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SciQuest Announces Release of Enhanced Eprocurement and Supplier Enablement Solutions

2008-08-05 08:00:00

SciQuest Announces Release of Enhanced Eprocurement and Supplier Enablement Solutions

  New Features and Functionality Further Streamline the Leading On-Demand

 Platform for Automating the Purchasing Process from Sourcing to Settlement

    CARY, N.C., Aug. 5 /EMWNews/ -- SciQuest, Inc., the global leader

empowering enterprises to realize the potential of strategic procurement,

today announced enhancements to the company's on-demand eprocurement and

supplier enablement solution suite. The enhancements included in the August

3rd product release are designed to further streamline the procurement

function for SciQuest's customers. Offered through the

software-as-a-service (SaaS) model, product releases of SciQuest's

on-demand solutions are scheduled three times each year.

    This latest release includes new capabilities that further hone what

many deem to be the industry's most intuitive, user friendly and complete

eprocurement platform available. Some of the many new features and

functionality unveiled in the release include:

    -- The Purchasing Showcase: SciQuest's Purchasing Showcase makes it

easier than ever for procurement departments to promote and direct spending

towards preferred vendors. Prominently located on the application's home

page, the Purchasing Showcase makes vendor logos, product promotions, and

service as well as product request forms readily available for quick

access. Selecting from among available vendors with pre-negotiated

contracts in place has never been easier. For suppliers, the resulting

online marketing real estate and visibility provides even greater incentive

to offer greater savings and value.

    -- Invoice Workflow Capabilities: For procurement professionals, few

tasks are as time-consuming as manually matching invoices to purchase

orders to ensure accuracy and appropriate payment. New capabilities within

SciQuest's solutions automate this process and significantly decrease the

number of invoices and credit memos that must be reviewed by Accounts

Payable personnel. As a result, SciQuest's customers gain a fast and easy

solution to one of the most pressing challenges facing Accounts Payable

departments: Discrepancies between invoices and purchase orders can amount

to millions of dollars of over payments for organizations where thousands

of invoices are submitted each year.

    -- Search Features: SciQuest's latest release includes expanded use of

product images. When a user utilizes one of the many powerful search

options within the company's solutions, product images are included

directly in the results. This greatly improves the buying experience, makes

users more self-sufficient and frees procurement professionals to assist

customers on more strategic initiatives, such as providing assistance with

big-ticket purchases.

    -- Contract Management Enhancements: SciQuest's latest release further

enhances the use of negotiated contracts across the entire organization.

SciQuest Contract Manager seamlessly links purchase orders with their

governing contracts and promotes available contracts for services and other

non-product items directly in the search results, ensuring a high level of

contract compliance. New graphical dashboards direct contract

administrators to high priority activities, allowing a greater volume of

contracts to be managed more effectively.

    "The enhancements included in the latest product release reflect our

belief that the customer should always be at the center of the development

process," said Jamie Duke, chief operating officer at SciQuest. "The new

features and functionality are the result of our continual dialogue with

customers on how we can constantly improve our solutions and help them

achieve even greater success."

    SciQuest's customers automatically receive all enhancements following a

training and in-parallel test period that ensures customers are familiar

with new features and that any changes on the SciQuest network complement

users' systems and processes. A customer-focused development process based

on customer focus groups further ensures that all improvements reflect the

direct input and evolving needs of procurement and financial leaders who

rely on the company's solutions.

    "SciQuest's solution is already the industry's most intuitive and

user-friendly eprocurement platform and, when you add in the related

support services, the combination is extremely supportive of our

procurement and business needs," said John Mayes, associate vice president

and chief procurement officer at Yale University, a SciQuest customer since

2002. (Mayes is also the former manager of IT for the Yale School of

Medicine.) "From an IT management perspective, it's crucial that upgrades

and new releases be managed with customers' needs in mind. The process

SciQuest follows is extremely well managed and results in a collaborative,

effective and virtually transparent maintenance exercise."

    SciQuest's product development initiatives and process for new releases

contributed to a 100 percent subscription renewal rate in 2007 for the

company's on-demand solutions-an unheard of feat in the software industry

that underscores SciQuest's focus on customer service and satisfaction.

    About SciQuest

    SciQuest's procurement automation and supplier enablement solutions

empower leading organizations to realize the potential of strategic

procurement. The company's specialized knowledge, on-demand software, and

service-first approach enable public and private enterprises across the

globe to manage spend, drive ROI, and advance their critical missions.

    SciQuest's deep understanding of its served vertical markets combined

with a broad supplier network and intuitive, online shopping experience

increase user and contract adoption while improving operational

efficiencies. Through software-as-a-service (SaaS) deployment,

organizations can quickly implement the right eprocurement solution to

augment existing ERP investments or fully enable all aspects of purchasing

from sourcing to settlement.

    For more information about SciQuest, please visit or call 877-710-0413 in the U.S. or +44 1794 341182

in Europe.

    SciQuest is a registered trademark of SciQuest, Inc. Other trademarks

contained herein remain the property of their respective owners.

SciQuest media contact: Ken Phillips Davies Murphy Group 781-418-2437 [email protected]

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