SciQuest and Huron Consulting Group Partner to Bring Procurement Best Practices to Higher Education Institutions
Partnership's focused and integrated approach yields significant and sustainable customer benefits
RESEARCH TRIANGLE PARK, N.C. and CHICAGO, IL, October 09, 2006 - SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions, and Huron Consulting Group (NASDAQ: HURN), a leading provider of financial and operational consulting services, today announced a newly-formed partnership to provide a comprehensive procurement excellence program to meet the unique needs of higher education institutions.
The primary objective of the partnership is to offer a set of integrated services and solutions that assist higher education clients in transforming their procurement function toward best-in-class operations. With the combined competencies of Huron and SciQuest, higher education clients now have access to a full range of coordinated procurement solutions; including strategic sourcing, procurement assessments, organizational development, strategic planning, process improvement, and best-in-class e-Procurement software and implementation.
"We strongly believe that higher education institutions should invest more robustly in all areas of procurement, with a particular emphasis on technology tools," said Jim Knight, managing director with Huron Consulting Group. "This partnership provides best-in-class procurement transformation initiatives to reduce dependence on traditional sources of funds and to provide a significant return on investment. Higher education senior executives are demanding fundamentally improved procurement processes that are sustainable within the organization."
Both SciQuest and Huron feel the timing for such a partnership is beneficial to higher education institutions. Traditionally, the two primary funding sources for institutions - tuition and state dollars - are constrained and unreliable. Resourceful universities are increasingly turning to new and innovative spend management methods to unlock key funding sources.
"The ability to save millions of dollars from e-Procurement and spend management initiatives is proven," said Elaine Schroeder, vice president of business development at SciQuest. "As an industry, higher education is realizing the strategic importance of procurement and is willing to invest to obtain best practices and the supporting technology tools."
While most universities are only in the formative stages of procurement transformation, they stand to benefit in many ways by incorporating an e-procurement solution. By bringing significantly more spend under management, universities can deliver unprecedented campus-wide savings and rapid ROI. In addition, universities can increase supplier aggregation, contract compliance, order efficiency and user adoption. Improving supplier relationships and sourcing strategies can also help universities maintain maximum sustainable cost savings.
About Huron Consulting Group
Huron Consulting Group helps clients effectively address complex challenges that arise in litigation, disputes, investigations, regulatory compliance, procurement, financial distress, and other sources of significant conflict or change. The Company also helps clients deliver superior customer and capital market performance through integrated strategic, operational, and organizational change. Huron provides services to a wide variety of both financially sound and distressed organizations, including Fortune 500 companies, medium-sized businesses, leading academic institutions, healthcare organizations, and the law firms that represent these various organizations. Learn more at www.huronconsultinggroup.com.
Huron has worked with more than 80 of the 100 largest research institutions in the United States. Learn more at www.huronconsultinggroup.com.
SciQuest provides on-demand supplier enablement and procurement automation solutions that reduce operating costs, drive end-user adoption, bring more spend under management and increase visibility into organization-wide spending. Through SciQuest solutions, organizations gain immediate cost savings and rapid ROI.
Organizations can quickly enable a critical mass of suppliers through the SciQuest Supplier Network (SQSN) and leverage SciQuest Managed Services to fully manage catalog data and order delivery on an ongoing basis, significantly reducing the need for in-house IT and support resources. With an integrated supplier base, organizations can maximize on-contract spending and gain real-time visibility and reporting capabilities throughout the entire order process.
In addition to a source-to-settle suite of e-procurement applications, SciQuest also offers supplier and order management modules that seamlessly integrate with existing ERP and enterprise financial systems, driving greater return from existing investments.
For more information about SciQuest, please visit www.sciquest.com, or call 919.659.2100.
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