Morrisville, N.C.—August 27, 2014—SciQuest, Inc., a provider of cloud-based business automation solutions for spend management, announced that Danish State Railways (DSB) went live with SciQuest’s Contract Director solution to automate and standardize the management of more than 12,000 contracts. Carrying more than 195 million passengers each year, DSB is the largest train company in all of Scandinavia, and can use SciQuest to improve the contracting process and set a new company-wide best practice for enterprise contract management.
Over the past decade, DSB underwent a massive transformation from a government department to an independent, public state-owned company. During that transition, emphasis was placed on efficiency and cost reduction. As a part of the reorganization, officials realized that contracts were being managed by multiple business units across the organization, leading to waste and confusion. DSB chose SciQuest to automate the contract management process, creating a common approach to for all contracts.
As a result, DSB can:
- Create a central contract repository.
- Reduce time to create contracts through the use of templates and online collaboration.
- Identify and prevent overcharges and off-contract spending.
- Fulfill contractual commitments on time with alerts and reminders.
- Enforce policies and reduce maverick contracts.
- Ensure an audit trail and strong security.
The implementation included conversion of thousands of existing procurement agreements from three old legacy systems into Contract Director, as well as an interface to DSB's enterprise resource planning (ERP) system to manage master data for more than 2,000 suppliers and customers.
“The absence of good tools for contract management can create issues at every step in the contract lifecycle, from authoring and negotiation to management and end of life,” said Mark Digman, senior vice president of marketing, SciQuest. “DSB recognized the need to standardize and automate contract lifecycle management across the organization. We look forward to working with DSB to help them turn spending into a strategic source of savings.”