30 October 2003 | Liam O'Brien
Data analysis software designed to remove the manual line-by-line legwork required to determine indirect spend has been launched by US company Zycus.
Spend Data Management 2.0 automatically trawls through large quantities of data stored on a variety of systems, and groups together related areas of spend from across an organisation. It uses the UN Standard Products and Services Code, a worldwide e-commerce classification system, to classify the data.
This paves the way for supplier rationalisation, according to Sandip Maiti, director of marketing at Zycus.
He claimed the savings that can be delivered over six months could be as high as 45 per cent.
Companies buying Zycus software include P&O and Unilever.
Maiti said a key advantage for large clients is that, because the software automates indirect supply chain analysis, it saves management time tackling the issue as well as the need to hire external consultants.
Zycus says its system delivers accuracy of 90 per cent while operating at the speed of 50,000 transaction records per hour.