MORRISVILLE, N.C.--(BUSINESS WIRE)--SciQuest Inc. (NASDAQ: SQI), a leading provider of cloud-based solutions for spend management, today announced the availability of SciQuest Benchmarking. Powered by SmartProcure, a provider of software that aggregates government spending data from local, state, and federal agencies, SciQuest Benchmarking allows users to derive insights from 7,000 sources of real purchase order data. As a result, users can gain insights into spending trends, including what other organizations have paid for relevant items and services. Additionally, users can determine who purchased specific items and connect with other buyers with any questions.
“With the launch of SciQuest Benchmarking, we are offering deep insight into industry purchase order data insight that is integrated into our Spend Management Suite,” said Eric Zoetmulder, Vice President - Product Management at SciQuest. “We take pride in our customer-driven product roadmap, and this product fills a real need for our eProcurement customers. We remain committed to finding new, innovative ways to help our customers drive value and lower costs. With access to purchase order data from 7,000 public agencies—a number that continues to increase—SmartProcure is an ideal partner.”
SciQuest Benchmarking is available immediately to SciQuest customers using the Spend Director and Sourcing Director solutions. In addition to the ability to lower supplier costs through increased competition, users can use the insights gained from SciQuest Benchmarking to improve the quality of their supplier base.
“We are excited to partner with SciQuest, an established market leader in the eProcurement space,” said Jeff Rubenstein, CEO of SmartProcure. “SciQuest’s extensive customer base is a great opportunity for us to expand our presence in the buy-side market. We’ve had many requests from customers to purely benchmark pricing and suppliers, and this solution we’ve created in conjunction with SciQuest will help deliver real value to customers across the globe.”
To learn more about SmartProcure, please visit their booth at the SciQuest NextLevel Conference, March 12-15 at the Gaylord National Resort and Convention Center in Washington, D.C.
SciQuest (NASDAQ: SQI) spend management solutions enable procurement, sourcing and financial professionals to focus on strategic decisions that transform business processes. Our feature-rich products and expert services help hundreds of organizations, including leading global companies, drive bottom line results by improving, automating and optimizing their source-to-settle processes.
Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks are discussed in “Part I, Item 1A, Risk Factors” and elsewhere in SciQuest’s most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission (“SEC”). The company’s SEC reports are available free of charge on the SEC's website at http://www.sec.gov or on the company’s website at www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.