Spend analysis or spend analytics is the process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring controls and compliance. The platform is designed to help businesses know how to spend better by enabling a detailed, accurate and timely visibility into organizationwide spend. Automated spend analysis solutions market report by. Zycus spend data management design and development of computer software for data management solutions, namely, software for aggregation, cleansing, classification, enrichment and processing of data for further enhanced utility of such data today, spend data analysis is no longer a nice to have but a vital need of the enterprise. Meanwhile, for user satisfaction, zycus scored 100%, while conga contracts scored 100%.
Procurement measurement 10 suggested metrics from zycus. That is what zycus, the selfproclaimed spend management experts, claims in their latest whitepaper the supply risk explosion building a business. Compare zycus vs conga contracts 2020 financesonline. This is a classic battle between the stalwart and the upstart. Spend analysis software market status most fragile. With our spirit of innovation and a passion to help procurement create even greater business advantages, we have evolved our portfolio to a full suite of procurement solutions spend analysis, esourcing, contract management, supplier management, financial savings management and procure to pay. With more than 200 global proven implementations, zycus solutions have emerged as the global favorite.
Research reports our procurement research hub provides procurement professionals with free, indepth procurement research by zycus and some of the best procurement minds from across the globe. For example, you mentioned zycus which is hardcoded to support supplier management spend analysis. Procurement, and at the same time management and business stakeholders, should. Our comprehensive product portfolio includes applications for both the strategic and the operational aspects of procurement eprocurement, einvoicing, spend analysis, esourcing, contract management, supplier management, financial. Zycus spend analysis solution facilitates sourcing performance, reduces maverick spend, increases compliance and generates savings. Zycus comprehensive solution suite zycus sourcetopay suite isave iperform isupplier icontract repository icontract authoring isource auto class icost ianalyze financial. Definition spend analysis is the process of collecting, cleansing, classifying and.
The 7 keys to better sourcing and supplier relationships. The next approach is manual analysis of purchase orders. Pivotal players studied in the automated spend analysis solutions report. Details about their characteristics, tools, supported platforms, customer support, plus more are given below to give you a more correct analysis. Master thesis lund university publications lunds universitet. About zycus zycus is a leading global provider of complete sourcetopay suite of procurement performance solutions. Ive accepted the webex meeting, as i was curious to hear their sales pitch and to eyetouch their web2 solution. P2p suites are sets of integrated solutions with processes that may be called transactional or operational procurement. Risk metrics and market data related to the supplier bases can be incorporated to provide additional levels of insight. To start with, the solution helps users to classify spend correctly. They have automated workflows to request, procure, receive and pay for goods and services across an enterprise. Love your sourcing strategy by letting it go zycus. Contract management 2008 esourcing 2007 zycus moves 100% to saas spend analysis 2005 master data management 2005.
Spend analysis esourcing contract management supplier management savings management project management request management procuretopay zycus focus. A couple of days before the dday, i received an email explaining how to. Sources of expenditure range across the procurement of goods and services. Big data analytics is the ability to analyze large amount of data sets using advanced computing systems and. As vice president for corporate development at zycus inc. Detailed perspective towards automated spend analysis solutions industry trends and drivers offer a clear overview how the automated spend analysis solutions industry increasing during the slated period from 2020 to 2026. Reasons for buying global automated spend analysis solutions market report. Procurements transformation imperative curtisswright paul stasko senior director, supply chain zycus inc. Downstream solutions zycus downstream procurement software solutions are the site of the day to day activities, the drops adding to your value bucket on a continuous basis. Spend analysis can be a significant investment time, skills, technology, human and financial resources scale investment based upon the return be sure of your business objectives and outcomes before initiating spend analysis is an enabler not. Read more spend analysis mistakes that can mar your sourcing strategy. It looks like youre missing alternative text for 3 images on.
Zycus pioneered the original spend classification and spend analytics sector two decades ago, and spendhq more recently grew out of insight sourcing group, a consultancy. This analysis features many of the largest eprocurement providers, including buyerquest, claritum, coupa, determine, gep, ibx, ivalua, nimbi, pool4tool, sap ariba, vroozi and zycus. Cloud spend analytics market size, share, demand by. However, this data in raw form is of no use to organizations.
