EDITOR’S NOTE: Before reading today’s post, please do so now if you haven’t read the previous post—Finally, No GenAI Hocus Pocus (A new DUET?)—because it will provide the needed context regarding today’s blog entry.
I recently asked ChatGPT the following questions, to which I received the following answers:
When did Zycus introduce Merlin?
Zycus introduced Merlin AI Suite in 2019. Merlin is an AI-driven platform that automates tasks, generates insights, and supports decision-making by enhancing procurement and sourcing processes. The suite leverages artificial intelligence and machine learning to provide features like cognitive procurement, intelligent contract management, and predictive analytics.
Merlin’s capabilities are aimed at helping procurement teams streamline operations, reduce manual effort, and make more informed, data-driven decisions. It’s part of Zycus’ broader focus on enhancing digital procurement through innovation.
When did the procurement GenAI hype begin?
The hype around Generative AI (GenAI) in procurement began gaining significant traction in 2023, following the broader surge in interest in generative AI technologies like OpenAI’s GPT models (e.g., ChatGPT). While AI had already been used in procurement for several years—mainly for automation, predictive analytics, and supplier insights—2023 saw a shift towards using generative AI specifically for tasks like:
- Creating procurement documents (e.g., contracts, RFPs)
- Enhancing supplier negotiations through AI-generated insights
- Automating communication between procurement teams and suppliers
- Analyzing spend data to generate more strategic procurement decisions
The broader excitement around GenAI across various industries led procurement technology providers to explore its potential rapidly. Key players such as Zycus (with its Merlin AI), Coupa, and Ivalua began integrating or enhancing GenAI capabilities in their platforms, further fueling the hype. The focus is on leveraging GenAI to improve decision-making, streamline sourcing processes, and reduce manual effort in procurement.
What Is Your Takeaway?
What are the most notable points you take away from the above CharGPT answers to my questions?
For me, the two most notable points are 2019 and 2023.
Why do these two dates matter?
Because long before the GenAI hype started in 2023, Zycus had already been working on and introducing Merlin—or what I now call the “New DUET.”
If Microsoft had Teams in 2004, SAP would now be called MS SAP
Not long ago, I wrote The Road Not Taken: How The Mendocino Project May Have Altered Procurement’s Digital Transformation.
While I am not one to live in the past or frequently ponder “What If” scenarios – although selling my company in 2001 for $12 million is a bit of a sticking point, perhaps even regret, within the first few minutes of the Zyus Merlin demonstration this past week I realized that they had taken the DUET project to the next level and generation. This time, unlike the original MS and SAP duet, the difference is that Zycus did it quietly, without a lot of “look at us GenAI hype.”
Having received an advanced-release demo recording was powerful because it is authentic and effective at demonstrating what expertise and a focus on doing rather than promoting can achieve. They promise to permit me to release the demo video within the next week to ten days.
Public Demo Link Coming Soon – (Stay Tuned For The Link)
In the meantime, their approach’s simplicity makes it all work, which started well before the GenAI hype cycle. In this regard, the company resisted the temptation to bang the drum and instead created something that worked. How many high-flying solution providers talked a big game but now find themselves back at square one?
Meanwhile, Merlin reflects a progressive development track that delivers results at each checkpoint on the map. From my standpoint, this makes Zycus a thinking, problem-solving company rather than a technology company—although they are also that.
Here are a few additional points Zycus highlighted during my advanced demo viewing:
- Zycus’ GenAi powered conversational UI will democratizeN* Procurement.. decentralized to the 1000s of business users who will be saved the apathy meted to them by dozens of enterprise software they have to deal with and learn to use to carry out basic tasks.
- Zycus Intake management is conversational. It addresses policy compliance, which is built not through complex rules-based systems or confusing and large forms to be filled out but just through natural language chat.
- It is also not bolted on like a quick band-aid on top of your legacy S2P software.
