PRINCETON, N.J.--(BUSINESS WIRE)--Zycus, a leading provider of Source-to-Pay procurement technology solutions, announced today that it had registered a 2x growth in deals featuring Procure-to-Pay in the year 2017 compared to 2016. The growth in P2P deals comes across revenue segments, geographies, and business verticals including Manufacturing, BFSI, Utilities, Oil & Gas, Hospitality, Pharmaceutical, Healthcare facility & services, Biotechnology, IT & Telecom, Airlines, Federal, Not for Profits, etc.
Zycus also recently increased its solution footprint across the Procure-to-Pay processes with the addition of Inventory Management, Dynamic Discounting, and Global Invoicing capabilities. These new additions strengthen the comprehensiveness of Zycus’ organically built solution suite and allow greater procurement control across complementary processes.
Zycus’ Inventory Management, with its robust capabilities, will empower procurement teams to ensure the optimal utilization of stocked inventory and also provide granular/real-time visibility into stocked item level at the point of the requisition. “By facilitating better stock utilization, procurement can eliminate redundant orders, and improve overall procurement efficiency,” says Bikash Mohanty, Director Product Management at Zycus. The addition of Global Invoicing & Dynamic Discounting capability strengthens the existing eInvoicing offering from Zycus. Global eInvoicing goes beyond invoice matching to meet global invoice compliance requirements, offering country-specific content, archiving and compliance capabilities. Given the global nature of businesses today, Zycus Global Invoicing will help keep track of international regulatory compliances for procurement teams who work with suppliers across the globe.
The all-new Dynamic Discounting capability comes with smart suggestions on discount programs to maximize savings opportunities. With pre-canned discount programs, AP teams can not only save time and resources but also attain enhanced visibility to capture & realize all available early-payment discount opportunities.
“The new additions, is a testimony to Zycus’ commitment to building a comprehensive & integrated Procure-to-Pay suite with strong eProcurement and eInvoicing capability which is easy-to-use taking into account the business needs of our customers,” says Aatish Dedhia, CEO at Zycus. “We continue to grow and add new functionality to our Procure-to-Pay suite, and Flexible Workforce Management – a one-stop solution to manage contingent workforce & freelancers, is going to be the next big addition to the repertoire. A sneak peek into the capability was showcased at our recent annual conference, Horizon 2017.”
