SciQuest Advanced Sourcing Optimizer
Traditional tools like eSourcing suites, RFX, and eAuctions are a natural first step in strategic sourcing, but mature sourcing organizations are taking more strategic approaches to eSourcing that increase the size, scale and complexity of their events to levels that are poorly supported by general-purpose eSourcing tools.
SciQuest Advanced Sourcing Optimizer is an on-demand advanced sourcing software product that enables sourcing professionals to create highly customizable requests for proposals and conduct optimized award scenario analysis that balances a number of factors including supplier cost, risk, value, and other important criteria with internal business rules and preferences. This sourcing optimization capability enables users to make better supplier award decisions faster, identifying the optimal set of suppliers for each item being sourced, and uncover the total value and real-world cost impact of sourcing decisions.
SciQuest Advanced Sourcing Optimizer delivers the flexibility and scale required to conduct eSourcing events that address critical spend categories, large events, and complex decision factors. A broad range of coaching and consulting is available from our Professional Services organization to help drive advanced sourcing strategies and events for greater ROI.
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Market-leading, Advanced Sourcing with SciQuest Advanced Sourcing Optimizer
- Flexibility & scale - From the routine, to the largest and most complex, SciQuest Advanced Sourcing Optimizer has been tested and proven to provide the speed, efficiency, and advanced capabilities needed to tackle any spend category.
- Ease of adoption - Wizard-based guides for RFX/E-Auction configuration, event creation, bid analysis, and other features drive rapid adoption across your organization. And extensive support options are available to provide expert guidance along every step of the eSourcing journey.
- More supplier value and cost savings - Our unique Expressive Bidding® supports an expressive and collaborative marketplace between buyers and suppliers. Suppliers can bid to their strengths and capabilities in significantly greater detail than with other sourcing tools, which reduces costs while increasing supply chain efficiency and introducing innovation from the market.
- Better, faster decision-making - Our proprietary optimization engine handles robust "what if?" scenario development using extensive data inputs that other sourcing tools cannot; resulting in better awards decisions.
- SciQuest Event Creation Wizard:
Rapidly create and populate strategic eSourcing events (RFI, RFP, E-Auction) with item and supplier information using a simple guided workflow.
- SciQuest Expressive Bidding®:
Improve bid collection with greater flexibility, supplier creativity, and inclusion of extensive non-price factors.
- SciQuest Expressive Feedback:
Provide expressive and timely information to suppliers during bidding cycles to guide them towards more strategic and competitive RFP and E-Auction responses.
- SciQuest Scenario Builder:
Quickly create and compare robust "What If?" bid analysis scenarios and support better stakeholder alignment.
- SciQuest Analysis and Optimization:
Arrive at the best sourcing award decisions based on costs, value, risk profiles, business rules and other preferences.
- SciQuest Sourcing Event Management:
Support the full scope of event management needs.
- SciQuest Template Management:
Improve overall productivity, re-use existing RFI/RFP/E-Auction configurations, and scale to other sourcing events and spend categories.
- SciQuest Reporting and Data Management:
Increase visibility and improve decision making with robust reports on event activity and scenario results with Excel-like navigation and reporting.
- SciQuest Dashboards:
Provide actionable views of spend, savings and event activity by category, user and timeframe.
SciQuest Advanced Sourcing Optimizer is delivered as a Software-as-a-Service (SaaS) product. It is accessed by customer users (buyers) as well as participating bidders (suppliers) on the Internet via a Web browser. SciQuest hosts at a secure location and there is no software that is installed at the client location.
- Identify Net-New Sourcing Savings – Find greater savings in spend categories historically sourced in other eSourcing tools – ranging from 5-20% typical average new savings.
- Increase Supplier Competitiveness – For both incumbent and potential new suppliers, improve negotiations through the use of SciQuest’s Expressive Bidding© and Expressive Feedback features <link to Tab 2: Features>.
- Speed Time-to-Market for Sourcing Events – Save an average of 20-50% in time savings over prior project timeframes, an estimate based on our customers’ reported results. These sourcing cycle improvements are due to efficiencies in bid data collection and bid data analysis.
- Spend More Time on Strategy – SciQuest Advanced Sourcing Optimizer makes it easier and faster to collect extensive supplier bid information and to conduct robust sourcing scenario analysis. Plus, you can integrate sourcing data with Spend Analysis.
- Reduce Savings Leakage – Easily get buy-in from stakeholders through rapid bid analysis and award scenario comparisons, so that everyone gets visibility into the best decision for the business. Improve the source-to-contract process through integration with Contract Management.
- Optimize Your Supplier Network – Collect and analyze comprehensive data about suppliers to determine the right balance between incumbents vs. new suppliers and the right supplier mix for items and locations involved in your sourcing events.