West Virginia Higher Education Policy Commission and West Virginia Council for Community and Technical College Education Taps SciQuest for Collaborative Procurement

CARY, N.C.--(BUSINESS WIRE)--SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand strategic procurement and supplier management solutions, today announced that the West Virginia Higher Education Policy Commission and the West Virginia Council for Community and Technical College Education have selected the SciQuest eProcurement solution to improve purchasing processes across its entire network. With SciQuest’s pCard (purchasing card) Marketplace, the schools will benefit from collaborative procurement that improves buyer power and provides greater insight into spending.

“SciQuest enables collaborative procurement for even the smallest institutions, delivering self-funded purchasing platforms that improve spend savings”

The Commission and Council are responsible for developing, establishing and overseeing the implementation of a public policy agenda for the state’s 21 four-year and two-year higher education institutions. The Commission’s technology organization, West Virginia Network for Educational Telecomputing (WVNET), will manage the initial phase of the SciQuest eProcurement deployment for 10 institutions, which is being sponsored and paid for by the West Virginia State Auditor’s Office. SciQuest will help WVNET ensure that all purchases are made in the pCard Marketplace, helping monitor and control spending.

“All of the West Virginia higher education institutions are buying the same products, many times from the same vendors, but each school was paying a different price based upon the individual institutional volume,” said Debra Langford-Hiergeist, executive director of purchasing, Shepherd University, a West Virginia Higher Education Policy Commission member. “This pricing difference among the institutions has been an area of concern for years. However, we have never had a mechanism to capture the information regarding the exact products and the quantities that each institution is buying and gather this information jointly.”

“SciQuest will provide us with a mechanism to obtain this information, and provide the participating schools with a low-cost, easy way to drive better spend and ensure price consistency for all goods and services. In the long run, we will be able to establish better contracts for all institutions, to save the institutions money, to save the state taxpayers money, and to save money for other projects on higher education campuses,” added Langford-Hiergeist.

By combining the buying power of the WVNET schools and driving suppliers to one marketplace, SciQuest is enabling cost-savings with every purchase. The SciQuest eProcurement solution ensures that each school participating in the pCard Marketplace, regardless of its size, is receiving the lowest available price from in-contract suppliers. The rebates and savings from these purchases are contributed directly back to the state budget, acting as a secondary funding source for government projects.

“SciQuest enables collaborative procurement for even the smallest institutions, delivering self-funded purchasing platforms that improve spend savings,” said Max Leisten, market director, SciQuest. “Representing schools of varying sizes, the West Virginia Higher Education Policy Commission and the West Virginia Council for Community and Technical College Education will realize the benefits of increased buying power and more controlled spending across every participating school in the network. SciQuest continues to provide higher education institutions with the spend visibility required to stretch smaller budgets while still delivering a superior learning experience.”

About SciQuest

SciQuest (NASDAQ: SQI) is a leading provider of an integrated, web-based end-to-end eProcurement solution that enables users to realize significant efficiencies and savings on their purchases of indirect goods and services. SciQuest’s unique industry segment expertise and innovative “source-to-settle” approach to eProcurement enables Fortune 1000 companies and organizations in the higher education, life sciences, healthcare and public sector markets, as well as other industries, to identify savings opportunities they may otherwise have missed, while improving contract management, compliance and supplier management. SciQuest’s solutions help customers turn spending into a source of savings.

SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners. For more information about SciQuest, please visit www.sciquest.com or call 888-638-7322 in the U.S. or +44 1794 341182 in Europe.

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