurement – backed by a fully integrated technology suite – will enable them to accelerate both the integration of new acquisitions and realization of economies of scale and other benefits. They liked the idea that Zycus has built its suite from the ground up, on a unified code base and user interface, versus patching together point solutions through series of mergers and acquisitions. They also liked that Zycus has built all its solutions solely for the procurement and supply management functions, and has involved procurement leaders from around the globe and all walks of industry, including insurance and financial services, in that development process.”
“We are now seeing a clear shift in the marketplace for procurement solutions,” observes Dedhia, “where procurement organizations are more often choosing integrated suites over point solutions – even when they are not fully prepared to implement all modules right away. As we continue to roll out improvements and to make our solutions even more seamlessly integrated, mobile, and easier to learn and use, we expect this trend to continue gaining momentum.”
Manager- Public Relations, Zycus Inc.
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