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Texas State University-San Marcos Selects SciQuest

Posted on: Wednesday, 3 June 2009, 08:00 CDT

University to Implement SciQuest's Full Suite of Eprocurement Solutions to Generate Efficiencies and Achieve Even More with Taxpayers' Dollars

CARY, N.C., June 3 /PRNewswire/ -- SciQuest, Inc., the global leader empowering enterprises to realize the potential of strategic procurement, today announced that Texas State University-San Marcos will implement the company's full suite of eprocurement solutions as part of the University's steadfast efforts to generate savings and achieve more with taxpayers' dollars. The University joins seven other prestigious Texas-based collegiate institutions in SciQuest's rapidly growing customer base, which includes leaders in education, government, healthcare and the life sciences.

"Our implementation of SciQuest will enable Texas State to aggregate its buying power, eliminate costly paper processes and create a transparent system that empowers us to achieve more with every dollar," said Jacque Allbright, director of purchasing at Texas State University. "The transformation of our procurement processes is one of the many steps we are taking to ensure that an exceptional undergraduate, graduate and doctoral education remains accessible in Texas."

Allbright credits SciQuest's track record of serving colleges and universities of all sizes, the strong endorsements of current customers, and the cost-effective nature of the company's on-demand solutions as differentiators that contributed to the Texas State University System Board of Regents' decision to implement the new system. Scheduled for deployment later this year, the system will integrate with the University's financial system of record, an SAP enterprise resource planning system.

"Spending on goods and services is the one variable component of the budget that institutions can leverage without impacting staff and academic programs, yet most lack real-time visibility into these significant budget outlays," adds Allbright. "It's absolutely critical to bring spending on goods and services under management in order to create the complete financial picture required to maximize existing resources."

All departments within Texas State will utilize the new system, which will enable users to shop online with preferred suppliers in electronic catalogs or "punch-out" to suppliers' Web sites in an environment similar to that found on popular e-commerce sites. The SciQuest implementation methodology enables the University to phase-in catalogs over time to allow for an orderly transition from current procurement processes. SciQuest will provide real-time visibility into spending, giving procurement and financial leaders immediate access to the information they need to aggregate the University's buying power, negotiate more favorable terms and conditions with suppliers, and free faculty and staff from administrative tasks typically associated with paper-based procurement processes.

"Texas State University-San Marcos' decision to proactively transform its procurement processes offers a singular example of exceptional financial stewardship," said Stephen Wiehe, president and CEO of SciQuest. "It's no secret that the majority of the nation's colleges and universities continue to face significant budget challenges. Texas State's investment in procurement reform represents a long-term, sustainable approach to contain costs that will enable the University to achieve more with its resources."

Most analysts agree that the ability to bring spending on goods and services under management--which modern eprocurement technology makes possible--generates savings of between five and 20 percent on everything an institution buys. On average, colleges and universities that use SciQuest achieve a complete return on investment within one year of implementing the company's solutions.

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 www.sciQuest.com 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 sciQuest@daviesmurphy.com

SOURCE SciQuest, Inc.

Source: PR Newswire

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