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As a highly regulated financial institution based in Nicosia, Cyprus (EMEA region), Bank of Cyprus needed a procurement transformation to eliminate manual inefficiencies, meet European Central Bank (ECB) compliance, and streamline sourcing and contract management.
At Horizon Europe 2024, Zycus’ flagship event, George Charalambous, Enterprise Sourcing & Procurement Analyst, shares how Zycus’ AI-driven automation revolutionized their procurement, eliminating manual data entry, enhancing compliance, and accelerating operations.
Why Zycus?
- Regulatory Compliance Made Easy – AI-powered contract scanning & risk assessment for ECB reporting
- Seamless Sourcing & Contracting – End-to-end automation, eliminating paperwork & inefficiencies
Business Impact:
- 100% Automated Invoice Processing – Reduced accounts payable team from 10 to 2 employees
- Automated compliance tracking for 100+ regulatory data points
- Faster approvals & sourcing cycles, ensuring smooth operations
