SciQuest, Inc., a leading provider of on-demand strategic procurement and supplier enablement solutions, announced the availability of HigherMarkets™ Express for Banner, a suite of eprocurement solutions with similar functionality to HigherMarkets for Banner, but designed specifically for mid-sized institutions, that integrates with SunGard Higher Education's Banner Finance. HigherMarkets Express for Banner enables schools to realize the proven benefits of a strategic approach to procurement while increasing the value of existing systems.
"It has never been more important for mid-sized institutions to put the systems in place required to proactively engage in any and all opportunities to extend the value of existing resources," said Dr. Betty Roberts, vice president of administration and finance at the University of Central Missouri. "Mid-size colleges and universities, like large institutions, need cost-effective and easy-to-use business systems to gain visibility over spending on goods and services, put strategic sourcing agreements in place, drive contract compliance, and bring procurement to the desktop."
Procurement leaders at mid-sized schools often lack the resources required to transform procurement from a processing function into a source of efficiencies and savings. Although spending on goods and services dramatically impacts institutions' financials, most eprocurement solutions are not pre-configured to integrate with enterprise resource planning systems without adding steps to the purchasing process or the use of bridge technologies. HigherMarkets Express for Banner provides a best-in-class, turnkey eprocurement solution that can be seamlessly integrated with Banner Finance, your financial system of record, helping make it easier than ever to immediately benefit from the cost savings and visibility over spending gained through a more strategic approach to procurement.
"Through SciQuest and SunGard Higher Education, we are able to put proven user-friendly purchasing tools directly into the hands of every requisitioner within the college," said Tom Fogarty, executive director, procurement and business services, at HACC - Central Pennsylvania's Community College. "If you can purchase the same goods and services for less through strategic procurement systems and sourcing techniques, the savings quickly add up to significantly impact the bottom line."
With integration jointly designed and developed with SunGard Higher Education, SciQuest's 2010 Partner of the Year, mid-sized schools running Banner Finance can now put a strategic procurement operation in place with HigherMarkets Express for Banner.
"We are always looking for advancements that help our customers to overcome real-world business challenges," said Dave Becker, vice president of product management and strategy, finance and HR at SunGard Higher Education. "HigherMarkets Express for Banner helps financial staff gain a complete understanding of how an institution's funds are being used in a wide range of capacities, including the purchase of goods and services by faculty and other staff. The resulting complete and accurate financial picture is very helpful."
HigherMarkets Express for Banner provides: An on-demand, end-to-end eprocurement solution designed for fast and easy deployment with small procurement and IT staffs. High user adoption through a Web-based shopping environment similar to that enjoyed on popular e-commerce sites. An online private marketplace featuring the school's preferred suppliers and contracts presents users with a welcome alternative to time-consuming, paper-based procurement processes and quickly fosters the broad-based user adoption required to bring spending under management and increase contract compliance. Enterprise-wide visibility into spending that makes the entire purchasing process transparent and gives financial leaders the insight they need to utilize strategic procurement and sourcing techniques. Instantaneous integration with Banner Finance and financial systems of record without requiring any changes to existing protocol. An easy-to-manage, low-cost solution that enables suppliers in the online marketplace, and eliminates the need for IT involvement to continually maintain and update supplier data that traditional procurement technologies require.
"Mid-sized universities and community colleges face the same financial challenges as larger institutions, where procurement reform has emerged as a sustainable alternative to budget cuts," said Stephen Wiehe, president and CEO of SciQuest. "HigherMarkets Express for Banner helps make it easier for schools with limited resources to bring their spending under management and apply the resulting intelligence to all financial decision making."
Roberts presented "Revolutionizing Procurement at UCM," at the annual SunGard Summit user conference held two weeks ago in San Francisco. For more information, visit http://www.sciquest.com/sungard. About SciQuest SciQuest provides a leading on-demand strategic procurement and supplier enablement solution that integrates customers with their suppliers to improve procurement of indirect goods and services. Our on-demand software enables organizations to realize the benefits of strategic procurement by identifying and establishing contracts with preferred suppliers, driving spend to those contracts and promoting process efficiencies through electronic transactions. Using our managed SciQuest Supplier Network, our customers do business with more than 30,000 unique suppliers and spend billions of dollars annually.
Our current target markets are higher education, life sciences, healthcare and state and local governments. We tailor our solution for each of the vertical markets we serve by offering industry-specific functionality, content and supplier connections. We serve more than 160 customers operating in 16 countries and offer our solution in five languages and 22 currencies.
For more information about SciQuest, please visit www.sciQuest.com or call 877-710-0413 in the U.S. or +44 1794 341182 in Europe.
Trademark information: SciQuest is a registered trademark of SciQuest, Inc. SunGard, the SunGard logo, and Banner are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
Keywords: Business Software & Services, Finance, Financial, Investing, Investment, Public Education, Technology, SciQuest Inc.
This article was prepared by Education Business Weekly editors from staff and other reports. Copyright 2010, Education Business Weekly via VerticalNews.com.
Source Citation
"SciQuest Unveils End-to-End Eprocurement Solution for Mid-Sized Universities and Community Colleges." Education Business Weekly 12 May 2010: 10. Educator's Reference Complete. Web. 8 May 2010.
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