NJ-ZYCUS
4.4.2024 17:01:26 CEST | Business Wire | Press release
Zycus, a global leader in cognitive procurement technology solutions, set another new milestone by announcing integration with Microsoft Azure OpenAI Service. This integration is a step towards an ongoing effort to build the world’s first generative AI powered S2P platform. This continuous engagement will harness the power of advanced AI to transform end to end source to pay processes, offering unprecedented efficiency, compliance, and ease of use.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240401357521/en/
Zycus launched world's first Generative AI powered S2P platform in collaboration with Microsoft (Graphic: Business Wire)
Zycus has already incorporated various Generative AI capabilities in the existing S2P Suite under the Merlin Assist offering. It is available both through an App published on Microsoft Teams and via Zycus web app.
“We are thrilled to partner with Microsoft. Many of our clients, global enterprises from across the world, have deployed Merlin Assist as part of our early access program and share very encouraging feedback on ease of use, compliance, and productivity. We are certain that sourcing & procurement will be fundamentally transformed in the months to come,” said Aatish Dedhia, Founder & CEO of Zycus.
Samik Roy, Executive Director, Corporate Medium and Small Businesses, Microsoft India said, “AI will transform the way individuals, teams and organizations work. Zycus has integrated Azure OpenAI to infuse AI into its S2P Platform. The quantitative impact is very encouraging. From personalized experiences to streamlined workflows, AI will start becoming the cornerstone of Zycus’ customers’ success.”
Some top use cases of Generative AI are enhancing the complete S2P process:
1. Efficiency and Time-Saving Innovations:
Harnessing the power of Azure OpenAI Service, Zycus can enhance the end-to-end procurement lifecycle, starting from swift recommendations of alternate suppliers to simplifying contract management with abstract language contract processing. Zycus has also built autoscore RFP capability that accelerates proposal evaluations. These innovations reduce manual efforts, saving valuable time and minimizing errors.
2. Enhanced Source Aggregation and Risk Assessment:
Zycus users are empowered with powerful source aggregation and tracking, combined with robust risk assessment. Azure OpenAI Service’s advanced algorithms process thousands of articles daily delivering a fourfold boost in article processing throughput. iRisk generates compliance-related questionnaires, easing the assessment process while offering strategic suggestions for mitigating identified risks. This approach streamlines compliance processes and delivers actionable strategies for enhanced predictive risk management.
3. Democratized Procurement via Microsoft Teams:
Zycus has seamlessly integrated its platform with Microsoft Teams to boost adoption. This integration makes procurement accessible to everyone. From policy adherence, extracting contract line items to comprehensive supplier response summaries and RFQ (Request For Quotation) questionnaire generation, all the features are built to continuously enhance user experience and get maximum ROI from the platform.
4. Precision-Driven AI Models for Informed Decisions:
The integration ensures more accurate, data-driven insights on alternative items, PR/PO summaries, and price trends, facilitating smarter purchasing choices procurement decisions, minimizing risks and optimizing outcomes.
“By combining the strengths of Azure OpenAI with Zycus’ native source to pay platform, we are setting a new standard in the industry. Our clients can now experience enhanced efficiency, risk management, and user engagement, driving procurement transformation at scale,” said Aatish Dedhia.
About Zycus
Zycus is a leading global provider of end-to-end Source to Pay solutions, pioneering in the space of cognitive procurement, powered by its advanced Merlin AI Suite. With a strong emphasis on transforming the procurement landscape, Zycus leverages Generative AI to offer innovative, AI-driven capabilities that streamline procurement processes, enhance decision-making, and foster strategic sourcing and supplier management.
