Zycus’ product suite helps Filipino businesses streamline processes, improve transparency, and reduce risks, leading to significant cost savings and other benefits
Procurement is beginning to ride the waves brought by digitalization and even the green movement to businesses. Even the Philippine government itself sees the need to fully digitize public procurement.
Last July, Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman said that the department’s Procurement Service seeks to institute “an efficient procurement system incorporating global best practices, including the complete digitization of all government procedures.”
Alongside this need to make procurement digitalized is also an imperative to make it sustainable.
“Green procurement is synonymous with responsible procurement. The integration of green solutions into the public procurement process brings us a step closer to our ultimate aim of promoting sustainable management and utilization of natural resources by 2030,” Ms. Pangandaman said.
As much as businesses embrace digitalization and sustainability, how are they factoring these into procurement?
Here are a few procurement hurdles faced by the Philippines business landscape:
Diverse Business Framework: The Philippines grapples with a multifaceted business environment. Numerous laws and regulations—more than a hundred in total—govern the procurement domain. This complexity can pose challenges for conglomerates, making it demanding for them to grasp and adhere to these intricate rules.
Transparency and Accountability Deficit: Procurement processes in the Philippines frequently lack transparency and accountability, breeding an environment susceptible to corruption and favoritism.
Inefficiency and Delays: The procurement journey in the Philippines is often sluggish and inefficient, potentially hindering the timely delivery of vital goods and services to the public.
Scarcity of Proficient Procurement Professionals: There’s a noticeable scarcity of skilled procurement experts in the Philippines, which can lead to suboptimal decision-making and a deficiency in the capacity to manage complex procurement ventures.
The Need for eProc Solutions: In addition to these challenges, the absence of modern eProcurement solutions has been a pressing concern for many conglomerates, hindering their ability to streamline and digitize their procurement processes effectively.
Zycus’ extensive product suite offers a strategic solution to help Philippines’ leading conglomerates bridge these procurement gaps and elevate their procurement processes. Covering the entire source-to-pay spectrum, from strategic sourcing to contract management to operational procurement, here are some concrete ways Zycus’ product suite can be instrumental:
Zycus’ Spend Analysis solution: Empowers organizations to pinpoint areas for potential spending reductions by analyzing historical spending data and identifying trends.
Zycus’ eSourcing solution: Streamlines and automates the sourcing process, leading to cost reductions and improved cycle times.
Zycus’ Contract Management solution: Facilitates effective contract management, minimizing risks and ensuring contract compliance.
Zycus’ Supplier Management solution: Enhances the management of supplier relationships, elevating the quality of procured goods and services.
Zycus eProc Solutions: Zycus recognizes the critical need for modern eProcurement solutions and offers a comprehensive suite that includes eProcurement tools, enhancing efficiency, transparency, and control of the procurement process.
Zycus’ product suite is suited to cater to various sectors in the Philippines, including conglomerates and private enterprises. Some of the notable benefits that can be realized through Zycus include:
Cost Savings: Zycus can empower Philippines’ leading conglomerates to save substantial sums by streamlining their procurement processes and negotiating favorable supplier agreements.
Enhanced Efficiency: Zycus will be able to play a pivotal role in boosting the efficiency of procurement processes by automating manual tasks and offering real-time visibility into the procurement pipeline.
Risk Mitigation: Zycus can be instrumental in risk reduction by ensuring compliance with all applicable laws and regulations governing procurement.
Interested in learning more about how Zycus can transform your organization’s procurement landscape? Request a demo today
Join Us at PLAN 2024: We’re excited to invite you to our upcoming flagship event, PLAN 2024, where industry leaders and experts will converge to explore the future of procurement and how technology is reshaping the landscape. Don’t miss this opportunity to gain insights, network with peers, and discover the latest innovations in procurement. Register today to secure your spot!
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld website. For more information, send an email to email@example.com.