SOUTH AFRICA, Oct 22, 2009 - Zycus, a world leader in Spend Management solutions has announced today that FirstRand Limited, an integrated financial services group and one of South Africa’s largest companies, has chosen Zycus Spend Analysis to transform its raw, unstructured spend data into identified savings opportunities.
FirstRand Group required an accurate and reliable view of spend across their multiple divisions. Their current processes lacked the ability to consistently classify data, making them undependable. Zycus with its robust, flexible and best-of-breed Spend Analysis solution will help FirstRand identify opportunities for savings while significantly reducing the cycle time required to gain visibility into their spend.
“Along with a savings directive, we had a very important business mandate of maintaining socioeconomic vendor diversity and because of our unclear spend visibility we were unable meet these objectives. We chose Zycus because of their global domain expertise, granular level of visibility their solution provided and their willingness to work with us to help us identify the savings opportunities thus addressing our long and short term business goals.” said Joanne Van Der Westhuizen, Head of Operational Procurement at FirstRand Banking Group.
“We are proud to partner with FirstRand as we try to build on our global momentum in the financial sector.” said Anurag Dixit, VP – Marketing at Zycus. “Zycus will enable FirstRand to streamline and automate their Spend Analysis processes to identify and create greater savings opportunities.”
About FirstRand
FirstRand is an integrated financial services group structured with critical mass to take advantage of the blurring of boundaries in the financial services industry and the convergence of products and services. The group provides a comprehensive range of products and services to the South African market and niche products in certain international markets.
Listed on the JSE and the Namibian Stock Exchange, FirstRand Limited is an integrated financial services group providing a comprehensive range of products and services to the South African market and niche products in certain international markets. FirstRand Limited is one of the largest financial services groups in South Africa by market capitalisation.
About Zycus
Zycus continues to deliver on its heritage of providing best-in-class spend management solutions that are world renowned for delivering an accelerated return on investment through superior user adoption to create Maximized Savings. Zycus’ solutions are built from the ground up combining cutting-edge technology and domain expertise, enabling higher performance and sustainable value to organizations worldwide. Zycus provides global spend management solutions to more than 170 leading Fortune 1000 customers that consider spend management software, processes and technology strategic to their competitive advantage. Zycus Spend Management solutions automate and streamline the processes of spend analysis, strategic sourcing and contract management.
With more than 150 global proven implementations, Zycus' solutions have emerged as the global favorite. Zycus has more than 250 employees across North America, Europe and Asia-Pacific. To learn more about Zycus, e-mail information@zycus.com or visit www.zycus.com.
Press Contacts
Holly Glennon
Global Marketing, Zycus Inc.
Holly.glennon@zycus.com
Direct: 770-837-2591
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