Type Private Key people Aatish Dedhia, CEO Number of employees 650 Founded 1998 | Area served World Wide CEO Aatish Dedhia (1998–) Founder Aatish Dedhia Parent organization Zycus Infotech Pvt. Ltd. | |
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Industry Internet Software & Services Number of locations NewJersey, Chicago, Atlanta, London, Melbourne, Netherlands, India Products Complete Source-to-Pay suite of procurement performance solutions Headquarters Princeton, New Jersey, United States Profiles | ||
Zycus road map vision
Zycus is a global procurement suite provider, which designs and develops software solutions in the procurement domain.
Contents
Procurement software suite zycus source to pay suite
History
Zycus was founded in 1998 by Mr. Aatish Dedhia. Dedhia had worked previously at Intel Corporation in the U.S. where he was part of the core design team on the Pentium-II processor and introduced Internet and Intranet technologies within the Pentium-II group for improving group work and knowledge management.
In 2002, Zycus introduced AutoClass, which performs automatic classification using artificial intelligence (AI) rather than rigid mapping algorithms to code and classify products for representation in business-to-business e-commerce catalogs. Zycus tied this auto-classification engine to the Universal Standard Products and Services Classification product coding system (known alternatively as the United Nations Standard Products and Services Code or UNSPSC). In 2003, they expanded the application of this technology to corporate spend analysis, mining corporate transaction records to generate information for use in support of strategic sourcing, supply-base reduction, supplier negotiations and corporate spend-reduction endeavors.
The firm continued to refine auto-classification and spend analysis technologies as well as artificial intelligence and to build additional solutions for procurement such as electronic sourcing, contract management, supplier performance and information management, financial savings management and procure-to-pay (P2P).
In 2012, the firm applied AI-powered auto-classification to the execution of procurement transactions, classifying spend transactions as they occur and guiding employees to choose preferred or standard items and services and to make lowest-cost spend decisions (guided buying).