MRO Magazine

SciQuest Expands Spend Automation Suite with New Contract Management, Mobility and Value Analysis Offerings


July 20, 2015
By Business Wire News

MORRISVILLE, N.C.

SciQuest, Inc. (Nasdaq: SQI), a leading provider of cloud-based business automation solutions for spend management, today announced enhancements to its spend automation suite to provide procurement professionals with increased flexibility, control and powerful analytics tools that can be accessed on mobile devices. Control of spend management and critical workflow processes can be accessed instantly to improve spend management, tighten sourcing and increase productivity throughout the contract lifecycle.

Expanding on its comprehensive, modular, source-to-settle suite, SciQuest’s latest release gives its customers the flexibility, transparency and ease-of-use offered through the following tools:

  • Total Contract Manager is a new solution that helps clients optimize the entire lifecycle of their contracts. The benefits begin with a single contract repository that is integrated on SciQuest’s source-to-settle platform and continue throughout the authoring, negotiation, approvals and execution of contracts. Total Contract Manager leverages a free Microsoft Word® app which gives end users a familiar user interface ensuring rapid adoption.
  • eProcurement mobile app enhancements put the power of spend management in the procurement practitioner’s hands, featuring single-sign-on support to facilitate fast and secure approvals on iOS and AndroidTM devices.
  • New Sourcing Director features allow clients to expand control and management of the sourcing process. Practitioners can now assign a weight to quality and price to analyze and determine “best value.” Reverse auctions (currently in beta) allows clients to setup and execute auctions and then evaluate results using existing Sourcing Director features.

“We are similar to many organizations that must manage hundreds, if not thousands of contracts with a variety of vendors and partners, which all have different terms, conditions and nuances,” said Bonnie M. Sutphin, associate director for operations at Virginia Tech’s Procurement Department. “Replacing a basic relational database with SciQuest’s Total Contract Manager is allowing us to improve our contract visibility and significantly simplify workflows to continue to drive efficiencies throughout our organization.”

Additional noteworthy enhancements include:

  • A new Quick Quote request wizard that saves time and resources with simplified requisition process.
  • Enhanced reporting and ToolTips functionality to help practitioners avoid confusion and mistakes by providing buyers with additional information.
  • Expanded international language support with the addition of Polish as a new supplier language in Advanced Sourcing Optimizer. Current supported languages include: English, French, German, Spanish, Polish, Simplified Chinese, Brazilian Portuguese and Russian.

“It’s no secret that managing corporate spend is becoming increasingly complex, encompassing a rapidly evolving set of variables,” said Eric Zoetmulder, vice president of product management at SciQuest. “With the latest release, our clients can see the totality of spend from a comprehensive easy-to-use single platform, and can perform critical process steps on any device at any time, helping them to better control overall sourcing and spending.”

The new version of SciQuest’s spend automation suite is available immediately. For more information, please visit www.SciQuest.com.

About SciQuest

SciQuest (Nasdaq: SQI) spend management solutions enable procurement, sourcing and financial professionals to focus on strategic decisions that transform business processes. Our feature-rich products and expert services help hundreds of organizations, including leading global companies, drive bottom line results by improving, automating and optimizing their source-to-settle processes.

Learn more about our solutions and how we can help your organization turn spending into savings at http://www.sciquest.com.

To join the conversation, please visit our blog at http://www.sciquest.com/blog or follow us on Twitter @SciQuest.

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iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license. Microsoft Word is a registered trademark or trademark of Microsoft Corporation and/or other countries. Android is a trademark of Google Inc.

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks are discussed in “Part I, Item 1A, Risk Factors” and elsewhere in SciQuest’s most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission (“SEC”). The company’s SEC reports are available free of charge on the SEC’s website at http://www.sec.gov or on the company’s website at http://www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

SciQuest Media contact:
SciQuest, Inc.
Roberta Patterson, 919-659-2230
rpatterson@sciquest.com
or
Edelman for SciQuest, Inc.
Megan Smith, 404-832-6776
Megan.Smith3@edelman.com
or
SciQuest Investor contact:
SciQuest, Inc.
Jamie Andelman, 919-659-2322
jandelman@sciquest.com