Procurement Leaders Talk Supplier Innovation, Big Data, Info Integration and Talent at Horizon 2014

PRINCETON, NJ November 25, 2014 – Zycus, a world leader in Procurement Technology solutions across the source-to-pay cycle, announced the successful conclusion of its third annual Horizon conference for procurement leaders. Held on Nov 9 – 11 at the Ritz Carlton in Amelia Island, FL, the event featured a compelling blend of inspirational talks, educational and practical working sessions, networking opportunities, fun entertainment, including world-class golf and a lively barbecue and beach party, and also Zycus’s Annual Procurement Performance Awards ceremony.

The event attracted some 200 procurement analysts, executives, practioners and media representatives from all over the globe and across a diverse set of industry verticals, from electronics, telecomm and manufacturing to pharma & biotech, building & construction, airlines, publishing, packaging, food & beverage, retail, utilities, banking, insurance, CPG, healthcare and institutions of higher education.

Both mainstage and breakout sessions revealed a number of common themes and concerns that are top-of-mind among contemporary CPOs. These include:

• Supplier relationships. Conference sessions featured much discussion around identifying the most innovative, strategic suppliers to support long-term future business growth and building collaborative, performance-driven relationships not only with first-tier suppliers, but throughout extended supply chains.
• Big Data and predictive analytics. CPOs want in on the huge advances being made in capabilities for visualizing data and extracting meaning and predictive intelligence from massive and diverse business data sets. CPOs are increasingly looking to integrate and combine different types of business information in support of advanced supplier discovery, supply-risk management, innovation, proactive performance management and so forth.
• Performance measurement and value contribution by procurement. CPOs continue to grapple with how to best measure and promote procurement’s performance wins. Sensing that focusing too narrowly on price or cost reduction is a career dead-end, they are actively pursuing new means for contributing measurable commercial and business value in their enterprises.
• Procurement capabilities and talent. CPOs reveal deep concerns about their abilities to find and cultivate the talent, capabilities and ‘soft skills’ needed to advance their strategic objectives and the influence of their organizations. They also face additional challenges of adapting work cultures to attract and retain more millennial-generation talent – for example, by integrating mobile technologies, social media and values of social responsibility.
• Next-generation procurement technology. There is a strong and growing preference among CPOs and their teams for procurement technology enablement that spans and integrates information across the entire source-to-settle process. In one of the main stage sessions by a leading analyst firm, it was reported that some three quarters of procurement inquiries at present reflect either present or future interest in acquiring integrated procurement suites (versus point solutions), reflecting growing maturity both among enterprise procurement teams and in the global market for procurement technology solutions.

The event attracted some 200 procurement analysts, executives, practioners and media representatives from all over the globe and across a diverse set of industry verticals, from electronics, telecomm and manufacturing to pharma & biotech, building & construction, airlines, publishing, packaging, food & beverage, retail, utilities, banking, insurance, CPG, healthcare and institutions of higher education

“We are always so refreshed and energized when returning from a Horizon event,” says Zycus CEO and founder Aatish Dedhia. “It is exciting to see so much change afoot in procurement and to partake in so much lively conversation and debate over just a few action-packed days. On the one hand, we continue to receive strong validation for our decision to organically build a complete integrated procurement suite in support of procurement’s expanding contributions to corporate value creation, innovation, risk mitigation and long-term growth. We are also full of new ideas and directions for our solutions-development roadmap. We extend much gratitude to those who shared their ideas, visions and success stories at Horizon 2014 and to all who attended and will carry the cause of procurement advancement forward through 2015 and beyond.”

Also at this year’s Horizon was a fully realized mobile app, which enabled conference attendees to plan and navigate their attendance at the event, network and follow each other’s activity feeds, vote for their favorite speakers and post event impressions and photos in real-time. Upon departure, one app user opined: “Great event, really took in a lot!” Another said: “Nice experience! Thanks Zycus.” The app’s top user won a free pass while others won discounts on registration for next year’s Horizon 2015, which will convene at the Ritz Carlton Lodge, Reynolds Plantation, Georgia on October 4-6, 2015.