Consulting firm hopes solution will handle a wide variety of data, be flexible enough to clients' demands and objectives
Princeton, NJ May 10, 2004 Zycus Inc., a spend data management software provider for strategic sourcing, said that it has been selected by McLean, Va.-based BearingPoint, a business consulting, systems integration and managed services firm, to provide an automated global spend analysis infrastructure for a strategic sourcing consultancy project at a Fortune 50 company.
Faced with the prospect of deploying a global spend analysis solution in a time frame of under three months, BearingPoint said it began to look beyond conventional solutions that have traditionally revolved around services.
According to firm, "automation" was identified as a key component to ensuring the success for the project. In addition, the challenge to maximize discovery of savings opportunities meant accurately classifying data to the lowest levels possible levels.
"Zycus' [spend data management (SDM)] software will aid BearingPoint's requirement of automatically processing multi-billion dollars of global spend data, in a short time frame, along with deployment of Web-based analytic tools to facilitate 'savings discovery' for clients," said Sandip Maiti, vice president, Marketing, Zycus Inc.
"Products from companies such as Zycus have the ability to handle a wide variety of data and extract rich information, irrespective of the quality and descriptiveness of each client's spend data," said Peter Buettgen, managing director, BearingPoint. "This gives us the flexibility to meet the discerning client's specific demands and objectives."