Emirates NBD switches to Zycus eSourcing and Contract Management

DUBAI: Zycus, a world leader in procurement technology solutions across the source-to-pay cycle, announced today that Emirates NBD will adopt its eSourcing and Contract Management Solutions.

Having celebrated its 50th anniversary in 2013, Emirates NBD’s vision is to be globally recognised as the most valued financial services provider based in the Middle East. At present, the bank has operations across the UAE, Egypt, Saudi Arabia, Qatar, Singapore, the United Kingdom, and has representative offices in India, China and Indonesia.

“Electronic Sourcing (eSourcing) is a well established practice in our enterprise procurement group,” notes Abdullatif Albastaki, Head of Procurement and Realty Services for Emirates NBD. “eSourcing enables our strategic sourcing team to be exceptionally efficient in running competitive sourcing events that achieve consistently favorable and best-possible market outcomes in terms of pricing, terms and performance commitments from our suppliers.” “The switch to Zycus is mainly a function of user interface and ease of use. Ahead of the expiry of our existing eSourcing solution contract, we were keen to find a solution that would be comparable in features, but better designed and much easier to use. We found that solution in Zycus, which also offered a well integrated Contract Management solution that enables us to extend our team’s efficiency and effectiveness from event creation, RFx and negotiation all the way through the entire contract management and approvals process with suppliers,” Albastaki added.

“When advanced sourcing organisations switch to Zycus, their decisions are virtually always a function of ease of use and sourcing process integration,” observes Aatish Dedhia, founder and CEO of Zycus. “Like so many others, the Emirates NBD story validates Zycus’ core value of delivering simple solutions for complex problems.

“The source-to-contract process is exceedingly complex with many moving parts and players. It is only a ‘solution’ when you can make the process faster, cleaner and more consistent in terms of positive business outcomes. At the end of the day, we want procurement professionals and all who collaborate with them to be able to say, ‘Yes, that made my job easier while helping us to improve business performance in some big way,’” Dedhia concluded.