Finally, Zycus said that its Real-time Spend Compliance (RTSC) solution offers spend classification tools that are "integration ready" with ERP and e-procurement systems (such as SAP, Ariba) to provide UNSPSC classification "at-source". This feature can be integrated within an existing user interface and is intended to drive increased adoption of e-procurement and greater compliance with preferred suppliers and contract terms.
Companies already using Zycus' solution include GE and Unilever, as well as P&O, Florida Crystals, EnPro Industries, Bosch and Honeywell Federal Manufacturing & Technologies (FM&T).
"It is not that the 'spend data crisis' was not known, but more an issue of the availability of the right software tools at most enterprises," said Sandip Maiti, director of marketing at Zycus. "With the release of SDM suite v2.0, we are confident that Zycus will help accelerate deployment of Spend Data Management initiatives at leading organizations around the world, reigniting the spend analysis and spend compliance marketplace."