Rutherford, New Jersey, U.S.: May 3, 2004: Zycus Inc., the leader in the Spend Data Management suite of software products for Strategic Sourcing, today announced that it has been selected by BearingPoint to provide an automated global spend analysis infrastructure for a Strategic Sourcing consultancy project at a Fortune 50 company.
"Products from companies such as Zycus have the ability to handle a wide variety of data and extract rich information, irrespective of the quality and descriptiveness of each client's spend data," said Peter Buettgen, Managing Director, BearingPoint. "This gives us the flexibility to meet the discerning client's specific demands and objectives."
Faced by the challenge of deploying a global spend analysis solution in a rapid time frame of under 3 months, BearingPoint started to look beyond conventional solutions that have traditionally revolved around services. "Automation" was identified as a key component to ensuring the success for the project. In addition, the challenge to maximize discovery of savings opportunities meant accurately classifying data to the lowest levels possible levels. "Zycus' SDM software will aid BearingPoint's requirement of automatically processing multi-billion dollars of global spend data, in a short time frame, along with deployment of Web-based analytic tools to facilitate "savings discovery" for clients," said Sandip Maiti, Vice President, Marketing, Zycus Inc.
Zycus is a leading provider of Spend Data Management solutions. Zycus' software solutions combine cutting edge AI technology and domain expertise to discover, enrich and manage enterprise spend and master data for global spend visibility, better analysis and greater compliance. Zycus increases e-Procurement, Strategic Sourcing and Product Lifecycle Management (PLM) effectiveness, and complements existing enterprise applications to deliver increased ROI.
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