To see the Microsoft and Zycus integrated platform in action, join us on April 9, 1 PM - 2:30 PM ET.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240401357521/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
From Network Automation to Agentic NetOps: NetBrain Sets the Standard for Deploying AI in Network Operations29.5.2026 15:00:00 CEST | Press release
Newest expansion of the NetBrain platform delivers Agent Skills, AI Path Doctor, MCP Server, and expanded cross-domain integrations, extending the agentic capabilities already running in production at hundreds of enterprises. NetBrain Technologies, Inc. today announced major new platform features that advance Agentic NetOps from an emerging category to operational reality. NetBrain's clients are already deploying agents that are diagnosing and remediating issues across complex multi-vendor enterprise networks. These new features further extend the platform with new agent tooling, cross-domain context, and open interfaces for the broader agentic enterprise. Early customer outcomes show the magnitude of the shift: A leading health insurer used NetBrain's Deep Diagnosis agent to diagnose and resolve a weeks old VPN connectivity issue in under five minutes. A large manufacturer resolved a critical device issue with a single prompt, isolating the root cause across the network path in under
Adtran resolves long-running patent litigation, reinforcing commitment to defend innovation29.5.2026 14:00:00 CEST | Press release
News summary: Non-practicing entity litigation continues to create costly, time-consuming pressure across the technology industry Adtran has reached a full settlement following counterclaims, with payment made to Adtran and all claims dismissed with prejudice Outcome reflects Adtran’s commitment to defend its innovations, customers and business against meritless patent assertions Adtran today announced it has resolved a patent litigation matter, resulting in a full settlement and dismissal of all claims with prejudice. The case, initiated in 2020 by a non-practicing entity asserting five patents, was transferred to the US District Court for the Northern District of Alabama in 2021 following a successful motion by Adtran. Adtran subsequently filed counterclaims, including bad-faith patent assertion under Alabama statutory law. The settlement includes payment to Adtran to resolve its counterclaims. Terms of the agreement remain confidential. “This outcome reflects a disciplined and consi
Meiji Seika Pharma Invests in GHIC’s Global Health Security Fund29.5.2026 13:00:00 CEST | Press release
Meiji Seika Pharma Co., Ltd. (Headquarters: Tokyo, Japan; President and Representative Director: Toshiaki Nagasato) today announced that it has committed to invest in the Global Health Security Fund (GHSF), which is sponsored by Global Health Investment Corporation (GHIC), a New York-based nonprofit organization. Through this investment, Meiji Seika Pharma will support the acceleration of innovations addressing critical global health challenges, including pandemic preparedness and antimicrobial resistance (AMR). GHIC is a mission‑driven nonprofit organization that deploys private investment strategies to generate both global health impact and financial returns. GHIC recently closed its second fund in GHSF. With more than a decade of experience investing in the field of infectious disease, GHIC has contributed to addressing major global health challenges. Its portfolio companies have successfully commercialized more than a dozen products, collectively reaching over 600 million people wo
IFF Enters Into Agreement to Sell Its Food Ingredients Business to CVC29.5.2026 12:50:00 CEST | Press release
Transaction advances portfolio transformation, sharpens focus on higher-growth, higher-margin businesses, strengthens balance sheet, and enhances value creation for shareholders IFF (NYSE: IFF), a global leader in flavors, fragrances, food ingredients, and health and biosciences, today announced that it has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners, a leading global private markets manager, in a transaction that values the business at approximately $4.3 billion, representing an enterprise value-to-EBITDA multiple of approximately 10x. As part of the transaction, IFF has chosen to retain an approximately 10% minority equity interest in the business, or approximately $200 million, permitting continued collaboration and cooperation between IFF and Food Ingredients and allowing IFF and its shareholders to participate in future value creation under its new ownership. The transaction marks a significant step in IFF’s portfolio tr
BeOne Medicines Establishes Standard for Long-Term Disease Control in CLL with BRUKINSA 78-Month Data at ASCO 202629.5.2026 12:00:00 CEST | Press release
Data represents the longest reported follow-up for a next-generation BTK inhibitor in CLL, showing sustained disease control and benefit that extends beyond first-line therapyBRUKINSA plus next-generation BCL2 inhibitor sonrotoclax (ZS) delivered deep, durable, and rapid uMRD responses, raising the bar for potential time-limited treatments in CLLData reinforce BeOne’s leadership in CLL and the strength of its foundational hematology franchise BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, is advancing the treatment paradigm in chronic lymphocytic leukemia (CLL) at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting. With extensive long-term follow-up, the SEQUOIA study of BRUKINSA® (zanubrutinib) reinforces its role as the foundational BTK inhibitor, showing sustained disease control over years of therapy. These findings are further supported by real-world evidence across three large analyses encompassing more than 250,000 pati
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom