We're excited to announce Zycus as a new Spend Matters affiliate sponsor. Welcoming Zycus to Spend Matters (and Spend Matters UK/Europe, where they've become an Associate Sponsor) is something we're quite excited for. Zycus has come to represent the overall progression of the profession. By starting out as a specialist spend classification provider and then expanding out into analytics – and later sourcing, supplier management, finance/savings tracking/budgeting, supplier performance management, contract management and related areas – they have more than proved that an organization expert in one area can fill far bigger shoes.
Now with a stated ambition (as of this week) to tackle eProcurement and e-invoicing as well, Zycus will soon become one of the few true end-to-end suite vendors (built on top of a common architecture and stack, to boot). Regardless of Zycus' broader end-to-end suite ambitions, they already offer a differentiated solution set and viewpoint in enabling front-line usability for sourcing, supplier performance management and related areas.
As we wrote about Zycus in a recent Spend Matters PRO Research Brief, Zycus: Rock, Paper, Scissors ... Suite, "Zycus' transformation from spend analysis (really, spend classification) specialist to integrated suite provider happened at a rather furious pace given how little many of its competitors have accomplished from a product development and R&D perspective in the same time frame. ... Today, the individual components of Zycus' suite include not only e-sourcing, but also a range of other areas: basic optimization, supplier performance management, supplier management, contract management, total cost modeling and savings tracking/implementation."
On a personal note, I'm really excited to see Zycus continue to grow in this sector. When I first started covering Zycus in 2004, Spend Matters was a bit of a sideshow on the broader procurement media and analyst stage. But today, with twelve dedicated resources (soon to be thirteen, but more on that shortly), we're the most active firm covering the sector. Our growth has paralleled Zycus' expansion. And we're keen to see where their growth past takes them next – and share the latest that we learn from them on these virtual pages.
Please join me in welcoming Zycus to Spend Matters!