Princeton, NJ, January 12, 2009 – Zycus Inc., the leading Spend Management solutions company, today announced significant performance during the first half of its fiscal year, recording 122 percent in overall year-over-year growth. The company follows an April to March fiscal year.
During this period, Zycus added 27 new customers across multiple countries and established alliances with eight new partners. In addition, Zycus received the “Red Herring 100 Asia 2008 Award,” for providing Global 1000 Companies with a comprehensive suite of Spend Management solutions, including Spend Analysis, Strategic Sourcing, and Supply Market Intelligence. The company also continued to grow its work force to more than 250 employees worldwide to support the increasing demand for its Spend Management solutions across the globe.
“We are very pleased with our first half results,” said Astish Dedhia, CEO of Zycus. “Our customers have come to expect Zycus’ innovative and effective solutions to help them manage their global sourcing and procurement processes. We are confident we’re providing our customers with improved spend visibility, enabling them to achieve accelerated savings in the present economic conditions. This is perhaps the best time for more organizations to adopt such solutions.”
“Our commitment to create and deploy easy-to-use solutions is delivering great results,” said Anurag Dixit, Vice President of Marketing at Zycus. “Zycus customers have realized significant and quick ROI with our best-in-class Spend Management solutions. We continue to expand in industry verticals such as automotive, aerospace and defense, and continue to be the preferred solutions provider to the insurance and financial services industries.”
Zycus solutions are designed from the ground up to increase procurement efficiencies while simplifying complex processes via its easy-to-use solutions. By leveraging innovative technologies like Web 2.0 and Artificial Intelligence, Zycus Solutions ensure greater adoption, faster ROI and reduced process time. Zycus Spend Management solutions enable procurement professionals to analyze, plan and source their spend to achieve consistent sustainable savings.
Zycus was featured in an October 23, 2008 profile article titled “Doing What Comes Naturally: Accessing Zycus Spend Management Innovation Through A Simplified and Practical User Interface”. Use the following link to access the article in its entirety: https://procureinsights.wordpress.com/2008/10/23/doing-what-comes-naturally-accessing-zycus-spend-management-innovation-through-a-simplified-and-practical-user-interface-zycus-inc-profile/
What is most interesting about Zycus’ tremendous rate of growth is that it is indicative of the evolution (some would even suggest fruition) of a trend that was first presented in a Procurement Insights post from August 31, 2007. Titled “The Ariba Interviews: Re-engineering the Future of On-Demand,” I made reference to a number of reports and articles that clearly indicated the beginning of a paradigm shift in favor of emerging vendors such as Zycus whose expertise, product quality and SaaS pricing model had finally started to achieve mainstream acceptance. An acceptance that extended beyond the simplistic, and largely inaccurate “bolt-on” moniker that had historically been assigned to solutions which fell outside of the traditional ERP-centric “architecture” that had for years dominated the supply chain software landscape.
As a result, and when you look beyond the immediate fiscal impact, the 122 percent growth rate is both a key indicator of this continuing trend relative to the aforementioned paradigm shift, as well as Zycus’ growing dominance as a global leader in the areas of spend management, strategic sourcing and supply market intelligence. While “marketing” news involving growth makes good PR, it is the actual numbers as they relate to the industry as a whole that are ultimately the true measure of a company’s success. And make no mistake, Zycus is a success.
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Posted on January 20, 2009
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