PRINCETON, NJ January 15, 2015 -Zycus, the leading source-to-pay procurement solutions provider, announced today that a leader in designing, manufacturing and marketing solutions that are changing the way the world cleans, is extending its Zycus implementation to encompass Contract Management and Financial Savings Management solutions.
With Zycus Spend Analysis and eSourcing solutions already in place, this company featuring in Forbes’ 2014 list of “100 America's Best Small Companies” had been looking to expand and enhance its procurement information infrastructure. Combining Zycus Spend Analysis with Contract Management, for example, enables the company to measure and track utilization rates for contracts negotiated with preferred suppliers. “Tracking contract utilization,” says the project lead “will ensure we are always extracting full value from our deals with high-performing suppliers. We will know precisely where off-contract spending is occurring, so we can be proactive about investigating and remedying those situations. The capability will also strengthen our negotiation positions with suppliers and help us to ensure we achieve the volumes needed to realize all negotiated discounts, rebates and other favorable contract terms.”
The company named to Forbes’ 2014 list of “100 Most Trustworthy Companies in America will also deploy Financial Savings Management as a replacement for an internally built legacy solution, which documents and tracks procurement cost savings. Key features of the innovative Zycus solution are capabilities for classifying and tracking cost savings by strategies, types and through various stages of source-to-settle processes (for example, negotiated by procurement, realized based on actual spend, and so forth). The solution also enables procurement to show how various types of savings flow through to top-line corporate financial metrics.
Key features of the innovative Zycus solution are capabilities for classifying and tracking cost savings by strategies, types and through various stages of source-to-settle processes
“The time has arrived,” says Zycus CEO and founder Aatish Dedhia, “when leading strategic procurement organizations have all the basic building blocks they need in place. They have consistent and ready access to detailed, accurate and structured spend, contract, supplier and market intelligence. Now they are shifting focus and finding innovative ways to integrate, combine and analyze their intelligence in ways that better inform sourcing and supply management strategies to drive competitive business performance. We look forward to continuing our support for this long standing association and seeing what they will do with these new capabilities for integrating and extracting value from their procurement information.”
Manager- Public Relations, Zycus Inc.
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