or call us at 877.710.0413.SciQuest, Inc and Xign Corporation Partner to Automate Last Mile of Supply Chain
Back to News Releases"SciQuest recognizes the tremendous untapped value from the electronic settlement portion of the supply chain process," said Steve Wiehe, SciQuest CEO. "This partnership automates that last mile of an organization's supply chain, effectively creating an end-to-end suite and maximizing cost savings all across an organization's supply chain."
SciQuest and Xign will actively target larger organizations with sizeable invoice processing volumes. By implementing automated procurement and business settlement processes, these organizations stand to gain substantial cost savings - both operationally and through optimized working capital. From an operational standpoint, procuring and paying for supplies electronically delivers cost savings of 50 percent or more compared to traditional paper-based processes.
Organizations can achieve even greater ROI by optimizing working capital through early payment discounts. While many suppliers offer discounts to get paid sooner, most companies relying on paper processes cannot process their orders and payments fast enough to take advantage of these discounts. In addition, some organizations only target their largest suppliers for discount programs negotiated through procurement. With an integrated e-procurement and electronic settlement network, an organization can automate its entire supply chain and extend discount programs to virtually any supplier. According to Xign studies with Fortune 1000 companies, this expansion in discount programs can deliver millions of dollars in early payment discounts for every $1 billion in spend.
"This partnership brings together two fast-growing, on-demand software companies that are focused on helping global organization achieve Procure-to-Pay excellence," said Jim Lucier, Xign vice president of worldwide sales. "We look forward to working with SciQuest and extend their world-class procurement automation and supplier management solutions with our global settlement network for business."
Organizations interested in learning more about the Xign-SciQuest partnership can attend a web seminar entitled, "Integrating e-Procurement and Electronic Settlement to Achieve Procure-to-Pay Excellence." The web seminar is scheduled for Thursday, March 15, 2pm EST/11am PST. To register, visit http://www.xign.com/webinar_reg_procuretopay_031507.html.
About SciQuest, Inc.
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.
About Xign Corporation
Xign Corporation operates the leading global settlement network for
business. Xign's suite of on-demand applications is the first to
automate the complete commerce cycle - from electronic order delivery
to electronic invoice and payment processing - to streamline operations
and monetize working capital. With more than $100 billion in
transactions processed and a fast growing network of tens of thousands
of global suppliers, Xign offers the most complete and widely deployed
service of its kind. Customers include Fortune 2000 companies across
many different industries such as Bristol-Myers Squibb, Honeywell,
MetLife, Payless ShoeSource, RadioShack Corporation, Southern Company,
Sprint, United Rentals, and Verizon Wireless. Xign is headquartered in
Pleasanton, CA. For more information, visit www.xign.com.
Xign is a registered trademark of Xign Corporation.
SciQuest and SelectSite are registered trademarks of SciQuest, Inc. HigherMarkets is a trademark of SciQuest, Inc.
Media Relations:
SciQuest
Laura Grover
919-659-2159
Christopher Rauen
925-251-4514