- This means the CPO comes across as the true hero. S2P adoption goes up, Maverick spends go down, and spending is better viewed and controlled. Most importantly, end users are happy.
N* – Personally, I detest the use of industry buzzwords like “democratize,” but the fact that Zycus is one of the few companies to show me an actual demo of what their system does versus a PowerPoint with graphics of what it will do, I will let this one slide.
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Procurement Insights
Walk Softly And . . . Why Some Solution Providers Are Going To Survive And Thrive Beyond 2025
Posted on September 13, 2024
0
EDITOR’S NOTE: Before reading today’s post, please do so now if you haven’t read the previous post—Finally, No GenAI Hocus Pocus (A new DUET?)—because it will provide the needed context regarding today’s blog entry.
I recently asked ChatGPT the following questions, to which I received the following answers:
When did Zycus introduce Merlin?
Zycus introduced Merlin AI Suite in 2019. Merlin is an AI-driven platform that automates tasks, generates insights, and supports decision-making by enhancing procurement and sourcing processes. The suite leverages artificial intelligence and machine learning to provide features like cognitive procurement, intelligent contract management, and predictive analytics.
Merlin’s capabilities are aimed at helping procurement teams streamline operations, reduce manual effort, and make more informed, data-driven decisions. It’s part of Zycus’ broader focus on enhancing digital procurement through innovation.
When did the procurement GenAI hype begin?
The hype around Generative AI (GenAI) in procurement began gaining significant traction in 2023, following the broader surge in interest in generative AI technologies like OpenAI’s GPT models (e.g., ChatGPT). While AI had already been used in procurement for several years—mainly for automation, predictive analytics, and supplier insights—2023 saw a shift towards using generative AI specifically for tasks like:
The broader excitement around GenAI across various industries led procurement technology providers to explore its potential rapidly. Key players such as Zycus (with its Merlin AI), Coupa, and Ivalua began integrating or enhancing GenAI capabilities in their platforms, further fueling the hype. The focus is on leveraging GenAI to improve decision-making, streamline sourcing processes, and reduce manual effort in procurement.
What Is Your Takeaway?
What are the most notable points you take away from the above CharGPT answers to my questions?
For me, the two most notable points are 2019 and 2023.
Why do these two dates matter?
Because long before the GenAI hype started in 2023, Zycus had already been working on and introducing Merlin—or what I now call the “New DUET.”
If Microsoft had Teams in 2004, SAP would now be called MS SAP
Not long ago, I wrote The Road Not Taken: How The Mendocino Project May Have Altered Procurement’s Digital Transformation.
While I am not one to live in the past or frequently ponder “What If” scenarios – although selling my company in 2001 for $12 million is a bit of a sticking point, perhaps even regret, within the first few minutes of the Zyus Merlin demonstration this past week I realized that they had taken the DUET project to the next level and generation. This time, unlike the original MS and SAP duet, the difference is that Zycus did it quietly, without a lot of “look at us GenAI hype.”
Having received an advanced-release demo recording was powerful because it is authentic and effective at demonstrating what expertise and a focus on doing rather than promoting can achieve. They promise to permit me to release the demo video within the next week to ten days.
Public Demo Link Coming Soon – (Stay Tuned For The Link)
In the meantime, their approach’s simplicity makes it all work, which started well before the GenAI hype cycle. In this regard, the company resisted the temptation to bang the drum and instead created something that worked. How many high-flying solution providers talked a big game but now find themselves back at square one?
Meanwhile, Merlin reflects a progressive development track that delivers results at each checkpoint on the map. From my standpoint, this makes Zycus a thinking, problem-solving company rather than a technology company—although they are also that.
Here are a few additional points Zycus highlighted during my advanced demo viewing:
N* – Personally, I detest the use of industry buzzwords like “democratize,” but the fact that Zycus is one of the few companies to show me an actual demo of what their system does versus a PowerPoint with graphics of what it will do, I will let this one slide.
30
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