Zycus' Automated Classification Solution Helps Covisint Embrace UNSPSC
SANTA CLARA, Calif.--July 23, 2002--Zycus' AI Driven UNSPSC Classifier to Help Leading Automobile
Companies in Tracking Spend and Rationalizing Purchasing Costs
Zycus, the leader in Artificial Intelligence driven automated spend analysis and product content management solutions, today announced that Covisint, the global independent ebusiness exchange for the automotive industry, has selected Zycus for automatically classifying catalog content from the suppliers of top automobile companies into UNSPSC, the global product and services classification standard. Zycus' automated UNSPSC classification and content transformation solutions will help Covisint trading partners like Ford, GM, Daimler Chrysler and others to rapidly assign UNSPSC code to their supplier catalogs, thus enabling expenditure analysis, catalyzing supplier enablement and ensuring superior product awareness and discovery.
A rapid ramp-up in UNSPSC adoption would help Covisint's trading partners to accurately track and analyze catalog spending by classifying their supplier catalogs into UNSPSC, and thus realize greater, accelerated ROI benefits. UNSPSC (United Nations Standard Products and Services Code), a worldwide classification system developed in 1998 by the United Nations and Dun & Bradstreet, is an open, global electronic commerce standard that provides a logical framework for classifying goods and services. It allows commodities and products to be properly and uniquely classified, so that companies can track purchasing patterns more efficiently, ensure contract compliance, and pave the way for superior catalog search. The hierarchical structure of UNSPSC allows drilling down and rolling up, which is integral for tactical and spend analysis. It is a global standard and freely available to the public with no copyright protection issues - which has led to its widespread adoption all around the world.
Zycus' AutoClass, the AI based fully automated UNSPSC classifier, would power Covisint's rapid embrace of UNSPSC. Highly accurate (greater than 90%), AutoClass works at the remarkable speed of more than 60,000 SKUs or transaction records per hour per machine, replacing tedious manual coding while improving costs and accuracy. It's built-in UNSPSC libraries and embedded domain intelligence minimizes ramp-up time, and a flexible mapping schema ensures easy mapping of supplier's schema with UNSPSC. AutoClass is language independent -- for Covisint, Zycus would be classifying supplier catalogs in multiple languages like French, German, Italian, Spanish, Portuguese and Japanese, which would help Covisint roll out UNSPSC adoption on a global scale.
Aatish Dedhia, CEO, Zycus Inc. said, "We are pleased to be working with a global leader such as Covisint. UNSPSC is fast emerging as an accepted standard across the world for performing meaningful searches and precise analysis. The classification of inventory as per UNSPSC codes will allow buyers of Covisint to make enlightened purchase decisions, thus helping them realize greater ROI. The deployment of AutoClass will help Covisint automate the classification process thus reducing turnaround time. In addition, AutoClass' ability to support multiple languages will be an added benefit for Covisint considering its area of operations."
"One of Covisint's roles is to drive the industry toward standards," said Mark Duhaime, senior vice president and general manager, Strategic Sourcing for Covisint. "Our relationship with Zycus will enable us to help our customers deploy their catalog activities faster and more efficiently, speeding their ability to generate revenue through Covisint."
Covisint is the technology company whose business-to-business products and services connects and enables the global automotive industry to reduce costs, increase efficiency, enhance quality and improve time-to-market. Covisint was founded by DaimlerChrysler, Ford, General Motors, Nissan, Renault, Commerce One and Oracle. Since its inception, PSA Peugeot Citroen has also joined the initiative. Covisint has headquarters in Amsterdam, Tokyo and Southfield, Michigan and offices in Frankfurt, Paris and Brazil. For more information about Covisint, www.covisint.com.
About Zycus
Zycus is a leading provider of Artificial Intelligence-based automated Spend Analysis and Product Content Management solutions. Apart from helping organizations make better sourcing decisions, Zycus is focused on providing industrial strength solutions for product content management. All Zycus solutions have comprehensive support for UNSPSC, the leading global standard for product and services classification. Zycus solutions include IntelliSpend, an automated spend analysis solution; AutoClass, an AI driven automated UNSPSC classifier; CatSummit, an enterprise catalog management solution; Zycat Content Refinery, a fully outsourced catalog enrichment service; and CatSearch, a fuzzy logic search engine.