Zycus

Private
Industry Internet Software & Services
Founded 1998
Headquarters New Jersey, US
Area served
 World Wide
Key people
 Aatish Dedhia
Products Procurement Performance Management Suite
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]

Zycus's competitors include Wax Digital, PROACTIS, SAP, Bravosolution, MultiQuote, Oracle, Procurify, GEP, Rosslyn Analytics, Ivalua, Tradeshift, Coupa, and Emptoris.

Awards & Recognition

2015: Placed again in the Gartner ‘Leaders Quadrant’ in the Magic Quadrant for Strategic Sourcing Application Suites *[15]

2013: Placed in the ‘Leaders Quadrant’ in the Gartner Magic Quadrant for Strategic Sourcing Application Suites.[16]

2010: Named among the 10 for 2010: Solution Providers to Watch in 2010 by CPO Rising.[17]

2008: Red Herring 100 Asia.[18]

2007: Named by Sigaria, the governor of the European Leaders Network, as specialist and underwriter for the company’s Spend Management Knowledge Group.[19]

References

  1. ↑ "Zycus Inc.". Bloomberg BusinessWeek. Retrieved 29 April 2013.
  2. ↑ 2.0 2.1 2.2 Mascarenhas, Anil. "LeaderSpeak". India InfoOnline Ltc. Retrieved 29 April 2013.
  3. ↑ 3.0 3.1 Staff (May 1, 2002). "Zycus Unveils AutoClass E-Commerce Content Classifier". Information Today, Inc.
  4. ↑ Staff (October 30, 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. ↑ 13.0 13.1 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.
  15. ↑ Deborah, Wilson. "Gartner, Magic Quadrant for Strategic Sourcing Application Suites". Gartner, Inc. Retrieved 4 February 2015. *Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
  16. ↑ Deborah, Wilson. "Gartner Magic Quadrant for Strategic Sourcing Application Suites". Gartner, Inc. Retrieved 1 July 2013.
  17. ↑ Bartolini, Andrew. "10 for 2010: Solution Providers to Watch in 2010". CPO Rising, Ardent Partners, Ltc. Retrieved 29 April 2013.
  18. ↑ Staff. "Red Herring 100 Asia". Red Herring, Inc. Retrieved 29 April 2013.
  19. ↑ Staff. "European Leaders Network Announce Zycus as New Spend Management Group Specialist". Procurement Leaders, Sigaria Ltc.