Zycus
| Zycus - Procurement Solutions | |
| Private | |
| ISIN | 🆔 |
| Industry | Internet Software & Services |
| Founded 📆 | 1998 |
| Founder 👔 | Aatish Dedhia[1] |
| Headquarters 🏙️ | Princeton, , |
Area served 🗺️ | |
Key people | Aatish Dedhia, CEO |
| Products 📟 | Procurement automation solutions[clarification needed] |
| Members | |
Number of employees | 1100+ |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Zycus[2] is a global provider of complete Source-to-Pay suite of procurement performance solutions.[buzzword] It designs and develops software in the procurement domain.[3] Zycus is headquartered at Princeton, New Jersey, and has 11 global offices across the US, Europe, Middle East, Asia, and Australia.[4]
History[edit]
Zycus was founded in 1998 by Mr. Aatish Dedhia. Dedhia had worked previously at Intel Corporation in the U.S. where he was part of the core design team on the Pentium-II processor and introduced Internet and Intranet technologies within the Pentium-II group for improving group work and knowledge management.[5]
In 2002, Zycus introduced AutoClass,[6][7] which performs automatic classification using artificial intelligence[8] (AI) rather than rigid mapping algorithms to code and classify products for representation in business-to-business e-commerce catalogs, tied to the Universal Standard Products and Services Classification product coding system.[6][9][10] General Electric was one of the early adopters of the product in 2002.
In 2003, Zycus introduced the application of this technology to corporate spend analysis, mining corporate transaction records to generate information for use in support of strategic sourcing, supply-base reduction, supplier negotiations, and corporate spend-reduction endeavours.
Zycus continued to refine auto-classification and spend analysis technologies as well as artificial intelligence and to build additional solutions[buzzword] for procurement such as electronic sourcing, contract management, supplier performance, and information management, financial savings management and procure-to-pay.[11]
Product Suite[edit]
Zycus source-to-pay suite is a SaaS based solution.[buzzword] Their ePurchasing suite comprises spend analytics, adding sourcing and CLM, supplier risk and performance management (SRPM), eProcurement, and eInvoicing. In 2018, Zycus launched a new AI based solution[buzzword] named Zycus Merlin A.I. Studio which provides bots for custom features across their source-to-pay suite.
Zycus eSourcing includes a core RFX engine and reverse auction capability as well as “three bids and a buy” capability that it calls Quick Source. It currently supports interactions in English, Dutch and Japanese for its forward and reverse auctions models. It provides significant insights across a broad range of functional areas within procurement.[12]
In the Q1 evaluation of 2019, Forrester recognized Zycus as a leader in "The Forrester Wave™: Contract Lifecycle Management For Source-To-Contract Suites" and in the Q2 evaluation of 2017, as a leader in "The Forrester Wave™: eProcurement." Forrester also listed Zycus as one of the three vendors in 2007 to have collectively garnered a market share of 64% for its spend analytics.[13]
Awards and recognition[edit]
- 2019: Won the ‘Supplier Partnership Award’
- 2017: Named a Leader in The Forrester Wave™: eProcurement, Q2 2017
- 2015: Placed in the Gartner ‘Leaders Quadrant’ in the Magic Quadrant for Strategic Sourcing Application Suites.
- 2013: Placed in the ‘Leaders Quadrant’ in the Gartner Magic Quadrant for Strategic Sourcing Application Suites.[14]
- 2011: Received the “Corporate Excellence in Procurement Solutions” award at NATCOM 2011
- 2010: Named among the 10 for 2010: Solution Providers to Watch in 2010 by CPO Rising.[15]
- 2008: Red Herring 100 Asia.
References[edit]
- ↑ https://www.bizjournals.com/sanjose/stories/2001/12/24/smallb2.html
- ↑ "Zycus partners with Salesforce to accelerate digital transformation". Retrieved 20 June 2018.
- ↑ "Zycus Strengthens Its Integration With Multiple Software Applications Using iConsole". Yahoo!. 22 February 2016.
- ↑ "Zycus Inc. ranked among 50 best places to work in India". Financial Express. 26 June 2008.
- ↑ "Now a website that promises to help Indians stitch together their family tree". Mid Day. 21 July 2013.
- ↑ 6.0 6.1 Staff (1 May 2002). "Zycus Unveils AutoClass E-Commerce Content Classifier". Information Today, Inc.
- ↑ Busch, Jason. "P2P and eProcurement: Don't Assume Folks Will Find What They're Looking For (Part 3)". Spend Matters, Azul Partners, Inc. Retrieved 29 April 2013.
- ↑ Mascarenhas, Anil. "LeaderSpeak". India InfoOnline Ltc. Retrieved 29 April 2013.
- ↑ Staff (30 October 2003). "Zycus Tool Automates Data Analysis". Supply Management.
- ↑ Rae, David. "Technology Review - Zycus Actionable Analytics v4.0". Procurement Leaders, Sigaria Ltc. Retrieved 29 April 2013.
- ↑ "The Bigger Issue Behind FTC v. Wyndham". Pymnts. 2 September 2015.
- ↑ "Zycus Horizon 2017 Dispatch: Exploring Zycus' Products and Modules Across Source-to-Pay". Retrieved 11 October 2017.
- ↑ "Zycus to Spread Its Wings: Launching in Sydney". Retrieved 24 April 2019.
- ↑ "Zycus Recognized as a Leader for the 4th Time in a Row in the Gartner's 2018 Magic Quadrant for Strategic Sourcing Application Suites". Yahoo!. 3 August 2018.
- ↑ "10 for 2010: Solution Providers to Watch in 2010". CPO Rising. 13 January 2010.
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