Zach bolt, director of solutions consulting at zycus, has worked in. Automated spend analysis solutions market study an. Zycus comprehensive solution suite zycus sourcetopay suite isave iperform isupplier icontract repository icontract authoring isource imanage auto class imine ianalyze financial savings management procuretopay supplier management contract spend analysis one esourcing view. Ariba, oracle, ivalua and zycus are located at the far right, indicating that. At zycus, he heads up global solutions consulting in support of the sales team based in. Spend management is a process of collecting, collating, maintaining, categorizing, and evaluating spend data to reduce procurement costs, improve efficiency, monitor and control workflows, and regulate compliance. But today, spendhq is the first or second largest standalone spend analytics. Zycus spend analysis software facilitates sourcing performance, increases compliance and generates savings. Zach bolt, director of solutions consulting at zycus, has worked in software sales, implementation, and support for his entire career. The evolution of spend analysis and the rise of big data spend analysis has always had the attention of an organizations top management since it has such a. The flight plan for smooth sourcetopay transformation. P2p suites are marketed as suitable solutions for processing, at a basic level, all the various types of spend. After extraction, the data is cleansed, classified, and transformed into a uniform format. Since spend data may not always be accurate due to its manual processing.
Below you can also verify their functionalities, terms, plans, etc. He has worked in procurement as well as asset management and erp, inventory management, and demand planning. Zycus teams with equifax to help businesses strengthen. For more than a decade we have been the worlds most trusted leader in spend analysis. The cloud spend analytics markets boom and developments are studied and an in. Spend matters tracks over 50 procuretopay solution providers. The report on the global automated spend analysis solutions market is a worthwhile source of information for every policymaker, investor, stakeholder, service provider, manufacturer, supplier, and player interested in purchasing this research document. It can also be leveraged in other areas of business such as inventory management, contract management, complex sourcing, supplier management, budgeting, planning. Our comprehensive product portfolio includes applications for both the strategic and the operational aspects of procurement eprocurement, einvoicing, spend analysis, esourcing, contract management, supplier management and financial savings management. But simply collating spend data from the various sources in the. Modules in upstream solutions include spend analysis, esourcing, project management, contract management, supplier management, and financial savings management.
But simply collating spend data from the various sources in. At zycus we are 100% dedicated to positioning procurement at the heart of business performance. We featured yesterday the paper available for download from spend management company zycus, written by richard waugh, vp of corporate development, called analyze this top 10 metrics to strengthen organizational procurement practices he draws heavily on benchmarks from the hackett group, aberdeen research and caps the centre of advanced purchasing studies in arizona. The robust zycus spend analysis solution, comprising of autoclass, ianalyze, imine and icost modules, assures you this will not happen. Zycus has more than 400 employees across north america, europe and asiapacific. Starting with business spend, we automate manual process, uncover. Zycus spend management solutions automate and streamline the processes of spend analysis, strategic sourcing and contract management. On the other hand, for user satisfaction, zycus earned 100%, while spend 365 earned 93%. Cloud spend analytics market each qualitative and quantitative records analysis to provide an overview of the destiny adjacency around cloud spend analytics market for the forecast duration, 20202025. From simple quote request to full projects with approvals, ariba sourcing offers a rich solution with templates and collaboration to achieve your savings goals. A couple of weeks ago, ive been proposed a brief from zycus a global company founded in india in 1998 with offices in us and europe about their new solution release. Check the images on your website to make sure accurate and relevant alternative text is specified for each image on the page.
Zycus spend analysis solution offers the most comprehensive, detailed. This differs from cdi pim sim solutions that are hardcoded to one subject area. Principal and global procurement advisory practice leader. Spend analysis is the process of identifying, gathering, cleansing, grouping, categorizing and analyzing your organizations spend data with a goal of decreasing procurement costs and improving efficiencies. Get fast, accurate and granular visibility into your global spend, track commodity prices and unlock potential savings opportunities with zycus comprehensive spend analysis solution which consists of three modules. With our spirit of innovation and a passion to help procurement create even greater business advantages, we have evolved our portfolio to a full suite of procurement performance solutions spend analysis. Zycus continued to refine autoclassification 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 procuretopay. Cips northumbria branch 21 october 2010 duncan olive. Using realtime data and analytics will give you the insight you need you to save money and gain efficiency. Cloud spend analytics market to eyewitness massive growth. Try to keep your alternative text to a simple, onesentence description of whats in the image. For all round quality and performance, zycus scored 8.
Spend analysis is a spend management software solution. The global cloud spend analytics market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period 20202025. The evolution of spend analysis and the rise of big data. Spend management affects and manages various activities across the procurement cycle. As zycuss pulse of procurement 2019 report points out, data. By replacing your manual processes with zycuss autoclass engine.
A complimentary download from the zycus procurement knowledge hub. Leveraging zycus spend analysis solution to develop spend analytics capability at smrt to set up a wellde. Spend management software g in rc u so te ui s supplier management supplier portal, supplier performance, supplier information management 2010. Zycus is a leading global provider of complete sourcetopay suite of procurement performance solutions. Comprehensive product portfolio includes applications for both the strategic and the operational aspects of procurement eprocurement, einvoicing, spend analysis, esourcing, contract management, supplier. Spend analysis should include the identification, automated collection, cleansing, grouping, categorization, and analysis of all spend data for the goods and services purchased for the organization.