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Zycus’ Strategic Sourcing Compliance Solutions are specifically designed to safeguard organizations from compliance risks, ensuring a procurement process that adheres to regulations while optimizing spend visibility and cost savings. These solutions facilitate legal oversight in contract management, enforce strict regulatory compliance during supplier onboarding, and provide comprehensive risk management. With the aid of automated alerts and reminders, organizations can effectively monitor procurement milestones, ensuring adherence to contract terms and regulatory requirements, thereby maintaining a competitive edge through compliant procurement practices.
Key Points
Compliance-First Approach: Zycus emphasizes creating a procurement process that complies with all relevant regulations, reducing the risk of non-compliance.
Increased Spend Visibility: Helps organizations reduce maverick spending and preserve cost savings by ensuring compliance with contract terms.
Legal Involvement in Contracts: Encourages the inclusion of legal teams in the contract creation and review process to prevent breaches.
Regulatory Compliance in Supplier Onboarding: Implements strict controls to minimize supplier risk through detailed evaluation KPIs and scorecards.
Automated Alerts and Reminders: Offers intelligent solutions for tracking key procurement milestones, deliverables, and service level agreements, ensuring timely awareness of contract expiries, utilization rates, off-contract spending, and risk obligations.
Support for Procurement Process: Zycus’ solutions are designed to provide the necessary support for organizations to meet all compliance requirements efficiently, safeguarding their buying power and competitive market position.
