RELATED NEWS
- Ariba looks to Bloomberg for spend management inspiration - Procurement Leaders Exclusive
03 Jul 08 - Job cuts out output figures fail to lift the gloom
03 Jul 08 - Public sector procurement still work in progress
02 Jul 08 - Global slowdown far from over, influential body predicts
01 Jul 08 - The heat is on as reality strikes
18 Jun 08 - ICG and Genpact combine to create new outsourcing solution
30 May 08
RELATED ARTICLES
- Gas and electricity price hikes set to ignite combustible situation
- Spend Analysis Roundtable: How much?
- Checking out retail
- Ten top tips for Spend Analysis
- Scenario: How do you persuade your colleagues and senior managers that it’s worth devoting time and resources to analysing your spend?
- Scenario: How do you persuade your colleagues and senior managers that it’s worth devoting time and resources to analysing your spend?
KNOWLEDGE MANAGEMENT TAGS
"Spend Management"
Zycus improves spend visibility for Norwegian giant
Zycus' spend analysis solution has enabled one of Scandinavia's biggest companies, Orkla, to improve spend visibility across its operations in 13 countries, the company has said.
The Norway-based company implemented Zycus' artificial intelligence-based spend data management software solution, AutoClass, as part of a drive to reduce purchasing costs by $165m by 2009 compared to 2005.
The new spend analysis system, known as SMART, allows Orkla an insight into all purchases made by individual companies within its network.
"This system will make it possible for Orkla to create substantial value and revolutionize the possibilities for collaboration between group companies," Edgar Heitmann, project manager at Orkla said.
"We can see what each company buys, on what conditions and from which supplier. Until now, procurement and strategic sourcing has largely been carried out by individual companies, without exploiting our aggregate strength as a group in relation to the supplier market."
Aatish Dedhia, Zycus CEO, described Orkla as a "unique challenge" due to its significant presence in both Western and Eastern Europe and the wide range of languages used across its purchase order, materials management and accounts payable systems.
"Zycus - with its AI based software that is language agnostic and can classify spend from multiple, disparate ERP, legacy, e-procurement systems - is uniquely positioned to cater to the spend analysis challenges posed in Europe," he said.
= Network Members Only 
= Corporate Members Only
