SciQuest Inc., a provider of procurement automation and supplier enablement solutions, this week announced enhancements to its on-demand e-procurement and supplier enablement solution suite to further streamline the procurement function. Offered through the software-as-a-service (SaaS) model, this latest release includes new capabilities that further hone the intuitive, user-friendly e-procurement platform.
Jamie Duke, SciQuest's COO, said the enhancements included in this latest product release reflect the company's belief that the customer should always be at the center of the development process.
"The new features and functionality are the result of our continual dialogue with customers on how we can constantly improve our solutions and help them achieve even greater success," Duke said.
Some of the new features and functionality unveiled in the release include:
The Purchasing Showcase: The Purchasing Showcase makes it easier than ever for procurement departments to promote and direct spending towards preferred vendors. Prominently located on the application's homepage, the function makes vendor logos, product promotions, and service as well as product request forms readily available for quick access. Selecting from among available vendors with pre-negotiated contracts in place has never been easier. For suppliers, the resulting online marketing real estate and visibility provides even greater incentive to offer greater savings and value.
Invoice Workflow Capabilities: For procurement professionals, few tasks are as time-consuming as manually matching invoices to purchase orders to ensure accuracy and appropriate payment. New capabilities within SciQuest's solutions automate this process and significantly decrease the
number of invoices and credit memos that must be reviewed by accounts payable (A/P) personnel. As a result, SciQuest's customers gain a fast and easy solution to one of the most pressing challenges facing A/P departments: Discrepancies between invoices and purchase orders can amount to millions of dollars of over payments for organizations where thousands of invoices are submitted each year.
Search Features: This release includes expanded use of product images. When a user utilizes one of the many powerful search options within the company's solutions, product images are included directly in the results. This greatly improves the buying experience, makes users more self-sufficient and frees procurement professionals to assist customers on more strategic initiatives, such as providing assistance with big-ticket purchases.
Contract Management Enhancements: SciQuest's latest release further enhances the use of negotiated contracts across the entire organization. SciQuest Contract Manager seamlessly links purchase orders with their governing contracts and promotes available contracts for services and other non-product items directly in the search results, ensuring a high level of contract compliance. New graphical dashboards direct contract administrators to high priority activities, allowing a greater volume of contracts to be managed more effectively.
Customers automatically receive all enhancements following a training and in-parallel test period that ensures customers are familiar with new features and that any changes on the SciQuest network complement users' systems and processes. A customer-focused development process based on customer focus groups further ensures that all improvements reflect the direct input and evolving needs of procurement and financial leaders who rely on the company's solutions.