Research Triangle Park, NC — May 2, 2003 — SciQuest, a provider of online purchasing solutions for the educational and research markets, this week launched the third generation of the company's flagship e-procurement application.
The provider said that its SelectSite offering provides a modular suite of procurement automation solutions that can help organizations improve their procurement systems and processes to reduce costs, improve productivity and manage enterprise spend.
SciQuest also announced that HigherMarkets, the company's procurement automation solution for higher education, has been migrated to the SelectSite technology platform.
According to SciQuest, this latest release of the SelectSite platform includes expanded supplier enablement options, allowing organizations to enable all their suppliers' catalogs, for each commodity group, in a hosted or punch-out format, and improved administrative controls for advanced user management and a configurable user interface. The updated version also includes shopping tools for comparing, selecting and requisitioning items, requisition approval routing and customizable workflow functionality.
SelectSite includes various modules that address various aspect of the procurement process, including Catalog Manager, which allows purchasing practitioners to promote preferred vendors and organizational "best buys" to end-users as they make purchasing decisions; Purchasing Assistant, which provides commodity-specific search, comparison and requisitioning tools; Requisition Manager, which automates approval processes and facilitates order consolidation; and Order Manager, which lets procurement departments create, manage and exchange purchase order documents with suppliers.
"Our clients are searching for solutions to specific business challenges, not a monolithic software system," said Jamie Duke, vice president of products, operations and strategy for SciQuest.
Currently 25 life science, higher education and industrial research organizations have implemented a SelectSite or HigherMarkets solution, according to SciQuest.