What if Jarvis from Iron Man was real, wouldn’t you want an assistant like that, the one that can help you with your day to day mundane task without The post Addressing the Digital Transformation Mandate: A Procurement Perspective appeared first on Zycus Procurement Blog ..read more

Lessons supply chain can learn from the show Game of Thrones The biggest lesson the world of Game of Thrones teaches us is The post Is your procurement prepared for the winter? appeared first on Zycus Procurement Blog ..read more

There are many benefits of contract management software, especially in today’s world. Also, contract management software provides the legal, procurement, financial, sales, and contract administration teams with a useful set of tools to effectively and efficiently manage the entire contract management process. It benefits the organization by speeding up and automating the contract creation, negotiation, and approval process. It also acts like a repository where all necessary contract-related data is kept securely and safely for easy access in the future. The ultimate goal of contract management ..read more

Getting practical procurement advice is difficult in the current scenario. Ever since the coronavirus (COVID-19) outbreak disrupted the global economy, both public and private sector organizations are looking at procurement to help steady the ship. While private sector organizations are seeking procurement’s advice to reduce costs and improve cash-flows, public sector organizations are looking to spend more by engaging with local suppliers and small businesses to keep the economy afloat. Suddenly, procurement teams find themselves under the spotlight, and a rapid response is expected fro ..read more

The ongoing pandemic has plunged the world into an unprecedented reality. Rapid action-plans have become the need of the hour to deliver tangible business outcomes. Therefore, the current situation demands procurement to be more of a centre of excellence rather than a standalone function. With over 65% CPOs focusing on Digital Transformation in 2020, it is important to look at long-term objectives. While you might be looking at adopting on-point solutions to address immediate concerns, a road-map for the entire Source-to-Pay suite should be on the charts. Current State of Procurement Supply ch ..read more

At Zycus, we are continuously revamping and adding new features to streamline and fulfill the advanced procurement requirements of organizations around the globe. By embracing this perpetual change, Zycus creates and executes a roadmap that will help our user community and customers, yield real and positive ROI along with keeping up with the changing market dynamics. The latest release for the Zycus Contract Management module addresses additional flexibility for contract management, shortened cycle time or iteration, and heightened stakeholder alliance, efficiency, and cross-module visibility ..read more

So many things are slated to change in 2020, the milestone year! But what matters most is your career; how is it going to prepare you as a procurement manager? Okay, let me clarify that there isn’t any significant difference between a Purchasing or Procurement Manager. Of course, you know it because you are in the procurement arena already. Typically, a procurement manager’s job descriptions entail the following-  Partner with the category teams and leaders in developing and implementing strategies to drive significant value from the supplier base. Conduct in-depth research on existing and em ..read more

For any organization, managing contracts is a very tricky and daunting task. For instance, a simple contract expiry query or the effort to locate the latest contract version can handicap a transaction. Businesses, to overcome such a challenge and maximize workflow efficiency, have taken to document management system (DMS). Progressive organizations, for better management, prefer advanced contract management software to an everyday DMS. Why Do We Need a Contract Management Software? A Contract Management software provides necessary insight into contract data, facilitates collaboration between ..read more

The point of contention in this article is to understand if a contract management software can drown your business? And we say, yes, the absence of a contract management software can be very detrimental to your business. In an organization, sales and marketing contribute significantly to the bottom line. But depending on the administration of the contract management software, the impact is variable. Big organizations have many teams comprising of legal and contracting professionals, procurement contract managers, and so on. In addition to these teams, there is often the need for other employe ..read more

Hope the holidays were happy! Back to work after a long break and we mean serious business and by that we mean procurement contracts, our focus area in this blog series. Image credit: Flickr  “Contracts do indeed play an important role, representing a source of economic value for a business. Yet, 30% to 35% of an organization’s contracts under perform. That cost translates to about 9% of annual revenue.” – Tim Cummins, President and CEO of IACCM However, with the advancement in technology, organizations can redesign the existing contracting process, resulting in better collaboration, enhance ..read more