Organizations are striving to increase an understanding of company spend, ways to improve innovation speed and company capital and cash. Procurement have for a long time struggled to highlight the possible impact the know how they possess can have on all of the above. Challenges visualizing what is and what if can be part of the problem.
EBG | Network teamed up with Richard Waugh, VP Corporate Development at Zycus to learn more about his knowledge and their view on procurement potentials.
Richard worked for 16 years at GE Information Services giving him a grounded view on what he share. We spoke at length about;
- How can companies evaluate organization-readiness and create an improved strategy through digitizing Source-to-Pay processes?
- In what ways can companies align & optimize Source to Pay strategies to influence/improve top line growth?
- What impact does improved Procurement Category Expertise and Supplier Performance Management have on corporate development?
Below the interview with Richard which offer both concrete advice and reassurance that most struggle with the same challenges.
It is interesting learning about the background system and service providers have. Do they come from a finance or procurement perspective for instance, have they built up their service landscape and/or bought/merged with others, in what ways are they offering their services and what do their future plans look like.
From Zycus website we learn that: Back in the 1990s, when the commercial Internet was still beginning to revolutionize the way we live, personally and professionally, the founder of Zycus was inspired to develop web-based business applications for procurement professionals. We started our journey in 1998 and like any new company; our first big challenge was to find the very first customer. When we won GE, we knew we were doing things the right way. Ever since, we have continued on the path of innovation to provide sophisticated end-to-end procurement solution suites with one focus – our customers’ happiness.