B2B Payments

eNegoiations Now Available

When dealing with suppliers and clients and ferociously negotiating, how does a company keep track of what price they’ve agreed upon, how that will impact the P&L and can they afford to go any lower? With Zycus’s new release of the Negotiate feature, businesses are back in control in the negotiations.

Zycus is focused on position procurement at the heart of businesses operations, across the globe that strives to make "procurement as a power-house of futuristic business intelligence, a resourceful profit center, an informed decision maker and a proactive change agent in their organization”.

 

The companies online sourcing platform, iSource, has expanded to include Negoiate which will enable procurement professionals to incorporate outcomes from face-to-face and other offline negotiation rounds into the platform while still taking advantage of bid comparison, evaluation and business-award functions after negotiation rounds.

 

The easy import-export between iSource and desktop spreadsheet applications allows buyers and suppliers to revise bid information offline as negotiated while documenting bid and revision histories within the iSource system of record. Suppliers participating in one-to-one negotiations must always approve or reject revised bids within iSource before another negotiation round or final analysis and award can begin.

 

“Every new feature we develop for a Zycus solution is a feature that real, on-the-ground procurement professionals ask us to create,” says Zycus founder and CEO Aatish Dedhia. “And, since few savvy procurement pros are content to conduct important, strategic competitive bids without some form of direct interaction with suppliers, we have incorporated this interaction into our e-Sourcing workflow”.

 

Additional features of the iSource release include:

  • Integration enabling new sourcing events to be launched from within Zycus’ e-Procurement platform for non-catalog requisitions and then returned to e-Procurement once business verdicts have been made.
  • New admin features providing additional control over how multiple users interact with iSource.

 

Dedhia explains, “Now our iSource customers get the best of both worlds. On the one hand, they get efficiency; sourcing cycle-time acceleration; more competitive events (because they can include more suppliers); big computing power for multidimensional bid evaluation, analysis, comparison and award, and complete, centralized documentation of all competitive bidding events. On the other hand, they still get to practice the fine art of human negotiation, which is the procurement pro’s core proficiency”.

 

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