I'm thrilled to announce this morning that Zycus has become a Lead Sponsor of Spend Matters. Previously an Associate Sponsor, Zycus has now assumed a Lead Sponsor role. If you're not familiar with Zycus -- or think all that they do is spend classification -- then you're clearly missing out. Zycus is a vendor that has transformed itself in recent years from a strong niche player in a single area to a broader Spend Management suite provider with capabilities stretching from upfront data acquisition, spend classification and analysis through to sourcing and contract management. And they have ambitions on building out an even larger footprint in the Spend Management market. I'm hearing Zycus' name come up in an increasing number of sourcing and related deals and it's clear that their message and solution focus on usability and value is resonating in the current environment. If you think that Zycus is just about spend classification, then your knowledge is clearly a few years old. A lot can change in a short period of time, and it has with Zycus.
As a Lead Sponsor, Zycus will have an opportunity to work with Spend Matters more closely in the areas of thought leadership and speaking -- not to mention gaining greater exposure to call attention to their solutions and ideas. I'm personally looking forward, in particular, to better understanding Zycus' global footprint and any differences in the adoption drivers in North American relative to Europe and the Asia Pacific region. Zycus is one of the few providers in the Spend Management market that has successfully penetrated both Europe and the Asia Pacific market on a consistent basis and I'm curious to learn if their global customers are focused on similar issues or whether key issues in specific geographies are responsible for localized adoption and investment rationale. Moreover, since Zycus also provides a range of enabling services including full services sourcing events and supply market research, they're in touch with the broader needs of procurement organizations outside of just enabling software, and further investigating any global variances in the demand for enabling capabilities could prove useful as well.
Please join me in welcoming Zycus as a Lead Sponsor of Spend Matters. As one of the few companies in the sector with a truly global footprint with the ambition to lead with an end-to-end Spend Management suite, Zycus will most certainly be a key provider to watch in 2010 and beyond. And as a Lead Sponsor of Spend Matters, they've intentionally decided to put themselves in the spotlight. Now what they do on the global procurement stage will be up to them. But if their ability to rapidly build out solutions as well as their current customer experiences are any indication of what is to come, I suspect there will be multiple curtain calls as their efforts and expansion continue to play out on the global stage.