SciQuest, Inc., (NASDAQ: SQI) a leading provider of cloud-based spend management solutions, congratulates long-time customer, The University of California, Office of the President (UCOP), on winning the ProcureCon and IACCM 2012 Collaborate to Innovate Award. UCOP’s efforts to create a strategic purchasing consortium were recognized in the “Driving Innovation Through Collaboration” category. Winners of the 2012 Collaborate to Innovate Awards were honored on Oct. 15 at the ProcureCon USA conference.
The 2012 Collaborate to Innovate Awards recognize procurement organizations that have achieved innovative collaborative efforts that add essential value to their companies. Procurement organizations were asked to highlight their biggest collaborative procurement and supply-chain based accomplishment and outline why they should be acknowledged as a leader in collaborative strategic procurement among their peers.
The University of California system looked to SciQuest’s e-Procurement platform (Supplier Information Management, Spend Radar, and Consortium) as a solution to drive collaboration and change across its 10 campuses. Prior to SciQuest, UCOP’s purchasing department did not make negotiated contracts available to end users or track spending through its existing contracts.
“Higher education institutions in California are under continuous pressure to reduce expenses and increase efficiencies while coping with numerous budget cuts,” said Alan Moloney, director, Procurement Services, UCOP. “With SciQuest, we’ve created a comprehensive, easy-to-use purchasing system that enables us to achieve deeper visibility into spending. As a result, we have been able to negotiate more strategic contracts and increase overall savings. Since implementing the strategic sourcing consortia, we have achieved $85 million in savings in the last year alone.”A crucial part of the consortia is communication and collaboration among the participating schools. In addition to weekly calls, purchasing staff share insights on marketing the value of procurement best practices to the campus. Purchasing staff also routinely share information about suppliers and contracts with campus employees.