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Supplier Risk & Performance Management

Supplier Management Software

Unified supplier management solution, with 360-degree supplier information, risk & performance visibility, powered by
Generative AI
Supplier Risk & Performance Management

Optimize Costs, Mitigate Risk, Improve Supplier Relations
- all at one place powered with Generative AI

Porsche
10K+

Suppliers Auto Onboarded

and over a Million of suppliers on
Zycus Supplier Network (ZSN)

With Zycus auto-supplier onboarding, supplier information spread across disparate systems was streamlined, significantly reducing efforts and time for onboarding suppliers by simply uploading a document and auto-populating basic information from the supplier data to the iSupplier form

A Solution that is 'All About Suppliers'

Zycus' supplier management software integrates seamlessly with Gen AI, providing a robust set of features that help you
mitigate supplier risk, enhance supplier performance, and drive innovation throughout your entire supply chain

Supplier Information Management (SIM)

Supplier Information Management

Ditch the Data Chaos: Get a Single View of Your Suppliers

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Get centralized view of all your supplier data, create custom forms including essential details like Company details, TAX ID, Product & Services Category (UNSPSC), Payment Terms etc. Tailor supplier assessments based on the supplier's industry & product category
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Perform holistic supplier risk analysis with Merlin Analytics (MA). Get tailored recommendations to facilitate proactive risk assessments and implement corrective action plans
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Consolidate risk data, including 3rd party providers, into a unified, filterable AI dashboard. Configure risk assessment workflow for potential/ operational suppliers for continuous performance monitoring. Get real-time alerts of potential issues, starting right from the supplier selection stage
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Obtain fast and granular visibility into global spends and unlock potential cost-saving opportunities

Key Zycus Features: iSupplier, Merlin Supplier Qualification Scoring

Supplier Performance Management (SPM)

Supplier Performance Management

Unlock Peak Performance: Analyze & Improve Supplier Success

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Define custom KPIs (Key performance indicators) or import from KPI library, assign weights, define compulsory/ optional questions to track critical supplier scores and metrics. Utilize AI dashboards for real-time supplier performance insights
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Conduct periodic or ad-hoc performance reviews based on set criteria. Create targeted development plans with Supplier Corrective Action Requests (SCARs) to address issues and improve supplier performance over time
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Carry out peer group KPI Benchmarking and get cross-community insights across multiple metrics such as cycle time, category savings, supplier consolidation and many more

Key Zycus Features: iRisk, Merlin Community Intelligence (MCI), Merlin Performance Dashboard, Supplier Corrective Action Requests (SCAR)

3rd Party Supplier Risk Management (SRM)

Supplier Risk Management

See the Big Picture: Identify & Manage Supplier Risk

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Uncover financial, ESG, legal, compliance, information security and other external risk data from numerous internet sources (News/Govt public/ Sanction lists) with Merlin Risk Radar (MRR). Additionally, identify internal risk exposures in terms of supplier performance like active contracts, PO, spends, sourcing events and many more
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Perform holistic supplier risk analysis with Merlin Analytics (MA). Get tailored recommendations to facilitate proactive risk assessments and implement corrective action plans
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Consolidate risk data, including 3rd party providers, into a unified, filterable AI dashboard. Configure risk assessment workflow for potential/ operational suppliers for continuous performance monitoring. Get real-time alerts of potential issues, starting right from the supplier selection stage

Key Zycus Features: Merlin Supplier Risk Radar (MRR), Merlin Analytics, Merlin Risk Dashboard

Zycus Supplier Network (ZSN)

Zycus Supplier Network

Break Down Barriers, Build Bridges: with Global Supplier Network

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Break communication barrier and collaborate seamlessly with suppliers. Leverage ZSN Portal for efficient exchange of information (POs, invoices, contracts- in any digital format) and real-time master data updates, leading to a faster procurement cycle with on-time selection, delivery, and payment
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Collaborate seamlessly with suppliers worldwide with ZSN Multi-lingual Support, enabling smoother communication
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Ensure a positive supplier experience from the very beginning, leaving no space for slow/ miss-communication and eventually create a foundation for stronger relationships for your business

Key Zycus Features: ZSN Portal, ZSN Multilingual Support

Supplier Management Suite Synergy

Supplier management solution seamlessly integrates with Zycus modules and plugs right from the sourcing stage,
optimizing every of source-to-procure-to-pay lifecycle

