MELBOURNE, AU, August 28 2013 - Zycus, a world leader in Procurement Technology Solutions, announced today that Australian telecom giant Telstra has implemented its Spend Analysis solution. The implementation includes the solution’s advanced iMine feature set, which automates the process of searching enterprise spend data for savings opportunity and other business performance improvement opportunities. iMine can be configured to identify and promote specific enterprise strategies such as supply-base rationalization, contract compliance, demand aggregation, payment term rationalization, purchase price variance and so forth, without any effort whatsoever from the users.
While the implementation represents Telstra’s first move from primarily a manual to now an automated spend classification and analysis process, the company is taking an aggressive approach. It is pursuing both:
- Large-scale analytics coverage - looking at all addressable spend categories and transaction workflows originating in some seven source systems and representing $14-16 billion in annual spending; and
- High-frequency (monthly) refresh of spend-data classification
“While many companies choose to begin more slowly with spend analytics – looking at just a portion of spend transactions and/or refreshing their data quarterly,” says Aatish Dedhia, CEO, Zycus Inc., “Telstra is proceeding directly to best-in-class in terms of creating advanced visibility into total enterprise spend. What is more, Telstra is already demonstrating above-average success in empowering and encouraging its procurement teams to utilize spend-analytics and automated mining of actionable improvement opportunities.”
“Our greatest challenge,” Telstra’s Director of Procurement Operations Simon Rabl says, “was to find a fast and accurate way of classifying a very large number of spend-transactions across a wide variety of source systems and workflows with high frequency. Zycus clearly demonstrated the best ability to meet that challenge and was also quite willing to meet our aggressive implementation timelines.”
“Telstra is well known and highly respected for its dedication to procurement-led business performance improvement,” observes Aatish Dedhia. “We expect to see many more companies following Telstra’s lead in terms of upping the ante for speed, scale and accuracy in spend classification and opportunity identification over the next several years.”
Manager- Public Relations, Zycus Inc.
Direct: 1 866 563 9219