Zycus Contract Management Solution Accelerates ROI by Connecting Contracts to Spend Data
Visibility and proactive contract management enables customers to leverage real-time market conditions to accelerate business value.
Princeton, NJ, May 23, 2009 --(PR.com)-- Zycus Inc., the leading global provider of Spend Management solutions, recently announced the availability of Zycus’ iContract, a contract management solution designed for sourcing and procurement professionals. Zycus’ iContract provides organizations the ability to actualize negotiated contract savings through real-time monitoring, proactive alerting, and robust search capabilities that provide intelligent tracking of contract compliance and utilization across the contract lifecycle.
This latest solution complements the current spend management offering by Zycus (www.zycus.com) by continuing to provide easy-to-use solutions that streamline processes, accelerate savings, and provide accurate spend visibility with a maximum return on investment.
“Zycus continues to be at the forefront of providing innovative solutions that accelerate an organization’s return on investment,” says Aatish Dedhia, CEO of Zycus. “Within the present economic climate, efficient contract management is especially imperative. Zycus’ iContract enables customers to achieve higher spend management performance.”
“As the global recession continues to challenge top-line revenue growth, procurement leaders are being called upon to defend their enterprise’s bottom line,” says Andrew Bartolini, Vice President of Global Supply Management Research at Aberdeen Group. “Aberdeen research has shown that enterprises save, on average, 22 percent of every dollar of spend that is contract compliant. Nevertheless, as many organizations are facing immense pressures to reduce costs and maximize savings, they are especially challenged to effectively manage contract compliance and utilization. This is because they lack a centralized searchable data repository and standardized, user-defined repeatable processes that hinder their ability to achieve these objectives."
"Connecting the dots between the cost and availability of products and services on the income statement with potential balance-sheet liabilities facilitates contract visibility and collaboration across the enterprise and its ecosystem," says Mickey North Rizza in the May 2008 AMR Research report, Preserve, Protect, and Defend with Contract Lifecycle Management. “iContract is a best-in-class solution that enables contract visibility and collaboration through robust capabilities such as real-time audit and compliance, contract utilization, state-of-the-art security and line item-based search.”
Zycus iContract provides a centralized repository that houses historical and new contracts with unlimited metadata tagging for optimal search performance and collaboration. According to Debbie Wilson, Research Director, Gartner, “The idea of applying the fuzzy matching capabilities of spending analysis to analyze transaction data for the purpose of robust contract compliance analytics is intriguing and promising.”
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. 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 100 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.
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This latest solution complements the current spend management offering by Zycus (www.zycus.com) by continuing to provide easy-to-use solutions that streamline processes, accelerate savings, and provide accurate spend visibility with a maximum return on investment.
“Zycus continues to be at the forefront of providing innovative solutions that accelerate an organization’s return on investment,” says Aatish Dedhia, CEO of Zycus. “Within the present economic climate, efficient contract management is especially imperative. Zycus’ iContract enables customers to achieve higher spend management performance.”
“As the global recession continues to challenge top-line revenue growth, procurement leaders are being called upon to defend their enterprise’s bottom line,” says Andrew Bartolini, Vice President of Global Supply Management Research at Aberdeen Group. “Aberdeen research has shown that enterprises save, on average, 22 percent of every dollar of spend that is contract compliant. Nevertheless, as many organizations are facing immense pressures to reduce costs and maximize savings, they are especially challenged to effectively manage contract compliance and utilization. This is because they lack a centralized searchable data repository and standardized, user-defined repeatable processes that hinder their ability to achieve these objectives."
"Connecting the dots between the cost and availability of products and services on the income statement with potential balance-sheet liabilities facilitates contract visibility and collaboration across the enterprise and its ecosystem," says Mickey North Rizza in the May 2008 AMR Research report, Preserve, Protect, and Defend with Contract Lifecycle Management. “iContract is a best-in-class solution that enables contract visibility and collaboration through robust capabilities such as real-time audit and compliance, contract utilization, state-of-the-art security and line item-based search.”
Zycus iContract provides a centralized repository that houses historical and new contracts with unlimited metadata tagging for optimal search performance and collaboration. According to Debbie Wilson, Research Director, Gartner, “The idea of applying the fuzzy matching capabilities of spending analysis to analyze transaction data for the purpose of robust contract compliance analytics is intriguing and promising.”
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. 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 100 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.
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Contact
Zycus Inc.
Hiren Parikh
(609)-799-5664
www.zycus.com
Hiren Parikh
(609)-799-5664
www.zycus.com
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