PRINCETON, N.J — Zycus, a world leader in Spend Management Solutions, announced today that it is working with Equifax Inc. to give businesses greater visibility into supplier relationships and corporate spend across their enterprises. Now, businesses using Zycus solutions can take advantage of Equifax’s extensive data management services, which will be linked in real time into the Zycus spend management suite of applications, to help them leverage their information assets more effectively and improve strategic sourcing, spend management and supplier diversity programs.
Through this relationship, Zycus Spend Analysis (SA), Supplier Information Management (SIM) and Supplier Performance Management (SPM) solutions will leverage the Equifax master data management database, with information on more than 45 million businesses worldwide. Zycus customers also gain access to the EFX ID, a nine-digit identifier that links together an organization’s divisions, subsidiaries and locations into a global corporate hierarchy.
“Each corporate entity has its own data blueprint and unique view of the world,” said Anurag Dixit, Vice President of Marketing at Zycus. “The real time linkage, combined strength of Equifax’s extensive business data assets and Zycus’ leading software solutions provide an incredibly powerful platform for strategic sourcing and spend management initiatives. We are excited to bring this enrichment to our customers and look forward to observing the innovative ways in which they will use the information to create unique benefits for their companies.”
By enriching Zycus’ solutions with Equifax data services, businesses benefit from a clear, consolidated view of supplier information across multiple data sources. Benefits include reduced costs, improved procurement compliance and greater ROI from supplier relationships.
“To leverage buying power and minimize risk in today’s marketplace, businesses need a 360° view of their supplier base across all financial systems and business units,” said Mike Zier, Senior Vice President, Equifax Commercial Information Solutions. “Working together, we are connecting businesses with insightful supplier data when and where they need it. Companies that adopt these tools can strengthen their procurement processes and better align key resources and corporate initiatives.”
“This partnership will enable Zycus’ customers to achieve best-cost country sourcing objectives, comply with diverse tax, regulatory and socioeconomic program requirements and ensure continuity of supply while understanding their overall balance of trade with specific suppliers,” says Arthur Raguette, Vice President of Business Development for Zycus. “This real time linkage and collaboration equips businesses with the information they need to easily locate suppliers for eSourcing events and enable faster and more accurate on-boarding of suppliers for Zycus SIM Solution users.”