Zycus

Private
Industry Internet Software & Services
Founded 1998
Headquarters New Jersey, US
Number of locations
 NewJersey, Chicago, Atlanta, London, Melbourne, Netherlands, India
Area served
 World Wide
Key people
 Aatish Dedhia, CEO
Products Complete Source-to-Pay suite of procurement performance solutions
Number of employees
 650+
Website http://www.zycus.com

Zycus is a global procurement suite provider, which designs and develops software solutions in the procurement domain.[1]

History

Zycus was founded in 1998 by Mr. Aatish Dedhia.[2] 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.[2]

In 2002, Zycus introduced AutoClass,[3] which performs automatic classification using artificial intelligence[2] (AI) rather than rigid mapping algorithms to code and classify products for representation in business-to-business e-commerce catalogs. Zycus tied this auto-classification engine to the Universal Standard Products and Services Classification product coding system (known alternatively as the United Nations Standard Products and Services Code or UNSPSC).[3] In 2003, they expanded 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 endeavors.[4]

The firm continued to refine auto-classification and spend analysis technologies as well as artificial intelligence [5] and to build additional solutions for procurement such as electronic sourcing,[6][7] contract management,[8] supplier performance and information management,[9] financial savings management[10] and procure-to-pay (P2P).[11][12]

In 2012, the firm applied AI-powered auto-classification to the execution of procurement transactions,[13] classifying spend transactions as they occur[14] and guiding employees to choose preferred or standard items and services and to make lowest-cost spend decisions (guided buying).[13]

References

  1. ↑ "Zycus Inc.". Bloomberg BusinessWeek. Retrieved 29 April 2013.
  2. 1 2 3 Mascarenhas, Anil. "LeaderSpeak". India InfoOnline Ltc. Retrieved 29 April 2013.
  3. 1 2 Staff (1 May 2002). "Zycus Unveils AutoClass E-Commerce Content Classifier". Information Today, Inc.
  4. ↑ Staff (30 October 2003). "Zycus Tool Automates Data Analysis". Supply Management.
  5. ↑ Rae, David. "Technology Review - Zycus Actionable Analytics v4.0". Procurement Leaders, Sigaria Ltc. Retrieved 29 April 2013.
  6. ↑ Busch, Jason. "Comparing SAP and Ariba for Sourcing (Part 1)". Spend Matters/Azul Partners, Inc. Retrieved 22 May 2013.
  7. ↑ Busch, Jason. "20 Ways the Falling Euro May Impact Sourcing, Procurement and Supply Chain Strategies (Part 3)". Spend Matters, Azul Partners, Inc. Retrieved 29 April 2013.
  8. ↑ Busch, Jason. "Is it Time to Redefine How Procurement Looks at Contract Management Software?". Spend Matters, Azul Partners, Inc. Retrieved 29 April 2013.
  9. ↑ Busch, Jason. "Zycus Building Up the Solutions Arsenal Behind the Scenes (Part 5)". Retrieved 29 April 2013.
  10. ↑ Busch, Jason. "Live From Zycus' Analyst Day — Dispatch Two". Spend Matters, Azul Partners, Inc. Retrieved 29 April 2013.
  11. ↑ Busch, Jason. "Zycus Horizon: Expanding the Suite in Spend Analysis, Sourcing, and P2P (Part 1)". Spend Matters, Azul Partners, Inc. Retrieved 29 April 2013.
  12. ↑ Avery, Susan. "Procure-to-Pay Addresses Compliance Gap". My Purchasing Center. Retrieved 2 May 2013.
  13. 1 2 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.
  14. ↑ Mitchell, Pierre. ""Guided Buying": The Future of P2P". Spend Matters, Azul Partners, Inc. Retrieved 29 April 2013.
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