CARY, N.C.--(BUSINESS WIRE)--SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand strategic procurement and supplier management solutions, today announced that 12 Wisconsin technical colleges will implement the company’s on-demand eProcurement solutions to create a more effective purchasing consortium. The colleges will utilize SciQuest to better control and automate the purchasing process for each school, driving improved spend savings and increased buying power across the entire consortium.
The 12 technical colleges are members of the 16-school Wisconsin Technical College System Purchasing Consortium, which facilitates cost-effective procurement by providing a central source of information about products and services, identifying opportunities for collaborative procurement, negotiating state-wide contracts with vendors and providing effective contract administration. The Consortium schools have an annual operating budget of $791 million.
SciQuest provides an intuitive shopping experience and helps ensure the lowest total cost of goods purchases and contract compliance across a list of pre-approved vendors. Three of the larger schools, including Madison Area Technical College, Milwaukee Area Technical College and Northeast Wisconsin Technical College, will utilize SciQuest Spend Director Premium Express, which will be integrated with existing ERP systems. The nine other schools, including Blackhawk Technical College, Chippewa Valley Technical College, Gateway Technical College, Mid-State Technical College, Moraine Park Technical College, Northcentral Technical College, Southwest Wisconsin Technical College, Waukesha County Technical College and Wisconsin Indianhead Technical College, are implementing the SciQuest Spend Director Express as a standalone module. SciQuest believes the schools will benefit from contract sharing, resulting in more purchasing choices, significantly streamlined procurement processes and improved regulatory compliance.
“These 12 technical colleges control 80 percent of the consortium’s spending power, so implementing a proven, intuitive eProcurement solution that can scale to multiple school sizes was critical to the success of the project,” said Bob Anderson, director, Wisconsin Technical College System Purchasing Consortium. “SciQuest will provide each school with visibility into how much is spent, on what product and with which vendor, helping ensure more control over the entire purchasing process. The schools can now make purchases in one single, SciQuest-powered marketplace of approved vendors, driving down purchasing costs, promoting regulatory compliance and improving operational efficiencies.”
SciQuest will enable the schools to more effectively manage procurement card (P-Card) programs, helping reduce rogue or non-contract spending. The schools will also be able to analyze spend data to identify the most reliable, low-cost suppliers and disseminate this information across the Consortium. With SciQuest’s system-level functionality, the schools will be able to collect spend across the various schools to better negotiate contracts with new and existing vendors.
“The SciQuest eProcurement solution will empower the technical colleges with more vendor contracts and more efficient purchasing processes than they would have attained as a single entity,” said Ed Noehre, director of finance/controller at Madison Area Technical College. “Sharing contracts across schools will increase the buying power of the entire Consortium, helping reduce purchasing and transactions costs. We look forward to realizing the full benefits of the SciQuest end-to-end eProcurement solution.”
“Like most industries, higher education is facing budget and funding cuts that are forcing schools to analyze spending at even deeper levels,” said Max Leisten, market director for higher education at SciQuest. “SciQuest will provide these 12 technical colleges with a unique consortia functionality that enables the easy roll up of spend, facilitating cost savings across the entire system. In addition, our eProcurement solutions are ERP neutral, designed to provide seamless integration with existing technologies and help to ensure that our customers realize spend saving benefits almost immediately.”
About SciQuest
SciQuest (NASDAQ: SQI) is a leading provider of an integrated, web-based end-to-end eProcurement solution that enables users to realize significant efficiencies and savings on their purchases of indirect goods and services. SciQuest’s unique industry segment expertise and innovative “source-to-settle” approach to eProcurement enables Fortune 1000 companies and organizations in the higher education, life sciences, healthcare and public sector markets, as well as other industries, to identify savings opportunities they may otherwise have missed, while improving contract management, compliance and supplier management. SciQuest’s solutions help customers turn spending into a source of savings.
SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners. For more information about SciQuest, please visit www.sciQuest.com or call 888-638-7322 in the U.S. or +44 1794 341182 in Europe.
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