The SciQuest Consortium Community enables public agencies, school systems and other multi-entity organizations to pool their buying power, negotiate more favorable contracts and drive significant savings to the bottom line.
How does this work? The SciQuest Consortium Community empowers previously loosely connected entities to go to market as a team and present a unified front to the vendor community. Within this unified procurement and shopping environment, members take advantage of the community’s collective buying power. For example, counties, cities and K-12 school districts can seamlessly tap into contracts and professional expertise from the state. Smaller schools can easily take advantage of the buying power of the larger schools’ contracts in a system.
The technology framework of the SciQuest Consortium Community is the solution’s foundation. Modular in structure, the standard components provide essential elements for contract management and contract sharing, while additional components afford broader sourcing functionality.
The structure allows organizations to:
- Source together. Go out to bid, negotiate, and communicate as a group with strategic suppliers.
- Share and publish contracts. Manage contracts, view terms and conditions, host catalogs, create shared service agreements in a central repository.
- Shop in your own or shared marketplace. Shop from both goods and service contracts in your organization’s independent online marketplace or from the consortium online marketplace, all with the assurance that contract terms and conditions, supplier requirements, and product and catalog details are synchronized and updated.
- Consolidate reporting. Roll up transaction level reporting across all participating members by supplier, commodity, unit, contract or SKU level detail. Aggregate demand with factual knowledge and insight into spend.
Whether your organization is a university school system looking to collectively source contracts, a state procurement organization searching for a way to share statewide contracts, or a purchasing cooperative looking to offer group purchasing agreements to members, the SciQuest Consortium Community is your solution for capitalizing on cooperative purchasing contracts.
Collaborative procurement solutions can maximize savings through spend aggregation, collective buying and economies of scale through shared services. SciQuest offers collaboration solutions that provide flexibility for both end users and procurement managers: pCard Marketplace, Consortium Community, and Multi-Site Source-to-Settle. Read more about SciQuest’s collaboration solutions here (PDF).