November 03, 2015 09:29 ET

Zycus in Association With Ardent Partners Release the Annual Report on the State of Strategic Sourcing

PRINCETON, NJ--(Marketwired - November 03, 2015) - Zycus, a leading provider of source-to-pay procurement solutions, in association with Ardent Partners, announced the release of the annual report on the state of strategic sourcing, authored by Andrew Bartolini, Chief Research Officer at Ardent Partners.

This latest report titled "The State of Strategic Sourcing 2015: The Four Pillars of Sourcing Success," talks about:

  • Current landscape - Sourcing pressures and challenges faced by sourcing leaders.
  • Four Pillars of Sourcing Success - Critical sub-process areas that comprise strategic sourcing.
  • Best Practices - Strategies and techniques used by best-in-class sourcing organizations to outperform their competitors.

Furthermore, the report reveals how a majority of CPOs and sourcing leaders need to enhance and optimize their relationships with other departments where they need to build and exert influence -- for the good of procurement and the enterprise.

Ardent Partners analyzed the performance of 330+ sourcing and procurement teams and used "savings realized last year" and "percentage of spend sourced" as two key variables to determine maturity levels. They compared strategic sourcing capabilities and other factors, like process automation adoption, between best-in-class and all other sourcing teams.

"Best-in-Class sourcing succeeds in the consistent execution of their sourcing projects by taking a holistic approach to the entire sourcing process and leveraging process automation tools across it," says report author, Andrew Bartolini. "Best-in-Class sourcing also requires teams to be able to blend traditional sourcing approaches with more robust category strategies, more penetrating views of supply markets, and deeper collaborative ties with suppliers."

To explore more about the four pillars of sourcing success, download the report now.

About Ardent Partners

Ardent Partners is a research and advisory firm focused on defining, advancing, and promoting the supply management strategies, processes, and technologies that drive business value and accelerate organizational transformation within the enterprise. Ardent Partners actively covers the supply management solutions marketplace and produces research to help business decision-makers understand the technology landscape and identify the best-fit solution(s) for their specific needs.

About Zycus

Zycus is a leading global provider of procurement solutions suite across the source-to-pay and procure-to-pay cycles. Our product portfolio includes applications for strategic procurement -- Spend Analysis, eSourcing, Contract Management, Supplier Management and Financial Savings Management and operational procurement -- eProcurement, eInvoicing. Our spirit of innovation and our passion to help procurement create greater business impact is reflected among the hundreds of procurement solution deployments that we have undertaken over the years. We are proud to have as our clients, some of the best-of-breed companies across verticals like Manufacturing, Automotive, Banking and Finance, Oil and Gas, Food Processing, Electronics, Telecommunications, Chemicals, Health and Pharma, Education and more. We currently cater to over 300 customers worldwide in 20 countries.

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