Large Bank in the US Selects Zycus to Transform its Contracting and Sourcing Digitization

Princeton, NJ, May 6, 2020: Zycus, a global leader in AI-driven Source-to-Pay suite, is pleased to announce the signing of a 3-year contract with one of the largest banks in the United States aiming to transform their procurement digitally.

Headquartered in Columbus, Ohio, the parent company is ranked 610th on the Fortune 1000 and is among the largest banks in the United States. The company’s banking subsidiary operates 920 banking offices, primarily in the midwestern US.

The company’s immediate challenge was to organize its roughly 2400 existing contracts. They wanted to adopt a standardized approach on how to automate contracts moving forward. They wanted a robust and reliable solution provider to find the best way to solve their problem and automate the contracting process.

As part of this deal, the organization has licensed Zycus’ iContract and iSourcing module.

“Strategic sourcing is one of our key strengths, and having many customers in the BFSI sector, we understand the challenges and needs of the sector very well. Zycus’ solution will help the customer automate and optimize it’s contracting, making it efficient and easy to manage. We are delighted to be their technology partner,” said Shawn Dean, Vice President Sales – US, Zycus.