California Institute of Technology Chooses SciQuest’s Suite of E-Procurement Solutions to Improve Purchasing Process and Achieve Complete Spend Visibility
HigherMarkets E-Procurement Solution to Complement the Institution’s Existing Investment in Oracle Financials
RESEARCH TRIANGLE PARK, N.C., October 19, 2004 – SciQuest, Inc. announced today that the California Institute of Technology (Caltech) has signed a multi-year agreement for the HigherMarkets e-procurement solution to enhance its existing Oracle Financials system. The University will implement the complete suite of HigherMarkets modules including Spend Director, Requisition Manager, Order Manager and Science Catalog.
“The HigherMarkets one-stop shopping experience is a tremendous improvement from our current processes and will improve the focus of our research community by allowing them to purchase products and services quickly and easily with one or two clicks,” said Bill Cooper, director of procurement services for Caltech. “In addition, the solution provides administration with the necessary tools to increase spend visibility across the organization. As a result, we expect to achieve significant cost-savings in administration and contract compliance as well as key process savings by electronically enabling the purchasing process.”
Caltech will utilize SciQuest’s HigherMarkets on-demand procurement solution, which is designed to meet the unique needs of colleges and universities seeking to enhance purchasing processes to reduce costs, improve productivity and increase visibility into organizational spend. As part of the implementation Caltech will enable 30 of its key suppliers with Caltech pricing and contracts.
By seamlessly connecting procurement processes with suppliers’ systems, SciQuest solutions reduce fulfillment times and maximize visibility throughout the source-to-settle process. SciQuest’s on-demand, flexible architecture enables organizations to design tailored solutions that seamlessly integrate with existing enterprise systems to achieve organizational objectives and ensure a speedy return on investment.
“We are pleased to provide the solutions that Caltech needs in order to optimize their strategic procurement initiatives,” said Stephen Wiehe, president and CEO of SciQuest. “SciQuest is an optimal solution for organizations like Caltech who are looking for a greater return on their ERP investment.”
About SciQuest
SciQuest’s on-demand solutions integrate organizations with their suppliers to enable comprehensive spend management for the life sciences and higher education markets.
SciQuest’s complete suite of modular applications help to automate the source-to-settle process. When used with the SciQuest Supplier Network, these solutions reduce redundant tasks and maintain data integrity throughout the cycle of finding, acquiring and managing goods to increase efficiency, reduce cost and provide total spend visibility.
Many of the world’s leading pharmaceutical, biotechnology, chemical and academic organizations rely on SciQuest solutions such as Biogen Idec, GlaxoSmithKline, Pfizer, Roche, Schering-Plough, Arizona State University, Indiana University, University of Michigan and University of Pennsylvania. SciQuest is headquartered in Research Triangle Park, N.C. For more information about SciQuest, please visit www.sciquest.com or call +1-919-659-2100.
SciQuest and SelectSite are registered trademarks of SciQuest, Inc. HigherMarkets is a trademark of SciQuest, Inc.
Contacts:
| Media Relations | |
| Kristi Lee SRK Communications 919-270-8054 kristi@srkcommunications.com |
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