Zycus and The Hackett Group Come Together to Promote the 2015 Global Purchase-to-Pay Performance Study
By Business Wire News
Zycus, a world leader in Procurement Technology solutions across the source-to-pay cycle, announced today that it will promote in association with The Hackett Group (NASDAQ: HCKT), the 2015 Purchase-to-Pay Performance study. The Hackett Group’s study, which has been one of the most widely-used studies of its type for more than a decade, is designed to enable organizations to measure performance of their purchase-to-pay processes against top performing organizations and a peer group.
“Zycus is taking an active interest in the changing procurement landscape. Bearing in mind the growing importance and focus on P2P process improvement, we are happy to collaborate with The Hackett Group and encourage organizations to participate in this study” said Richard Waugh, VP Corporate Development, Zycus.
He further added, “Only through measuring and benchmarking baseline performance against top performers, can organizations gain insights into their current performance vis-à-vis their competition and also develop the business case to drive improvements across purchasing operations and accounts payable.”
Amy Fong, P2P Advisory Program Leader for The Hackett Group said “Our insights are fact based from over 11,000 benchmark studies and extensive consulting experiences. The Hackett Group’s P2P Value Grid™ helps organizations identify the capability and performance gaps. Through this report, they will gain a framework of 25+ proven best practices to reduce cost per transaction, increase process efficiency and effectiveness, and optimize working capital.”
Under this collaboration between Zycus and The Hackett Group, participating organizations will receive a complimentarycustomizedreport which details their position in The Hackett Group’s P2P Value Grid™. The value grid compares an organization’s:
- Performance across 50+ key metrics focused on efficiency (e.g. cost-per-transaction, cycle times, productivity, etc.) and effectiveness (e.g. channel strategy, first-pass match rate, early payment discounts, etc.)
- Level of bestpractice implementation against 25+ Best Practices, including policy, governance, process design, technology, and talent management
“In a recent survey we have found that Top Performers continue to lead in technology enablement while peers still have room for improvement.” Fong added.
To know more or participate in this study, click here.
*The Hackett Value Grid™ clearly shows your firm’s performance in comparison to world-class and a relevant peer group. Only those firms that reach the top quartile in both effectiveness and efficiency metrics meet The Hackett Group’s definition of world-class.
About The Hackett Group
The Hackett Group (NASDAQ: HCKT), is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices implementation firm to global companies. Services include business transformation, enterprise performance management, working capital management, and global business services. It has completed more than 11,000 benchmarking studies with major corporations and government agencies.
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.