Public Sourcing Solutions and SciQuest Announce Competitively Awarded Contract to Foster Government Spending Transparency
National Contract Accelerates the Acquisition of Technology Needed to Put Stimulus Funds to Work, Gain Visibility over Spend and Enforce Compliance
CARY, N.C., Sept. 14 /PRNewswire/ -- SciQuest, Inc., the global leader empowering enterprises to realize the potential of strategic procurement, and Public Sourcing Solutions (PSS), a not-for-profit cooperative purchasing organization dedicated to bringing contract savings and efficiencies to public entities nationwide, today announced the availability of a new competitively awarded national contract. The contract, available to all PSS participants, enables agencies and institutions within state and local government to quickly purchase the technology needed to gain visibility over spending, track and maximize the use of taxpayers' dollars, and enforce regulatory compliance.
PSS, a division of E&I Cooperative Purchasing--the nation's largest buying consortium for colleges and universities--leverages its consortium purchasing expertise to connect state government agencies, cities, municipalities, counties and school districts (K-12) with high quality, immediately accessible contracts that offer best-of-breed value to the public sector. Created in accordance with public purchasing rules and regulations that govern nearly all states, the SciQuest contract provides PSS participants with a compelling all-in-one offering that can be used in lieu of what can be a very expensive, complex, and labor-intensive request for proposal (RFP) process.
"With agencies struggling to do more with less, and many organizations tasked with meeting stringent reporting requirements to utilize stimulus funds, there's a limited amount of time that organizations can spend putting the systems in place necessary to ensure compliance and the effective use of taxpayers' dollars," said Thomas Fitzgerald, CEO of E&I Cooperative Purchasing and Public Sourcing Solutions. "PSS' ability to deliver valuable contracts to participants now extends to the technologies they need to be strategic in all spending."
The PSS contract for SciQuest's technology enables public sector entities to access competitive pricing for the systems needed to strategically manage spending and eliminate the administrative tasks that hinder efforts to streamline government and control costs. Offered via software-as-a-service and easily deployed with limited IT resources, SciQuest's on-demand procurement automation and supplier catalog management solutions are used by leading public sector organizations to create a system that brings unprecedented transparency to the purchasing process.
For users, SciQuest offers an online marketplace similar to the shopping environment consumers enjoy on popular e-commerce sites. In turn, procurement and financial leaders gain the visibility into spending needed to aggregate purchasing power, enforce compliance with preferred contracts, alert buyers when prices deviate from negotiated rates, track spending and quickly identify suspicious purchasing behavior.
"The combination of PSS' competitive contracts and the transparency SciQuest delivers through its eprocurement solutions presents public sector entities with a powerful way to gain visibility over spending and control costs," said Stephen Wiehe, president and CEO of SciQuest. "The importance of having modern on-demand eprocurement technology in place cannot be overstated as government entities face the conflicting demands of shrinking budgets and the need to quickly put stimulus funds to work."
About Public Sourcing Solutions
Public Sourcing Solutions is a not-for-profit cooperative purchasing organization, dedicated to bringing contract savings and efficiencies to public institutions nationwide. As a division of Educational & Institutional Cooperative (E&I), PSS draws on 75 years of experience in higher education procurement. PSS aims to leverage its consortium purchasing expertise to connect state government agencies, cities, municipalities, counties and K-12 school districts with high quality, easily accessible contracts. For more information, visit: www.publicsourcing.org.
About SciQuest
SciQuest's procurement automation and supplier enablement software solutions empower leading organizations to realize the potential of strategic procurement. The company's specialized knowledge, on-demand software, and service-first approach enable public and private enterprises across the globe to manage spend, drive ROI, and advance their critical missions.
SciQuest's deep understanding of its served vertical markets combined with a broad supplier network and intuitive, online shopping experience increase user adoption and contract compliance while improving operational efficiencies. Through software-as-a-service (SaaS) deployment, organizations can quickly implement the right eprocurement solution to augment existing ERP investments or fully enable all aspects of purchasing from sourcing to settlement.
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.
SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners.
