Following successful adoption of their Spend Data Management (SDM) software at leading organizations such as General Electric (NYSE:GE) and UNILEVER (NYSE:UL) and delivery of unprecedented depth of insight into enterprise spending and compliance patterns, Zycus releases a new and expanded suite of solutions that are integration ready with existing ERP and eProcurement systems (such as SAP, ARIBA), and leverage open commodity coding standards (such as UNSPSC).
New Jersey,(PRWEB) Oct 1, 2003: Zycus Inc, Spend Data Management software and solutions provider, that helps global enterprises discover trapped savings and build an effective spend compliance framework, today announces the launch of an expanded suite of software products. The availability of automated SDM tools and collaboration framework embedded within the new version 2.0 is poised to lower the total cost of ownership of enterprise Spend Data initiatives, and deliver rapid time to value.
Zycus SDM v2.0 suite comprises of 3 solutions that can be deployed as independent modules or as one enterprise suite to cater to end-to-end requirements of managing enterprise spend data.
- Detailed Spend Visibility: Zycus DSV solution is the industry’s first 100% automated end-to-end Spend Analysis solution that focuses on providing in-depth visibility and rich insight to Enterprise spend patterns. The proven ability to dive deep into UNSPSC 8 digit codes, while processing high volumes of transactions every month, distinguishes the Zycus solution from the competition. The new DSV solution leverages enhanced features on a proven AI classification engine, and focuses on rapid delivery of an enterprise spend cube enabling spend analytics on-demand.
- Master Data Rationalization: Zycus MDR solution is unique in addressing ERP master data problems that arise out of M&As, ERP consolidation or PLM integration initiatives. The solution provides a software tool-set combined with phenomenal domain expertise, that will enable large enterprises to resolve a critical spend data crisis, by discovering products and parts data “on-time” and help minimize inventory build-up and proliferation of new parts. Zycus MDR solution combines the ability for a one-time clean-up of master data for duplicate parts identification (inventory reduction), extensive reporting and analysis along with real-time integration within ERP/PLM systems, to enhance search and discovery f products and parts.
- Real-time Spend Compliance: Zycus RTSC solution offers spend classification tools “integration ready” with ERP and eProcurement systems (such as SAP, ARIBA), to provide UNSPSC classification “at-source”. This feature is available as a seamless integration within existing system UI, and designed to drive increased adoption of e-procurement and greater compliance with preferred suppliers and contract terms. The ability to use Zycus RTSC tools from within an existing application software, will empower dispersed users within the entire enterprise, to comply with a disciplined purchasing process and provide instant visibility and analysis to procurement trends.
Zycus promotes use of open classification and coding standards like UNSPSC. SDM (v2.0) based on UNSPSC will enable enterprises to bring together multiple data pools that remain isolated in various systems, such as Accounts Payable (AP)/General Ledger (GL), Enterprise Resource Planning (ERP), Contract Management, RFX and Procurement systems, the lack of which leads to much data remaining invisible and consequently unusable. UNSPSC (United Nations Standard Products and Services Code), a worldwide classification system developed in 1998 by the United Nations and Dun &Bradstreet, and now managed by UCC, is an open, global electronic commerce standard that provides a logical framework for classifying goods and services. The hierarchical structure of UNSPSC allows drilling down and rolling up, which is integral for tactical and strategic spend analysis. It is a global standard and freely available to the publicIt is a global standard and freely available to the public with no copyright protection issues – which has led to its widespread adoption all around the world.
Speaking at the launch of Zycus SDM 2.0 Aatish Dedhia, CEO commented: “We are truly encouraged by the results that are coming out of the usage of our tools and solutions at organizations such as GE and UNILEVER. It takes world-leaders to drive the vision of adopting a single commodity coding standard within the enterprise, and usage of automated tools to help realize that vision. We are glad that Zycus is able to contribute in such phenomenal efforts at adopting standards such as UNSPSC, that will ultimately transform the procurement and supply management processes at global organizations, and help drive additional revenue to their bottom-line."
“It is not that the “spend data crisis” was not known, but more an issue of, ‘availability of the right software tools,’ at most enterprises. With the release of SDM suite (v2.0) we are confident that Zycus will help accelerate deployment of Spend Data Management initiatives at leading organizations around the world, re-igniting the spend analysis and spend compliance marketplace , " observed Sandip maiti, DIrector Marketing, Zycus Inc.
Zycus is the leading provider of Spend Data Management solutions. Zycus' UNSPSC based automated solutions combine cutting edge, patent pending artificial intelligence technology and domain expertise to discover, enrich and manage enterprise spend data for better visibility 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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