Zycus to Host Special Web Seminar on Growing Importance of Procurement Departments with the help of Spend Analysis Technology Innovations
PRINCETON, N.J, July 19, 2011 – Zycus, a world leader in Spend Management Solutions, announced today that, on July 27, 2011 at 2-pm US-EDT, it will host a special educational web seminar focusing on the increasing importance of the procurement departments in organizations today. By empowering these departments with access to real time market and spend data information, organizations can identify more savings opportunities and add value to their bottom line.
The webinar will feature Nick Little, Assistant Director of Executive Development, Eli Broad Graduate School of Management, Michigan State University and Director, APICS Education and Research Foundation along with Shailendra Singh Rao, Product Marketing Manager with Zycus. The speakers will address:
- Factors provoking spend analysis innovation (and directions in which this innovation is headed),
- New technology that facilitates commodity sourcing strategies by combining market intelligence from multiple sources with spend analysis, and
- Real-time spend-data classification that increases the effectiveness and efficiency of the spend analysis processes.
Procurement departments continue to evolve as key value drivers within their organizations, with access to real time information allowing them to make better business decisions. These departments are therefore empowered to proactively classify and analyze spend as and when requisitions occur so data can be classified more accurately. Organizations also need to integrate commodity indices tracking within their spend classification initiatives to increase negotiation leverage with suppliers. Only then can they truly help organizations identify opportunities to add value to their bottom line.
“This webinar is a must for any procurement professional who wishes to help his or her company move beyond reactive spend management and into the realm of real competitive performance improvement – despite the volatile business ecosystem in which most global companies find themselves operating today,” says Anurag Dixit, Vice President of Marketing at Zycus. “We are
particularly excited to have Nick Little as a guest speaker for this event. Mr. Little has extensive industry and international experience in Supply and Supply Chain Management, including British Rail’s prestigious Supplies Management Training Scheme and the U.K. Post Office, where he successfully established a regional and business-unit supply management organization.”
The webinar is being provided free of charge, compliments of Zycus, although registration is required. The event will also feature live interaction with speakers, so guests are encouraged to prepare their own questions for Mr. Little and/or Mr. Rao in advance of attending.