|By Business Wire||
|April 22, 2014 11:01 AM EDT||
Zycus, a leading source-to-pay and procurement performance suite provider has announced a major new feature release in its iSource electronic sourcing platform. The showpiece of the new Zycus release is an innovative Negotiate feature, which empowers procurement professionals to seamlessly incorporate outcomes from face-to-face and other offline negotiation rounds while still taking full advantage of powerful bid comparison, evaluation and business-award functions after negotiation rounds have been completed.
Easy import-export between iSource and desktop spreadsheet applications empowers buyers and suppliers to revise bid information offline as negotiated at lot and line item levels while still fully documenting bid and revision histories within the iSource system of record. Suppliers participating in one-to-one negotiations must always approve or reject revised bids within iSource before another negotiation round or final analysis and award can commence.
“Every new feature we develop for a Zycus solution is a feature that real, on-the-ground procurement professionals ask us to create,” says Zycus founder and CEO Aatish Dedhia. “And, since few savvy procurement pros are content to conduct important, strategic competitive bids without some form of direct interaction with suppliers, we have incorporated this interaction into our e-Sourcing workflow. Now our iSource customers get the best of both worlds. On the one hand, they get efficiency; sourcing cycle-time acceleration; more competitive events (because they can include more suppliers); big computing power for multidimensional bid evaluation, analysis, comparison and award, and complete, centralized documentation of all competitive bidding events. On the other hand, they still get to practice the fine art of human negotiation, which is the procurement pro’s core proficiency.”
Other enhancements in the new iSource release include:
- Integration enabling new sourcing events to be launched from within Zycus’ e-Procurement platform for non-catalog requisitions and then returned to e-Procurement seamlessly once business awards have been made.
- New admin features providing greater control over how various users interact with iSource.
Zycus is committed to positioning procurement at the heart of business performance. With our spirit of innovation and a passion to help procurement create even greater business impact, we have evolved our portfolio to a complete Source-to-Pay suite of procurement performance solutions - Spend Analysis, eSourcing, Contract Management, Supplier Management, eProcurement, eInvoicing and Financial Savings Management. We are proud to have more than 200 solution deployments among Global 1000 clients across verticals like Manufacturing, Automotives, Banking and Finance, Oil and Gas, Food Processing, Electronics, Telecommunications, Chemicals, Health and Pharma, Education and more.
To learn more about Zycus or the new e-Sourcing release, e-mail [email protected].