Supplier Management

Supplier Management
+ Sourcing

Save Time And Cost

Supplier Management
+ Contracting

Mitigate Risks

Supplier Management
+ Spend Analysis

Ensure Transparency

Supplier Management + Procurement

Enhance Performance

Supplier Management
+ Sourcing

Save Time And Cost

Supplier Management
+ Contracting

Mitigate Risks

Supplier Management
+ Spend Analysis

Ensure Transparency

Supplier Management + Procurement

Enhance Performance

FAQ's

Zycus supplier management software goes beyond traditional solutions by leveraging the power of Generative AI (Gen AI) and seamlessly integrating with other Source-to-Pay (S2P) modules. This combination delivers a range of significant benefits for your business including:
  • Reduce costs through better negotiation, spend analysis, and automated workflows.
  • Mitigate risks by proactively identifying potential supplier issues. Improve supplier relationships through enhanced communication and collaboration.
  • Make smarter decisions based on real-time data and insights. Increase efficiency by automating manual tasks and streamlining processes.
  • Gain greater agility to respond quickly to market changes and disruptions.
Zycus provides 3 key modules under their supplier management solution:
  • Supplier information management: This allows businesses to have a comprehensive view of their suppliers and make better decisions about supplier selection, qualification, and management.
  • Supplier risk management: This helps businesses to identify and mitigate risks associated with suppliers. This can help to reduce the impact of supplier disruptions and improve supply chain resilience.
  • Supplier performance management: This allows businesses to measure and improve the performance of their suppliers. This can help to identify areas for improvement and take action to improve them in real time.
  • Zycus Supplier Network: an online portal that connects your business with its suppliers. It streamlines onboarding, communication, and data exchange, fostering collaboration and reducing costs throughout the supplier lifecycle.
Here’s how:
  • Automated Supplier Analysis: Gen AI analyzes vast amounts of supplier data, including performance metrics, financial health indicators, and market trends. This allows Zycus to identify patterns and potential risks that might be missed by humans. 
  • Intelligent Supplier Onboarding and Risk Assessment: Gen AI automates tasks like supplier data entry and verification, streamlining the onboarding process. Additionally, Gen AI integrates with 3rd party resources to analyze supplier’s financial statements and industry data to generate a risk score, helping you identify potential problems early on.
  • Predictive Negotiation Strategies: Gen AI analyzes historical negotiation data and market trends to suggest optimal pricing strategies for different suppliers. This can help procurement teams achieve better deals and maximize cost savings.
  • Generating Custom Reports and Insights: Gen AI analyzes supplier data and generate customized reports and insights tailored to your specific needs. This can help you identify areas for improvement and make data-driven decisions about your supplier relationships.

Vendor management and supplier management are related but distinct concepts in procurement. Vendor management refers to the process of overseeing and managing relationships with third-party service providers or vendors to ensure that they meet the needs and expectations of the organization. Supplier management, on the other hand, refers to the management of the relationships with suppliers who provide raw materials, components, or finished goods that are used to produce the final product.

Zycus’ supplier management software enables you to store and manage diverse supplier data, such as profiles, contact information, performance metrics, financials, compliance details, and contracts. Centralizing this information provides a comprehensive view of your supplier base, empowering data-driven procurement decisions.

The tool assists in internal-risk evaluations through active certification requirements and regular internal surveys, external risk evaluations through risk scores of suppliers from Dun & Bradstreet (D&B) and Bureau van Dijk (BvD) databases. Auto alerts are set for notification of expiry of existing certificates submitted by suppliers. Risk scores of all suppliers along with the contributing factors can be seen on a single dashboard and can be used to segregate suppliers into different buckets.

The tool enables users to highlight diversity suppliers, however, integration with either Spend Analysis or Procure-to-Pay (P2P) suite would be required to track the spend associated with these suppliers.

Resources

Taking a 360° Approach to Supplier Management
Taking a 360° Approach to Supplier Management
White Papers The Why What And How Of Supplier Management
The Why, What And How Of Supplier Management
Iperform Kh
Supplier Risk And Performance Management: Best Practices

Success Stories

procurement management plan
A Fortune 500 Energy Company adds Zycus’ Supplier Performance Management solution
Mondelez
A Multinational F&B Company Streamlined its Supplier Management Using Zycus
Howden
Howden Supercharges Supplier Management Process With Zycus
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