Making procurement intelligent
Any procurement manager will tell you there are some universal problems in procurement. These include outdated procurement systems with clunky workflows, lack of real-time visibility, inability to predict and mitigate supplier risks, slow and error prone invoice processing for non PO invoices and manual invoices.
Zycus wanted to solve this inefficiency and opacity of traditional procurement methods using Generative AI technologies.
Optimising source to pay
Zycus leveraged Azure OpenAI to complement its Merlin AI suite product and solved a wide range of use cases including supplier discovery and risk management, autonomous procurement, intake management and more. All this while enabling informed decision-making and better UX.
Zycus’ AI-powered chat assistant, Merlin Assist, works within Microsoft Teams and simplifies tasks, facilitates collaboration, and provides on-demand support, streamlining workflows and enhancing user experience. It has boosted adoption multi-fold, improved team productivity, and created a more frictionless procurement experience.
Reducing processing time
With the integration of Generative AI, there’s been an 45% increase in supplier risk management accuracy, mitigating potential disruptions and protecting against financial losses. Merlin AI also helps reducing processing time by up to 70% and eliminating errors.
Aatish Dedhia
Founder & CEO
Zycus
Procurement is a perfect storm of opportunity – with Gen AI, Responsible sourcing, Regulatory push and consumer pull all converging in this “leap year”. At Zycus we have espoused this with our cognitive, composable, and conscious ethos. Combining cognitive power into best of AI solutions, i.e. Merlin AI and Merlin Assist. Bringing composable agility with solutions like AppXtend, empowering enterprises to build custom procurement ecosystems at scale. And consciously crafting a sustainable future with groundbreaking initiatives like Lythouse.
45%
increase in supplier risk management accuracy
70%
reduction in processing time
Zycus is a pioneer in Cognitive Procurement software and has been a trusted partner of choice for large global enterprises for two decades. More details at https://www.zycus.com
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