Zycus eSourcing the first to celebrate procurement’s proficiency in negotiation

PRINCETON, NJ – FEBRUARY 26, 2014 – Zycus, a leading source-to-pay and procurement performance suite provider has announced a major new feature release in its iSource electronic sourcing platform. The showpiece of the new Zycus release is an innovative Negotiate feature, which empowers procurement professionals to seamlessly incorporate outcomes from face-to-face and other offline negotiation rounds while still taking full advantage of powerful bid comparison, evaluation and business-award functions after negotiation rounds have been completed.

Easy import-export between iSource and desktop spreadsheet applications empowers buyers and suppliers to revise bid information offline as negotiated at lot and line item levels while still fully documenting bid and revision histories within the iSource system of record. Suppliers participating in one-to-one negotiations must always approve or reject revised bids within iSource before another negotiation round or final analysis and award can commence.

Now our iSource customers get the best of both worlds. On the one hand, they get efficiency; sourcing cycle-time acceleration; more competitive events (because they can include more suppliers); big computing power for multidimensional bid evaluation, analysis, comparison and award, and complete, centralized documentation of all competitive bidding events. On the other hand, they still get to practice the fine art of human negotiation, which is the procurement pro’s core proficiency.”

“Every new feature we develop for a Zycus solution is a feature that real, on-the-ground procurement professionals ask us to create,” says Zycus founder and CEO Aatish Dedhia. “And, since few savvy procurement pros are content to conduct important, strategic competitive bids without some form of direct interaction with suppliers, we have incorporated this interaction into our e-Sourcing workflow. Now our iSource customers get the best of both worlds. On the one hand, they get efficiency; sourcing cycle-time acceleration; more competitive events (because they can include more suppliers); big computing power for multidimensional bid evaluation, analysis, comparison and award, and complete, centralized documentation of all competitive bidding events. On the other hand, they still get to practice the fine art of human negotiation, which is the procurement pro’s core proficiency.”

“The bright young students in these MBA classes are well on their way to becoming consultants and drivers of strategic business transformation,” comments Waugh. “It’s a pleasure to have an opportunity to share not only theoretical best practices and performance benchmarks, but also real success stories they can carry with them into the world to help more business enterprises navigate to best-in-class procurement and supply-chain management performance.”

Other enhancements in the new iSource release include: