SciQuest’s source-to-settle solutions to bring substantial cost savings to the institution

RESEARCH TRIANGLE PARK -- SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions, announced that the University of California San Diego (UC San Diego) has chosen SciQuest e-Procurement solutions to consolidate numerous procurement functions across the campus into one user-friendly system.

UC San Diego will ultimately implement SciQuest’s HigherMarkets application as well as the Contract Manager, Sourcing Manager, Settlement Manager and Supplies Manager modules, bringing all major procurement functions under a single managed solution called “Marketplace”.

“Not only will we have an automated process for sourcing through payment, but we will also have a solution that manages our suppliers, catalogs and contracts,” said Linda Collins, UC San Diego Director of Procurement and Contract Services.  “The resulting efficiencies, combined with strategic sourcing and process improvement initiatives, are expected to bring the UC San Diego campus community significant process and cost savings.”

Designed to manage the entire institutional procurement cycle – from requisitioning, approving and purchasing, to invoicing and settlement processing – HigherMarkets measurably improves organizational spend management through a user-friendly e-commerce style shopping interface.  Each related module in the suite of applications works in conjunction with each other to:

• Improve user adoption and productivity
• Promote contract compliance
• Reduce purchasing costs through source-to-settle process automation
• Streamline the purchasing cycle, allowing more time to be spent on supplier performance management and analytics
• Incorporate in-house inventories as part of catalog offering

“SciQuest’s expertise and the professional services they offer made us confident in our decision to implement the full suite of e-procurement solutions,” said Collins.  “Instead of managing many separate procurement processes and systems, we can now move forward with a consolidated solution based on SciQuest’s proven technology.  We strive to become a leader in procurement innovation and, ultimately, achieve best-in-class recognition.”

“UC San Diego is a true thought-leader in e-procurement and in finding new ways to cut costs for the institution through leveraged sourcing, process efficiencies and e-procurement technologies,” said Stephen Wiehe, President and CEO, SciQuest, Inc.  “We are pleased to be a part of this initiative and look forward to following the success of this implementation moving forward.”

About SciQuest, Inc.

SciQuest provides on-demand supplier enablement and procurement automation solutions that reduce operating costs, drive end-user adoption, bring more spend under management and increase visibility into organization-wide spending.  Through SciQuest solutions, organizations gain immediate cost savings and rapid ROI.

Organizations can quickly enable a critical mass of suppliers through the SciQuest Supplier Network (SQSN) and leverage SciQuest Managed Services to fully manage catalog data and order delivery on an ongoing basis, significantly reducing the need for in-house IT and support resources.  With an integrated supplier base, organizations can maximize on-contract spending and gain real-time visibility and reporting capabilities throughout the entire order process.

In addition to a source-to-settle suite of e-procurement applications, SciQuest also offers supplier and order management modules that seamlessly integrate with existing ERP and enterprise financial systems, driving greater return from existing investments.

For more information about SciQuest, please visit www.sciquest.com, or call 919.659.2100.

About UC San Diego

Since its founding just four and a half decades ago UC San Diego – one of the ten campuses in the world-renowned University of California system – has rapidly achieved the status as one of the top institutions in the nation for higher education and research.  With annual research funding of more than $650 million, UC San Diego ranks fifth in the nation and first in the UC system in federal R&D expenditures.  UC San Diego faculty and graduate programs have been ranked 10th best in the nation by the National Research Council. The campus, which enrolls more than 25,000 students, has one of the nation's highest percentages of faculty elected to the prestigious national academies.

For more information about UCSD, please e-mail Linda Collins at lcollins@ucsd.edu.