Zycus
Zycus
Blog Post
  • When it comes to technology centers or “tech-hubs”, many think that Silicon Valley is the place to be at. However, what they miss out on is Boston’s rich history in technology and its unique tech DNA. One of the oldest cities in the United States, Boston is home to some of the most cutting-edge technological movements and trends. There is a transformed energy present throughout Boston and the enti...

Zycus
Zycus
Blog Post
  • It’s safe to say that with the growth of Procurement Solutions in organizations, awareness of the primary challenges that manual procurement processes pose in organizations have increased. Lack of visibility, lengthy cycle-time, maverick spends, manual paper-based transactions, limited control and non-compliance are few of the difficulties that usually leads organizations to switch to Procure-to-P...

Zycus
Zycus
Blog Post
  • Contracts are nothing but fancy promises. One would expect parties involved in a contract to keep their respective promises, because of its formal and strict nature. But that’s hardly the case. Every single day in large global organizations, contract terms are not adhered to. Are promises meant to be broken? According to the Aberdeen Group, ineffective management of contracts costs businesses $153...

Zycus
Zycus
Blog Post
  • In today’s day and age of technological advancement, organizations all over the globe are looking to automate and streamline their Accounts Payable and Invoicing processes. Hence adopting an AP Automation Suite with e-Invoicing capabilities seems like a no-brainer with the numerous benefits organizations reap from the initiative, like lower invoice processing costs, optimized working capital, bett...

Zycus
Zycus
Blog Post
  • Given the global nature of businesses today coupled with increasing regulations to keep up with, it is paramount that procurement has firm control over its policies & processes to avoid any compliance leakages which could have negative ramifications for the organization. In Part 1 of this blog piece, I would like to cover the metrics that need to be on the watch list for procurement compliance. Pa...

Zycus
Zycus
Blog Post
  • It is a unanimous opinion that Automation initiatives have myriad advantages for an organization. The various benefits of invoice and Procure-To-Pay automation include reduction in invoice processing costs, higher savings captured, optimization of working capital, increased visibility and access to better analytics and reporting. A recent Ardent Partners Research Report titled “The State Of ePayab...

Zycus
Zycus
Blog Post
  • There is no procurement blog or no thought leader in procurement who is not talking about Artificial Intelligence (AI). AI has gained so much of traction that there is hardly any scope left for skepticism about its benefits. No matter how big the hype, a reality check is necessary to address the elephant in the room ‘How real is Artificial Intelligence in Procurement?’ Is the industry ready for AI...

Zycus
Zycus
Blog Post
  • International Labour Organization report to the World Bank finds systematic use of child labour in Uzbekistan’s cotton harvesting. The other day, an old lady at a high-end shopping brand’s billing counter asked a very unassuming yet thought-provoking question to the biller—“Young man, tell me where have you sourced the cotton for this beautiful dress that I plan to wear on my wedding anniversary...

Zycus
Zycus
Blog Post
  • ASEAN Free Trade Agreement (AFTA) protecting local business interests ASEAN Free Trade Agreement (AFTA) is an intergovernmental agreement signed by ASEAN (Association of Southeast Asian Nations: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam) on 28 January 1992 in Singapore. AFTA through the Common Effective Preferential Tariff scheme inte...

Zycus
Zycus
Blog Post
  • We are still reeling from the shock of Thanos destroying half of humanity with the snap of his fingers and we bet you are too. That got us wondering why it was so unsettling for most of us. Maybe it was because we underestimated Thanos’ abilities? Or maybe it was because we overestimated the Avengers’ abilities? We reckon it was a little bit of both – and since we are … The post Infinity War For P...

Zycus
Zycus
YouTube Video
  • P2P is all about getting people to change behavior – comply with policies and procedure, uses system-based purchasing tools. A successful program is about good training and change management and influencing people at the grass roots. A “bottom up” approach is naturally the right one to take or is it? So, what is the optimum approach for successful P2P implementation? Watch this webinar with us t...

Zycus
Zycus
SlideShare Presentation
  • Love Your Sourcing Strategy by Letting it Go Access this presentation where our expert speakers will guide you on how you can responsibly put sourcing into the hands of distributed buyers and empower them to select their suppliers and scale procurement’s impact. Learn to: 1. To identify the most common fears procurement experiences in the wake of decentralized buying 2. To understand the root...

Zycus
Zycus
SlideShare Presentation
  • E-Invoicing and AP automation come equipped with innumerable benefits and help save you money & increase efficiency.. But before taking the important step towards going paperless, there are countless factors to consider around areas likes top management’s approval, the best-fit solution provider, supplier adoption, the likely ROIs, training etc. To successfully answer all these questions and ens...

Zycus
Zycus
Blog Post
  • You may be aware of payment term in supply chain management which is a mutually agreed upon invoice clearance period for a buyer to pay its seller. This is usually a 45-60 day time-frame. Now this term can also be affected by several anomalies that can lead to an extension in clearing the invoices known as payment term extension. For example, in the pharmaceutical industry, the buyer … The post T...

Zycus
Zycus
YouTube Video
  • The AP process demands timely and precise data to drive an accurate fiscal close. Approvals must be linked to corporate approval policies to reduce risk and ensure that good controls and compliance requirements are in place. A robust workflow approval solution with automation can help to achieve the control requirements of SOX 404, reduce the risk of paying a fraudulent transaction and potentiall...

Zycus
Zycus
YouTube Video
  • But there are other, more sophisticated ways CFOs can take advantage of procure-to-pay software to realize additional benefits, including improving cash flow, building up working capital, extending and managing credit, and performing analytics on spending." - Linda Rosencrance. Reading the above excerpt from a recent article in Tech Target titled “Procure-to-pay software becoming a sophisticated ...

Zycus
Zycus
YouTube Video
  • The AP process demands timely and precise data to drive an accurate fiscal close. Approvals must be linked to corporate approval policies to reduce risk and ensure that good controls and compliance requirements are in place. A robust workflow approval solution with automation can help to achieve the control requirements of SOX 404, reduce the risk of paying a fraudulent transaction and potentiall...

Zycus
Zycus
YouTube Video
  • But there are other, more sophisticated ways CFOs can take advantage of procure-to-pay software to realize additional benefits, including improving cash flow, building up working capital, extending and managing credit, and performing analytics on spending." - Linda Rosencrance. Reading the above excerpt from a recent article in Tech Target titled “Procure-to-pay software becoming a sophisticated ...

Zycus
Zycus
YouTube Video
  • There is a saying that goes "when everything is said and done, there is more said than done." Nowhere is this statement truer than it is when discussing the subject of procurement, risk management, and compliance. Despite the attention this subject has received, beyond a comparatively small percentage, few companies have implemented the necessary initiatives to address risk within the organizatio...

Zycus
Zycus
Blog Post
  • When the question “What does Automation mean?” is posed to AP and Finance professionals, most responses are on the lines of “It relives us from the burden of inefficient, routine manual tasks like document sorting/filing,  validation checks like PO/invoice/receipt matching, manual PO and Invoice data entry, approval routing of payment and manual ERP entry of transactions”. More often than not, a b...

Zycus
Zycus
Blog Post
  • Previously –  Chapter 1: Ivan joined his new job as a CPO, with a host of challenges which needs to be overcome. Chapter 2: Friends in Need, Indeed! Chapter 3: “Not All Those Who Wander Are Lost” Chapter 4: “ Lock, Stock, and Smoking Barrel.” Chapter 5: “Collaboration is a Two Way Street.” Chapter 6: The Invoice-Paper-OCR Game Chapter 7: Shape of Invoices in a Flat World Chapter 8: Supplier’s …...

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