Medius can integrate a company’s ERP and supporting systems. It launched its AP automation software in 2013, specialising in automation, procurement, sourcing, and contract and supplier management. Swedish company Medius was founded in 2001 and now trades in 102 countries. This offers data-driven actionable insights for quicker and smarter decisions. Zycus has been recognized by Gartner, Forrester, and other analysts for its S2P integrated suite. It caters to sectors including: automotive electronics energy and utilities and health care and pharmaceuticals. Its solution also allows enterprises to reduce risks and boost compliance, while its simple UI promotes a high adoption rate across organisations. Zycus prides itself on being “the pioneer in cognitive procurement”. It is AI-based technology that drives value generation across organisations. Zycus is a pioneer in ‘cognitive procurement software’, and has been a partner of choice for large global enterprises for two decades. “Having the right data available, at the right time, and knowing what to do with it, is the critical modern-day challenge,” the company says. It also consolidates data across different systems, giving a better understanding of supplier spend. The solution uses AI and anomaly detection to prevent such losses. The company says that for every £100mn spent, £1mn is lost in fraud or overpayment errors. Xelix is AI-powered software that sits alongside existing finance systems, acting as an intelligence layer to automate processes, spot payment risks and to deliver meaningful insights Xelix is a British company that was founded in 2015. With software doing so much of the heavy lifting, procurement has more capacity to focus on being strategic. Plus, employees can easily create purchase orders subject to review and approval by managers. They can automate the process of resource acquisition and supplier relationship management. Software solutions help automate the purchasing process and manage activities related to an organisation's expenditures. As a result, procurement software has never been more important.

That has all changed, with CPOs having much more clout in the boardroom. Pre-pandemic, procurement was a cost-control centre with little perceived strategic importance.

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