Procure to Pay Software
Seamlessly intuitive yet powerful procure to pay software solutions to meet your complex needs
Unleash Efficiency, Savings, and Strategic Insights:
Elevate Your Procure to Pay Experience
89 end-user companies gave Zycus an overall 4.4 out of 5 in the Procure-To-Pay Suites category on Gartner Peer Insights as of Oct 2023.
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Zycus Procure to Pay Solutions
eProcurement
- Reduce manual data entry and errors with automated workflows
- Improve supplier collaboration and communication with a unified portal
e-Invoicing
- Reduce costs and improve accuracy with automated invoice processing
- Increase compliance with eInvoicing standards
Zycus Supplier Network (ZSN)
- Automate supplier onboarding with autonomous onboarding
- Track and manage all supplier data and POs in a single repository
Inventory Management
- Improve inventory visibility and forecasting with real-time data
- Optimize inventory levels to meet the ever-changing demand
Procure to Pay Software Features that Set Zycus Apart
- AI-Powered Matchmaking: Instantly connects requisitions with the best suppliers, using AI to analyze past performance and compliance.
- Speed and Precision: Dramatically reduces sourcing cycle times while enhancing the accuracy of supplier selection.
- Error Reduction: Minimizes manual data entry errors by accurately capturing invoice data through AI-driven extraction.
- Enhanced Process Efficiency: Accelerates invoice processing speed, enabling quicker turnaround times and improved cash flow management.
- Predictive Insights: Offers forward-looking cost allocation insights, helping to budget and plan procurement spend more accurately.
- Strategic Financial Planning: Enhances decision-making with AI-generated forecasts, optimizing spend and improving financial performance.
- Consolidated Invoice Management: Centralizes invoice processing tasks in a single, intelligent dashboard for better oversight and management.
- Automated Workflow Optimization: Leverages AI to prioritize invoices based on payment terms, discounts, and supplier importance, ensuring strategic payment executions.
FAQ's
Yes, Zycus’ P2P tool provides ‘Contract Lock’ that allows viewing the actual contract at the time of requisition and offers holistic visibility into contract terms while ordering.
Zycus’ ‘Guided Buying’ feature steers the user to approved, contracted and preferred suppliers and catalogs. The tool also shows other available supplier options to the user and off-contract purchases are then used as indications for the procurement team to create new contracts or renegotiate the existing ones.
Zycus’ procure-to-pay software ensures:
- Improved Spend under Management: Ensure internal stakeholders buy through preferred, contracted suppliers.
- Reduced Maverick Spending: The ‘Guided Buying’ feature steers users to approved, contracted, and preferred suppliers and catalogs. It auto-suggests categories from free text searches and shows supplier options to the user. Off-contract purchases are then used as indications for the procurement team to create new contracts or renegotiate existing ones.
- Contract Utilization: To ensure that the savings value created in the source-to-contract cycle is being realized in the form of hard dollars, ‘Contract Lock’ allows viewing the actual contract at the time of requisition and offers holistic visibility into contract terms while ordering. Visibility into the contracts at the time of requisitioning provides for efficient utilization of the contracts.
- Increased Compliance: Compliance entails policies that drive users to the company’s channel of choice (use the tool or adoption) and those that ensure that the negotiated savings show up in the bottom line. For channel compliance, spend visibility, including assignment to the department or budget center where the spending resides, is critical. After adopting a P2P solution, best-in-class companies show 85% of orders compliant with contracts and 75% of spending compliant with contracts.
- Process Efficiency: Zero coding workflows, real-time spend visibility, flexible chart of accounts, guided buying, dynamic discounting, automated invoice extraction and 3- way matching of invoices allows for an increase in process efficiencies in addition to the hard dollar savings that are generated.
Zycus’ P2P software provides ‘Guided Buying’ that auto-suggests categories from free text searches, prompts users to fill guided e-forms with relevant specifications in case of first-time products and services, and maps/creates corresponding GL accounts. The P2P tool, through ‘Contract Lock,’ allows viewing the actual contract at the time of requisition and offers holistic visibility into contract terms while ordering.