South Dakota Board of Regents honored with application adoption award from SciQuest; sees increased savings, improved efficiencies with software
Research Triangle Park, NC — March 28, 2006 — On-demand procurement automation and supplier management solutions provider SciQuest Inc. today said that the South Dakota Board of Regents' system has experienced success in its recent implementation of SciQuest's Sourcing Manager.
The Board of Regents, which includes six public universities and two schools serving special K-12 populations, marked the highest number of sourcing events in the first month of implementation in SciQuest history. During that time, South Dakota hosted over 120 solicitations for goods and services. To date, the South Dakota Board of Regents has posted nearly 200 solicitations and approved over 700 supplier registrations through Sourcing Manager.
With SciQuest's Sourcing Manager, we emerged from a cumbersome mostly paper-based process to an efficient online system, stated Darby Ganschow, director of Purchasing at The University of South Dakota. Since implementing, we have streamlined our procurement processing time and can now offer a much larger pool of vendors from which to purchase necessary goods and services.
SciQuest said its Sourcing Manager is an on-demand bid management solution that helps organizations achieve process efficiencies and cost savings over traditional paper-based bid processes. The solution streamlines the creation and issue of bid requests, supplier response submissions and awarding of bids.
Organizations also have the ability to conduct reverse auctions using Sourcing Manager, allowing suppliers to view the current low bid offered by competitors in real-time. In addition, Purchasing agents can expand the number of suppliers invited to bid, there by enhancing competition.
As a result of its success with Sourcing Manager, SciQuest recently awarded South Dakota with an award for Rapid Application Adoption. During a special dinner and banquet held during SciQuest's NextLevel 2006 event on February 20th, South Dakota received the award in recognition of its innovation and leadership in e-procurement.
Additional Articles of Interest
- — For more information on the current state of the sourcing market, see the article "The Analyst Corner: Sourcing" in the June/July 2004 issue of Supply & Demand Chain Executive.