...

Bank of Cyprus Transforms Procurement with AI in Nicosia

As a highly regulated financial institution based in Nicosia, Cyprus (EMEA region), Bank of Cyprus needed a procurement transformation to eliminate manual inefficiencies, meet European Central Bank (ECB) compliance, and streamline sourcing and contract management.
At Horizon Europe 2024, Zycus’ flagship event, George Charalambous, Enterprise Sourcing & Procurement Analyst, shares how Zycus’ AI-driven automation revolutionized their procurement, eliminating manual data entry, enhancing compliance, and accelerating operations.

Why Zycus?

  • Regulatory Compliance Made Easy – AI-powered contract scanning & risk assessment for ECB reporting
  • Seamless Sourcing & Contracting – End-to-end automation, eliminating paperwork & inefficiencies

Business Impact:

  • 100% Automated Invoice Processing – Reduced accounts payable team from 10 to 2 employees
  • Automated compliance tracking for 100+ regulatory data points
  • Faster approvals & sourcing cycles, ensuring smooth operations

Recommended Videos

Race to Stay Relevant: The Case for Procurement AI Agents in 2025 (A Panel Discussion)

Source to Pay Excellence: Hapag-Lloyd’s Journey Unveiled

Building a Resilient Supply Chain in the COVID-19 Era and Beyond

Zycus Named a LEADER in the IDC MarketScape: Worldwide Source-to-Pay Applications 2025 Vendor Assessment

Source to pay
Why This Report Matters for Procurement Decision-Makers

Download Your Complimentary Copy

IDC Report 2025

Consent
This field is for validation purposes and should be left unchanged.