SciQuest Signs Record Number of New Higher Education Customers in 2009

CARY, N.C., Feb. 23 /PRNewswire/ -- SciQuest, Inc., the global software leader empowering enterprises to realize the potential of strategic procurement, today announced that the company achieved several key milestones in 2009. The leader for eprocurement and collaborative purchasing solutions in higher education, SciQuest welcomed more institutions to its growing customer base in 2009 than in any other year since the company's inception.  

The record number of institutions that selected SciQuest in 2009 included large multi-institution systems as well as colleges and universities of every size, including Bryn Mawr College, Duke University, the Inter-University Council of Ohio, Tulsa Community College, the University of California, the University of Missouri Health System, the University of North Carolina General Administration, and the University of Texas at Dallas.

"SciQuest has enabled the University of Missouri to save millions of dollars and, in that way, has proven to be an important contributor in our efforts to ensure that an exceptional and accessible higher education is available to all in Missouri," said William Cooper, associate vice president and chief procurement officer of the University of Missouri System Management Services. "From our work with SciQuest, it's clear that the company not only understands the challenges colleges and universities face, but offers proven solutions to overcome them."

Research shows that every new dollar of spend brought under management can yield cost savings of 5 to 20 percent, helping to offset budget shortfalls without impacting people and academic programs. In 2009, institutions of all kinds faced widespread budget reductions, declining endowments and unprecedented pressure to maintain or limit tuition increases. Amidst these conditions, the strategic approach to procurement SciQuest makes possible gained the attention of collegiate leaders not previously focused on procurement's unique ability to generate savings.

"Tough economic conditions over the past year reiterated to the highest levels that procurement can no longer be relegated to a paper-pushing role," said John Riley, president of the National Association of Educational Procurement (NAEP) and executive director of purchasing and business services at Arizona State University. "The ability of technology-empowered procurement departments to drive bottom line results can no longer be ignored, especially as spending on goods and services represents a quarter or more of the operating budget for most schools."

This past year was also marked with noteworthy achievements by SciQuest's customers and the release of industry-leading product functionality. Some of the many milestones reached in 2009 include:

• The University of Pennsylvania exceeded its four-year goal of saving $50 million through the strategic sourcing techniques SciQuest makes possible nearly 11 months ahead of schedule.
• Long-time SciQuest customers Rensselaer Polytechnic Institute and the University of Missouri received the NAEP's Excellence in Procurement Award for their role defining educational procurement best practices.
• SciQuest introduced and deployed solutions for consortia-buying communities that enable multiple institutions to easily and effectively consolidate their buying power, execute collaborative purchasing solutions and share procurement competencies for even greater savings. In addition, SciQuest unveiled new capabilities that enable group purchasing organizations to more effectively negotiate on behalf of their members.    
• SciQuest introduced and deployed solutions designed specifically for mid-sized schools that enable smaller procurement departments where staffing levels and resources, as well as the ability to overcome the administrative tasks associated with traditional paper-based procurement processes, are constrained.
• The company introduced a wide range of innovations that make it easier than ever for users to search for, find and purchase the items they need at the best price, while also furthering mission-critical goals, including sustainability and local economic development plans.  

The company also grew its longstanding partnership with E&I Cooperative Purchasing to further enable colleges and universities to attain the best prices on all goods and services, including SciQuest's technologies. In addition, the company also continued to work closely with enterprise resource planning (ERP) providers. SciQuest integrates seamlessly with all ERP systems.  

"This was a difficult year for colleges and universities, both public and private, large and small," said Stephen Wiehe, president and CEO of SciQuest. "SciQuest customers demonstrated in 2009 that no other business function is better positioned to drive bottom line results, not just at the institutional level, but across entire university systems. In the year to come, procurement departments that have the right technologies, people and processes in place will exert an unprecedented impact on higher education."

SciQuest is aggressively hiring for numerous positions in response to its continued growth. For more information, visit: www.sciQuest.com/company/careers/.

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 adoption and contract compliance 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.

SOURCE SciQuest, Inc.